Unconventional Mortgages and Loans (800) 718-8906

Unconventional Mortgages and Loans

Customer Service: (800) 718-8906

Multi-Unit Investment Property Mortgages

Stated Income/Verified Assets – California

2024 Update –

Almost all Stated Income loans are for investments properties. This loan is special in that it gives the option for people that can’t or prefer not to verifiy their income to purchase or refinance their primary home in California, Colorado, Florida, Texas, Virgina and Washinton.

Self Employed only

Purpose: Purchase, Rate and Term Refinance and Cash Out Refinance

Jumbo Loan Amounts:

Purchase to $2,500,000

Cash Out Refincne to $1,500,000 “cash-in-hand

Maximum Financing: Purchase and Rate and Term Refunance to 75% LTV. Cash Out Refincne to 80% LTV

Property Types: SFR Attached and Detached. Condos OK with 5% LTV Reduction

Occupancies: Owner Occupied. Second Home to 70% LTV

Credit Score requirement: 680 Minimum

Verified Asset Requirments:For loan amounts less than $1,000,000 – 6 Months Reserves (Housing Expense). For loan amounts greater than $1,000,000 – 12 Months Reserves Reserves (Housing Expense)

Underwriting Notes:

Borrower cannot have more than 10 financed properties. No limit on number of properties owned

Non owner occupied borrowers not allowed

Private mortgage insurance not requied

10 acre maximum on property

Appraisal notes:

Full Appraisal required, interior and exterior with photos of both

Desk review required for all loans greater than $750,000

Property cannot have been on MLS for more than 90 days

No purchase seasoning required for refinance – utilize current market value for LTV purposes

Credit history notes:

Payment history: No 30 day lates within last 36 months on mortgage or rent and consumer debt, revolving or installment

3 year active history on a minimum of 3 accounts (tradelines) required

Income document requirements:

Self Employed: 2 year job history

Business license or CPA letter

2 months bank statements or a VOD, Verification of Deposit, personal or business bank statements OK

Rental Agreements can be qualified as income

Eligible Borrowers: US Citizen, Permanent and Non-permanent Resident Aliens

Gift Funds for down payment OK. 5% borrower contribution required

Any liens on subject property must be a minimum of 6 months seasoned. 12 months on a HELOC with no draws within the last 12 months

reference# 254 525020215

Bank Statement Loan Options | Self-Employed

Self-Employed Borrowers: Personal Bank Statements, Business Bank Statements and Comingled Bank Statement Accounts

Bank Statement Alt Doc Options Available – 2023 Updates

We calculate your monthly income number (DTI purposes) before your loan is submitted to the underwriter based on either your previous 3 months, 6 months, 12- or 24- months bank statements. Saves time because it will be a clean loan, the way the underwriter likes it. Quicker turn times and happy borrowers. Interest rates are always important. Service is key. Mortgages can come with a lot of moving parts.

* 20% Minimum Business Ownership Required

* Gift Funds OK with 5% Borrower Contribution

* One Year Business History Required

Eligible Property Types:

* Single Family Residences (SFR) (attached and detached)

* 2 Units

* 3 Units

* 4 Units

* Condos

* Non-Warrantable Condos (70% Max LTV)

Eligible Occupancies:

* Primary / Owner-Occupied

* Second /Vacation Homes

* Investment Properties

* ADU OK (5% LTV reduction) First Time Investors

Investor Service

First time investors can be eligible with no previous housing expense (rental history/mortgage payment) for the previous 12 months.

Rent free (no current housing expense (10% LTV reduction 680 credit middle score)

Available in the Following States:

Alabama, Alaska, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, North Carolina, Oregon, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin.

California Hard Money Jumbo – 80% LTV

Jumbos, Super Jumbos, and Cash-Out – 600 Credit Score

Second Mortgages also Available. Private Money Lender, southern California based with LTVs up to 80% on Investment properties all throughout California. Airbnb rental income, OK. Direct lender out of Irvine California focusing on value-add residential, commercial and Business Purpose mortgages.

Super Jumbo Loan Amounts to $30,000,000

** 80% LTV Hard Money

LTVs are based on borrower’s real estate experience, type of transactions, subject property location, county and zip code, and the overall credit profile of the borrower.

Income, Liquid Assets and Employment

No personal income verification. Liquid Assets for Reduced Investor Pricing and Underwriter Guideline Exceptions.

Eligible Property Types

Single Family Residence Attached, (SFR-A), Single Family Residence Detached, (SFR-D), 2-4 Units, 5+ Multi-Family Units, Townhomes, Condominiums (<9 stories), Townhomes, PUD.

Available Terms

Short-term 6-18 months. 2 year and 3 year, and 7 year ARMs are also available for long-term rental investors. Interest-Only (I/O) available on all terms. Pre-Payment options are available for reduced pricing.

Loan Program Benefits

Inhouse control: Servicing, Fund Control, 5-Day Close

Loan Scenario Form – Credit Check Not Required

Available in the Following States:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, and Wisconsin.

Exception-Based Non-Prime Loan

Specialized lender leads the way in the Non-Prime niche mortgage lending space with over 50 years of collective wholesale lending and loan origination experience and have streamlined the approval and escrow work flow perfected the escrow for better time efficiency from pre-qualification, full application, underwriter approval/Conditional Loan Approval (CLA), Prior to Doc (PTD) conditions, Condition Review, final underwrite, Prior to Funding (PTF) conditions, Clear to Close (CTC), Closing Docs to escrow, sign, and close.

Non-QM Lenders and Loans Unique to an Individual Borrower

We have many loan options, and we are poised to increase the buying power of the small to medium size business owner by utilizing industry tools, built into their proprietary mortgage Loan Origination Software (LOS) to make the escrow process smooth and rolling along in a timely fashion. We are closing Non-QM Alt Doc loans in 10-21 days.

Innovative Product and Service

As a successful business professional, you provide exceptional service to your clients and customers so you should expect the same level of service and care from the people that work for you. We work for you to serve you the way you want to be served. Non-QM lenders make it possible for us to originate and close Non-Prime solutions that other loan officers cannot. to individual W2 Wage Earner borrowers and Self-Employed business professionals or anyone else that has a complicated tax return can benefit from 1 or more of the following:

Alt Doc and Reduced Doc Programs

* Bank Statements
* 1099 Only
* Asset Depletion
* No Doc
* Reduced Doc

Bank Statement Loan Options

Super Jumbo Loan Amount – $4,000,000 ($2,000,000 – Max Cash Out)

* 2 Month Business or Personal Account

* 6 Month Business or Personal – Comingle OK

* 12 Month Business or Personal – Comingle OK

* 24 Month Business or Personal – Comingle OK

Employment Types:

* Self Employed – Two Years Minimum

* Wage Earner / W2 Co-Borrower OK

Eligible Business Entities:

Corporation

* LLC

* Sole Prop

Employment Verification:

* Business License

* CPA Letter or Tax Professional stating Percentage of Ownership

* Borrower Prepared Profit and Loss Statement

Eligible Property Types:

* SFR Single Family Residence – Detached

* SFR Single Family Residence – Attached

* Duplex

* Triplex

* 4 Units

* Condominiums

Eligible Occupancies:

* Owner-Occupied

* Non-Owner-Occupied Investment

* Vacation Home

Loan Scenario Form – Credit Check Not Required

Available in the Following States:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin.

Super Jumbo Investor Mortgage | DSCR

Unconventional Mortgages and Loans | Real Estate Investor (DSCR) Loan Program

Debt Service Coverage Ratio – 620 Minimum Credit Score

* Maximum LTV 85% Purchase Transactions

* 80% Cash Out Refinance Transactions

* Maximum Loan Amount $15,000,000

* Rental Lease or Appraisal Form 1007

* DSCR – .75% – 1.5%

* No Traditional Income Documentation

* DTI – N/A

* Employment Types: No Job Needed

* Income Documentation Types: N/A

Jumbo DSCR Loan Amounts – Loan-to-Value (LTV) & FICO Scores

Super Loan Amounts: $3,500,000 – $4,000,000

* Purchase: 75% LTV ~ 700 FICO -or- 70% LTV ~ 680 FICO

* Cash Out: 70% LTV ~ 680 FICO -or- 70% LTV ~ 700 FICO

Loan Amounts: $2,500,000 – $3,500,000

* Purchase: 80% LTV ~ 700 FICO -or- 75% LTV ~ 660 FICO

* Cash Out: 70% LTV ~ 720 FICO -or- 65% LTV ~ 700 FICO

Jumbo Loan Amounts: – $300,000 – $2,500,000

* Purchase: 75% LTV ~ 700 FICO -or- 70% LTV ~ 680 FICO

* Cash Out: 75% LTV ~ 720 FICO -or- 70% LTV ~ 700 FICO

Reserves Requirements:

* Purchase 6 Months (PITI/PITIA) to 80% LTV or 3 Months to 75% LTV

* Cash Out – Not Required

Eligible Property Types:

* Single Family Residence (SFR)

* Condos – Warrantable

* No Condotels

Eligible Occupancies:

* Non-Owner/Investment Only

* Second/Vacation Homes – Not Eligible

Available Terms:

* ARM: 3 Year ARM, 5 Year ARM, and 7 Year ARM

* 40-year fixed Fully Am or Interest Only Options are Available with 660 Credit Score

Credit Criteria Requirements

Tradelines Requirements:

One – 36-Month payment history

Two – 24-month Previous History Open and Active

Credit Score Requirements

* 620 Minimum

“Housing Event” Credit Seasoning:

* Bankruptcy – 2 years required

* Foreclosure – 2 years required

* Short Sale – 2 years required

* Deed in Lieu – 2 years required

Underwriter Notes and Highlights:

* Mortgage Lates – 12 Months Seasoning

* First Time Home Buyers – OK

* Gift Funds OK with 5% Minimum Borrower Contribution from Family Immediate Member

* Rent-free housing history OK

* Pre-payment Penalty Options

* Investors: 15 financed Real Estate Owned (REO)

Loan Scenario Form – Credit Check Not Required

Available in the Following States:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, and Wisconsin.

Bank Statement Loan to 75% LTV 620 Credit Score

Six Alternative Income Verification Options

Non-QM loan program uses bank statements In lieu of Traditional Income Documentation to determine a borrower’s Ability-to-Repay. Agency – government regulated. Non-QM is manually underwritten per investor guidelines as well as underwriter discretion.

Alternative Non-QM Income Documentation Options for the Self-Employed Borrower

Tax Returns not required; Form 4506-T not required. Form 4506-C is also not required for Self-Employed borrowers. Form 4506-C is required for W2 Wage Earners only. If W2 Income is Mixed with Self-Employment Bank Statement Income. Proof of Payment will be Required. Self-Employment defined as >25% Ownership to qualify as “self-employed”.

Bank Statement and Asset Depletion

* 3 Alt Doc and 3 Reduced Doc

* 12 Months Business Account statements or Personal Account statements (6 month bank statement programs also available)

* 24 Months Business Account statements or Personal Account statements. Note: We can Co-Mingle Multiple Accounts when it makes sense

* Asset Depletion (Quantify Additional Qualifying Income), Asset-Based. Pledged Asset Portfolio Programs Also available.

Reduced Doc: Unseasoned Job/Profession History and Income

Self-Employed and Co-Borrower W2 Wage Earners

* 1 Year Tax Returns – 600 Credit Score

* 1 Year W2 – 580 Credit Score

* 1 Year 1099 Only – 620 Credit Score

Liquid Reserves Requirement: 6 Months Reserves (Subject Property Housing Expense). Note: Cash Out Can be used to Meet Reserve Requirement

Maximum loan amount is $3,000,000 to 90% LTV and a maximum Cash Out (cash-in-hand) dollar Amount of $1,000,000. Loan Amount exceptions made to $10,000,000. Lenient DTI Guidelines to 55%. Exceptions to 60% DTI.

Eligible Property Types

SFR, PUD, 2 Unit, 4 Unit, Condo, Modular, Mixed Use, and Specialty Homes

Eligible Occupancies

* Owner-Occupied/Primary Residence

* Second/Vacation Home

* Non-Owner-Occupied/Investment Property

Available Terms

* 30 Year Fixed

* 15 Year Fixed

* 5/6 ARM

* 7/1 ARM

Interest Only Available on both the ARM Product as well as the Fixed Rate Product!!

Credit Notes

Traditional Credit Only

Credit Rescore to Qualify for More Loan (or a Better (more suitable) Loan Program: Terms, Pricing, Conditions, etc.

Credit Event Seasoning Requirements for this Alt Doc Program

* Bankruptcy – 24 Months

* Foreclosures – 24 Months

* Short Sale – 24 Months

Loan Scenario Form- No Cost – No Credit Check

Available in the Following States:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, and Wisconsin.

Alternative Income Documentation

Contact a Loan Officer

Non-Qualified Mortgage Lending

One Month Bank Statement Loan

Self-Employed Borrower Programs

Refinance Loans

Self-Employed and Investor

Programs by Category

Second Mortgages

Alt Doc Purchase Loans

Non-Prime Mortgages

Non-Prime Mortgages