Alt-Doc Mortgage Program | Forms 4506-T and 4506-C Not Required
- 90% LTV (loan-to-value) Financing
- $1,500,000 – Maximum Loan Amount:
- $3,500,000 – Maximum Loan Amount:
- 6 Month Reserve Requirement for primary residence + 3months for Each additional property owned (and financed)
Residual Income Requirement: / DTI
- DTI Less Than 35% – $3000 Monthly Residual Income
- DTI Greater Than 35% – $4000 Monthly Residual Income
Property Types:
- SFR Single Family Residence
- PUD Planned Urban Development
- Condo
- Non-Warrantable Condo
Debt-to-Income DTI – 50% with 680 Credit Score to 80% LTV
- Interest Only payment Available – 680 Credit Score
Gift Funds
- 100% financing available with 20% gift
Underwriting Notes:
- Super Jumbo Loan Amounts require a second appraisal
Credit Notes:
- 0 30 Day Mortgage Lates – 12 Month History
- 25 Maximum Properties Owned:
- Investment Property or Second Home – 10 Maximum unless LTV
- Less than 75%, LTV, No Limit
Available in the Following States:
Alabama, Arizona, California, Colorado, 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.
Reference # 214 554488
Last Updated on 2 months ago by Broker Mortgages