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Alt Doc - Niche Bank Statement Mortgage

Business and Personal Bank Accounts

If it's your bank statements that are holding you back from an approval, this could be the solution loan program for you.

"Borrower Prepared" Profit and Loss Statement | P&L

In Lieu of your tax returns, the Borrower Prepared Profit and Loss is used in conjunction with this specific loan program; 100% of your Business and Personal, intermingled Accounts along with and unaudited, Borrower Prepared Profit and Loss Statement to help you qualify for an Alt Doc Bank Statement mortgage loan

Non-Prime Bank Statement Loan - 580 Credit Score to 85% LTV

How Can I Qualify?

Qualification is based on a 24-month average of all net deposits, business deductions not subtracted; making it a little easier for a self-employed borrower to qualify for a bank statement mortgage home loan

Purchase Loan | Single Family Residence - Owner-Occupied:

  • 580 Credit Score

    • 85% LTV - $1,000,000

    • 75% LTV - $1,500,000

    • 70% LTV - $2,000,000

  • 640 Credit Score

    • 85% LTV - $2,000,000

    • 80% LTV - $2,500,000

  • 660 Credit Score

    • 85% LTV - $2,500,000

    • 70% LTV - $3,500,000


Refinance Cash Out Loan | Single Family Residence - Owner-Occupied:

  • 580 Credit Score

    • 75% LTV - $1,500,000

    • 70% LTV - $2,000,000

  • 640 Credit Score

    • 80% LTV - $1,500,000

    • 75% LTV - $2,500,000

  • 660 Credit Score

    • 80% LTV - $1,500,000

    • 75% LTV - $2,500,000

  • 680 Credit Score

  • 60% LTV - $3,500,000


Eligible Occupancies: Owner-Occupied & Second Home

Eligible Property Types: Single Family Residence, Condo, Duplex, 4 Unit

Eligible Liquid Assets: Stocks + Bonds + Retirement Vested** + Money Market Funds + Trust Accounts + Interest/Dividends

Required Credit:

Housing Payment History - Mortgage / Rent - No 90-day Lates in the Previous Year

Minimum Tradeline Requirements:

  • 3 Tradelines - 1 Year History, or
  • 2 Tradelines - 2 Year History

Housing Event Seasoning:

  • Chapter 13 - Discharged - 1 Day

  • Chapter 13 - Dismissed - 1 Day

  • Chapter 7 - Discharged - 1 Day

  • Foreclosure - 1 Day

  • Short Sale & DIL - 1 Day

 

States:

Alabama | Arizona | California | Colorado | Delaware | Florida | Georgia | Hawaii | Illinois | Indiana | Maine | Maryland | Massachusetts | Nevada | New Jersey | New Mexico | North Carolina | Oregon | Pennsylvania | South Carolina | Tennessee | Texas | Utah | Virginia | Washington