Self-Employed Borrowers – Forms 4506-T / 4506-C Not Required
This Alt Doc Home Loan program allows you to qualify using bank statements, providing a flexible solution for millions of self-employed Americans, making homeownership more accessible for those who do not or cannot use their traditional income documentation.
Full Income Documentation Alternative – Bank Statements
With our program, you can qualify using bank statements, making it easier for self-employed people to obtain reasonable mortgage financing.
Alternative Income Documentation for Self-Employed Borrowers
Self-Employed borrowers do not want to provide Full Doc income documentation to qualify for a mortgage. Moreover, do not want to sign IRS Form 4506-C for federal tax transcripts.
12 Months and 24 Months Bank Statements – Tax Returns Not Required
Explore our Jumbo niche loan program, designed specifically for self-employed borrowers seeking alternative income documentation loan programs for their next home purchase or real estate investment.
Full Income Also Available – DTI (Debt-to-Income Ratio): 55%
Matrix: Credit Scores/ Loan Amounts/ Transaction LTVs
| Credit Score | Loan Amount | Purchase & R/T Refinance | Cash Out Refinance | Months Reserves |
|---|---|---|---|---|
| 640 | $1,500,000 | 90% LTV | 85% LTV | 4 Months |
| 650 | $2,000,000 | 90% LTV | 85% LTV | 6 Months |
| 660 | $2,500,000 | 85% LTV | 80% LTV | 6 Months |
| 670 | $3,000,000 | 80% LTV | 75% LTV | 9 Months |
| 680 | $4,000,000 | 75% LTV | 70% LTV | 12 Months |
| 690 | $5,000,000 | 70% LTV | 65% LTV | 18 Months |
| 700 | $5,000,000 | 65% LTV | 60% LTV | Months |
| 710 | $1,500,000 | 85% LTV | 80% LTV | 6 Months |
| 720 | $2,000,000 | 80% LTV | 75% LTV | 6 Months |
| 730 | $2,500,000 | 75% LTV | 70% LTV | 9 Months |
| 740 | $3,000,000 | 70% LTV | 65% LTV | 9 Months |
| 750 | $4,000,000 | 65% LTV | 60% LTV | 12 Months |
| 760 | $5,000,000 | 55% LTV | 50% LTV | 18 Months |
Eligible Property Types:
- Single Family Residence
- Condo (non-warrantable condo maximum loan amount – $2,000,000)
- 2-4 Units – Maximum LTV – 85%
Eligible Occupancy Types:
- Owner-Occupied
- Non-Owner-Occupied
- Non-Owner-Occupied
- Condo (non-warrantable condo maximum loan amount – $2,000,000)
Underwriter Notes & Credit Notes:
- DTI (Debt-to-Income Ratio): 55%
- Interest-Only Available
- $5,000,000 Maximum Loan Amount
- 640 Minimum credit score
- No mortgage lates allowed in the previous 24 months
- Housing Credit Event Seasoning 36 Months (Bankruptcy, Foreclosure, Short Sale, Loan Modification)
- Minimum tradelines 2 open and active minimum of 12 months
- Cash-Out – No Limit
- Maximum CLTV (outside second) – 95% CLTV (Combined-Loan-to-Value)
Terms Available: ARM’s: 5/1 LIBOR, 7/1 LIBOR, Fixed Rate, 30 Year Fixed, 15 Year Fixed, Interest Only – 120 Month Term
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