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Bank Statements/Asset Depletion to 5-Million

Self-Employed Borrowers: Purchase 90% LTV, and Cash Out – 85% LTV ~

Self-employed borrowers can now take advantage of alternative income documentation with options to purchase at 90% LTV and cash out at 85% LTV. By using your 1099(s) as a sole proprietor, you can qualify with additional income, demonstrating your ability to repay.

Super Jumbo Loan Amounts

* $15,000,000 Maximum

* Unlimited Cash Out

Credit Scores (middle mortgage score) and LTV’s

* 620 Score – 75% LTV – $1,500,000

* 660 Score – 80% LTV – $2,000,000

* 680 Score – 85% LTV – $2,500,000

* 700 Score – 90% LTV – $3,000,000

Employment Types

* Self Employed Documentation – One Year VOE

* Wage Earner / W2 Co-Borrower OK

Employment Verification

* Business License or Business Certificate If Applicable

* CPA Letter or Equivalent

Income, Asset and Employment Documentation

* 12 Months Bank Statements
* Borrower Prepared and Unaudited Profit and Loss Statement:
* Business Bank Account or Personal Bank Account – OK
* Utilize Liquid Assets for Additional Income
* Checking Accounts, Savings Accounts, Stocks, Bonds, Mutual Funds, Certificates of Deposit
* Market Funds, Retirement “dollar amount invested”, Trade Equity, Savings Bonds, trust accounts, sale of real estate, etc.

Eligible Business Entities:

Corporation, LLC, Sole Proprietor

Eligible Property Types:

Single Family Residence – Detached, Single Family Residence – Attached, 2-4 Units, Condominiums, PUD’s

Eligible Occupancies:

* Owner-Occupied

* Investment

* Second Home

Credit Seasoning:

Bankruptcy: 2 Years, 1 year with compensating factors, Foreclosure: 2 Years, 1 years with compensating factors, Short Sale: 1 Year, Loan Modification: 1 Year

Underwriter Notes:

* First Time Homebuyer – OK

* Compensating Factor examples: Low LTV. Low DTI. equity position, credit depth and over-all seasoning

Terms: 30 and 40-Year Fixed Rates and Interest-Only Available

Available in the Following States:

Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Louisiana, Maine, Mississippi, Missouri, Nevada, New Jersey, North Carolina, Oregon, Pennsylvania, Tennessee, Texas, Utah, Virginia, and Washington.

Alternative Income Documentation

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