Qualify on a Lite Doc – 12 Month Bank Statement Program
12 Month Average Gross Deposits in-lieu of Traditional Income Documentation
Self-Employed Borrower’s Only – Forms 4506-T and 4506-C Not Required
Now including Sole Proprietor Independent Contractors
Purchase – 15% Down Payment to $2,500,000 loan amount
R/T Refinance – 85% LTV. Cash Out – 80% LTV – $500,000 maximum cash out (cash-in-hand), not including proceeds applied to consolidate debt, “debt consolidation mortgage program”
Jumbo Loan Amounts to $5,000,000
Traditional Bank Statement Loan Alternative: In addition to Bank Statements,1099’s can be used without the 1040 or Schedule C. We can add this income to the over-all income that will be accepted and considered more like a Full Income Documentation Program which will produce Full Doc pricing
Credit Notes:
* Credit Score 680 Minimum Middle for all Borrowers
* Bankruptcy Discharge Seasoning Requirements – 2 Years Seasoning Required for Chapter 7
* Seasoning Required for Chapter 13 Bankruptcy
* Foreclosure Discharge Seasoning Requirement – 4 Years Seasoning Required
* Loan Modification Complete (yeah, right. Lose your Paperwork, did they?)- 3 Years Seasoning Required
Available Terms
* 5-, 7- and 10-year ARM’s and 15 year fixed
* Balloon note at ARM maturity or option to roll into an equity line
Owner Occupied only
Eligible Property Types:
* SFR
* Second Home
* 1-4 Unit Properties
Get Pre-Qualified | Without a Credit Check
Available in the Following States:
Alabama, Arizona, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Idaho, Illinois, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Jersey, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Washington, Wisconsin, and Wyoming.