Alt Doc Home Loan - 12 Months and 24 Months Bank Statements | Forms 4506-T and 4506-C Not Required
700 Credit Score:
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$1,500,000 Loan Amount | 4 Months Reserves
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LTV 90% - Purchase
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LTV 85% - Cash Out Refinance
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$2,000,000 Loan Amount | 6 Months Reserves
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LTV 90% - Purchase
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LTV 85% - Cash Out Refinance
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$2,500,000 Loan Amount | 6 Months Reserves
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LTV 90% - Purchase
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LTV 85% - Cash Out Refinance
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$3,000,000 Loan Amount | 9 Months Reserves
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LTV 85% - Purchase
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LTV 80% - Cash Out Refinance
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$4,000,000 Loan Amount | 12 Months Reserves
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LTV 90% - Purchase
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LTV 85% - Cash Out Refinance
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$5,000,000 Loan Amount | 6 Months Reserves
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LTV 85% - Purchase
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LTV 80% - Cash Out Refinance
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680 Credit Score:
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$1,500,000 Loan Amount | 4 Months Reserves
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LTV 90% - Purchase
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LTV 85% - Cash Out Refinance
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$2,000,000 Loan Amount | 6 Months Reserves
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LTV 90% - Purchase
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LTV 85% - Cash Out Refinance
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$2,500,000 Loan Amount | 6 Months Reserves
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LTV 90% - Purchase
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LTV 85% - Cash Out Refinance
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$3,000,000 Loan Amount | 9 Months Reserves
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LTV 85% - Purchase
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LTV 80% - Cash Out Refinance
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$4,000,000 Loan Amount | 12 Months Reserves
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LTV 90% - Purchase
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LTV 85% - Cash Out Refinance
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$5,000,000 Loan Amount | 18 Months Reserves
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LTV 85% - Purchase
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LTV 80% - Cash Out Refinance
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Credit Notes:
- Maximum Loan Amount: $5,000,000
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Minimum credit score: 600
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No mortgage lates allowed previous 24 months
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Housing Credit Event Seasoning 36 Months (Bankruptcy, Foreclosure, Short Sale, Loan Modification)
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Minimum tradelines 2 open and active minimum of 12 months
Cash-Out (Cash in Hand) Limit:
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Maximum LTV - 80%
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Loan amount > $1,500,000 Maximum LTV - 75%
Eligible Property Types:
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Single Family Residence
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Condo (non-warrantable condo maximum loan amount - $2,000,000)
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2-4 Units - Maximum LTV - 85%
DTI (Debt-to-Income Ratio):
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55%
Terms Available
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ARM's
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5/1 LIBOR
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7/1 LIBOR
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Fixed Rate
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30 Year Fixed
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15 Year Fixed
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Interest Only - 120 Month Term
This particular loan program is available in the following states:
Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Hawaii, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Nevada, New Hampshire, New Jersey, North Carolina, Oregon, Pennsylvania, Tennessee, Texas, Utah, Virginia, and Washington
Reference # 541 052218 10-13-1-3