Bank Statement Loans

Self-Employed Borrower Income Documentation Portfolio direct lender functions as a direct lender boasting its unique portfolio loan of products and programs. They autonomously determine Non-QM and Non-Prime manual underwriting decisions. Moreover, portfolio lenders have the capability to lend their own funds alongside a portfolio they either contribute to or commit to for a predetermined lending service term. Bank Statement Income Deposits The business industry and business model can dictate your expense factor. Flexible “expense ratio” options for the bank statements, both business and personal account statements. Loan Scenario Form – Credit Check Not Required Bank Statement Income Documentation Options * 12 month Personal or Business Bank Statements * 24 month Personal or Business Bank Statements * 1099 Only Loans for Sole Proprietors/Independent Contractors * Asset Based features for additional qualifying income Credit Leniency and Underwriter Discretion Major credit events only require two years of seasoning. Mortgage lates OK not to exceed 3 x 60 x 24 including rolling late within the previous 24 months including rolling lights within the most recent previous 12 month time. Minimum Credit Score Maximum Loan-to-Value Max Loan Amount Reserves 700 FICO 90% LTV $4,000,000 12 Months 680 FICO 85% LTV $3,500,000 12 Months 660 FICO 80% LTV $3,000,000 9 Months 640 FICO 75% LTV $2,500,000 9 Months 620 FICO 70% LTV $2,000,000 6 Months 600 FICO 65% LTV $1,500,000 3 Months 580 FICO 60% LTV $1,000,000 3 Months Lender Solutions and Niche Loan Products This loan program works well for borrowers that fall outside the standard Non-QM box with credit scores as low as 600 and minimal tradelines required. Cash Out to $1,500,000. Additional details below. Eligible Property Types: * Single Family Residence (SFR) – $3,500,000 Maximum Loan Amount * 2-Unit – $2,500,000 Maximum Loan Amount * 4-Unit – $2,000,000 Maximum Loan Amount Eligible Occupancies: * Owner-Occupied/Primary Residence * Second Home to 85% LTV * Non-Owner-Occupied/Investment Available Terms: * 15 Year Fixed – Interest Only Allowed * 30 Year Fixed Interest-Only Allowed * 40 Year Fixed and Interest-Only Allowed Additional Underwriting Highlights: Non-Occupant Co-Borrowers – Allowed First Time Buyers OK Non-Permanent Resident Aliens – OK Loan Scenario Form – Credit Check Not Required Available in the Following States: Alabama, Arizona, California, Colorado, Florida, Georgia, Hawaii, Illinois, Kansas, Kentucky, Maine, Nevada, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington.