Alt Doc - Bank Statement Programs

Bank statement revenue, cash-flow centric

Income alternative | No Tax Returns | No Form 4506-T or Form 4506-C

Bank Statement Loans and Options:

1 Month - Personal Account

2 Months - Business Account (exceptions made)

3 Months - Business or Personal Account(s)

6 Months - Personal Account(s)

12 Months - Personal Account~

24 Months - Business Account~

Primary Borrower must: be Self-Employed | W2 Co-Borrower - OK 

Self-Employed is Defined by 25% Ownership in a Company

Asset Depletion

Asset Depletion / Asset Based: (in conjunction "Blended Income" with any Full Doc or Alt Doc program)

3 Reduced Doc Options:

1 year Lite Doc

1 year W2 or 1 year 1099 in lieu of the standard 2-year income history and employment history verification requirements including full Tax Returns with all Schedules

4506T is executed but for only the 1 year W-2. Not the previous year.

4506T is not executed for the self-employed borrower

Tax Returns not required

1 Year Tax Returns instead of the standard 2-year requirement

1 Year P&L Profit and Loss Statement

Borrower Prepared and Unaudited

Available Alt Doc: No Doc, Stated Income, Bank Statements, Reduced Doc, Asset Depletion, Lite Doc

Assets / Reserves:

24 Months Reserves Seasoned for 3 Months or VOD Verification of Deposit

Property Types:

SFR Single Family Residence

Condominiums > 4 stories

Condominiums - Highrise OK

Townhouses

1-2 Units

2-4 Units

Duplex

Occupancies:

Owner Occupied

Second Home

Non-Owner Occupied

Available Terms:

ARM's: 3/1, 5/1, 7/1, 10/1

Fixed Rates: 15 Year, 20 Year, 30 Year

600 Credit Score to 80% LTV

DTI - 55%

Underwriting Notes:

3 previous 30-day Mortgage Lates within Previous 12 Months OK

1 60-day Previous Mortgage Late within the Last 12 Months - OK

Short Sale, 1 day seasoned

Foreclosure, 1 year seasoned

Bankruptcy, 1 year seasoned

Gift Funds for down payment OK if from an immediate family member or it must be 60 days seasoned (exceptions with other compensating factors)

States:

Alabama, Arizona, California, Florida, Georgia, Maryland, Massachusetts, New Jersey, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington