Featured Loan Programs & Guidelines
Exception-Based Non-Prime Lender
- Parent Category: Non-Qualified Mortgage Lenders
- Category: Non-Prime Mortgage Lenders
- Last Updated: 30 August 2021
Exception-Based Non-Prime Lender
Specialized lender leads the way in the Non-Prime niche mortgage lending space with over 50 years of collective wholesale lending and loan origination experience and have streamlined the approval and escrow work flow perfected the escrow for better time efficiency from pre-qualification, full application, underwriter approval/Conditional Loan Approval (CLA), Prior to Doc (PTD) conditions, Condition Review, final underwrite, Prior to Funding (PTF) conditions, Clear to Close (CTC), Closing Docs to escrow, sign, and close.
Non-QM Lenders and Loan Programs Can be Unique to an Individual Borrower
We have many loan options, and we are poised to increase the buying power of the small to medium size business owner by utilizing industry tools, built into their proprietary mortgage Loan Origination Software (LOS) to make the escrow process smooth and rolling along in a timely fashion. We are closing Non-QM Alt Doc loans in 21 days.
Innovative Product and Service
As a successful business professional, you provide exceptional service to your clients and customers so you should expect the same level of service and care from the people that work for you. We work for you; to serve you the way you want to be served. Non-QM lenders make it possible for us to originate and close Non-Prime solutions that other loan officers cannot. to individual W2 Wage Earner borrowers and Self-Employed business professionals or anyone else that has a complicated tax return can benefit from 1 or more of the following:
Alt Doc and Reduced Doc Programs:
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Bank Statements
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1099 Only
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Asset Depletion
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No Doc
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Reduced Doc
Bank Statement Loan Options - Super Jumbo Loan Amount - $4,000,000 | $2,000,000 - Cash Out
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2 Month Business or Personal Account
- 6 Month Business or Personal - Comingle OK
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12 Month Business or Personal - Comingle OK
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24 Month Business or Personal - Comingle OK
Jumbo and Super Jumbo - $4,000,000 | $2,000,000 Cash Out
Employment Types:
- Self Employed - Two Years Minimum
- Wage Earner / W2 Co-Borrower OK
Eligible Business Entities:
- Corporation
- LLC
Employment Verification:
- Business License
- CPA Letter or Tax Professional stating Percentage of Ownership
- Borrower Prepared Profit and Loss Statement
Property Types:
- SFR Single Family Residence – Detached
- SFR Single Family Residence – Attached
- 2-4 Units
- Condominiums
Occupancies:
- Owner-Occupied
- Non-Owner-Occupied Investment
- Vacation Home
Loan Scenario Form - Credit Check Not Required
Available in the Following States:
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin
DSCR .75% Jumbo Mortgage
- Parent Category: Non-Qualified Mortgage Lenders
- Category: Programs We Offer
- Last Updated: 13 July 2021
Experienced Real Estate Investors - 25 Financed Properties - OK
Jumbo $2,000,000 Maximum Loan Amount
DSCR Debt Service Coverage Ratio Loan Program
Verification of Employment VOE: None
Debt Rate Coverage - .75%
Credit Score - 600
No DTI Calculated. All Rental Income Based
No Tax Returns or 4506-T Form Tax Transcripts
Cash-in-hand $1M for Business Purposes
Clean Credit Previous 24 Months
700 Credit Score
- 80% LTV - $2,000,000
- 75% LTV - $2,500,000
660 Credit Score
- 80% LTV - $1,500,000
- 75% LTV - $2,000,000
- 70% LTV - $2,500,000
620 Credit Score
- 80% LTV - $1,250,000
- 70% LTV - $1,500,000
- 65% LTV - $2,000,000
600 Credit Score
- 70% LTV - $1,250,000
- 60% LTV - $1,500,000
Cash Out Available
700 Credit Score
- 80% LTV - $1,500,000
- 70% LTV - $2,000,000
660 Credit Score
- 80% LTV - $1,250,000
- 75% LTV - $1,500,000
- 65% LTV - $2,000,000
620 Credit Score
- 70% LTV - $1,250,000
- 60% LTV - $1,500,000
- 50% LTV - $2,000,000
- 40 Year Fixed Rate - Interest-Only Option with 700 Middle Credit Score
Available Terms:
- Fixed 30
- ARM's 5/1, 7/1, 10/1
- Interest-Only Payment Available
Inherited Properties: OK. Includes Properties Obtained via Divorce/Separation or Dissolved Domestic Partnership. 6 Months Inheritance Seasoning Required for Cash Out "Using Market Value"
Delayed Financing: Not Allowed
Eligible Property Types & Occupancies: Primary Residence, Second Homes - SFR Only, Non-Owner-Occupied / Investment - SFR Only. Non-Warrantable Condos and Condotels OK
Eligible Borrowers: Foreign National, Permanent Resident Aliens, and Non-Permanent Resident Aliens OK
Power of Attorney: OK for Purchase and Rate and Term Refinance
Vesting: Corp and LLC OK
Gaps in Employment - Not Allowed Over 60 Days Without Official Employment Offer Letter
Non-Occupant Co-Borrower's: OK
States:
Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Maine, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington