Non-Prime Super Jumbo Bank Statement Loan

24 Consecutive Months Personal or Business Bank Statements

Alternative Income and Verification of Employment Documentation Options:

Self-Employed Alternatives:

  • Bank Statements

  • Borrower Prepared P&L

  • Tax Returns Not Required

  • Form 4506-T Not Required

Jumbo Maximum Loan Amount - $4,000,000

Flexible Debt-to-Income Ratios - 55%

Full Doc for Salary Employee - W-2's and 30 Days Paycheck Stubs

Full Doc for Commission Professional - 2 years 1040's and Profit and Loss Statement

Liquid Assets Not Required

No Mortgage Lates

Be advised, the following Credit Scores are Mortgage Credit Scores - Consult a Mortgage Professional to be properly pre-qualified without having your credit checked 

No Liquid reserve requirement - $0

For this program, Underwriter will utilize 100% of Personal Bank Statement deposits and as much as 90%  of Business Bank Statement deposits along with either a "Borrower Prepared Unaudited Profit and Loss" or an expense Letter from CPA or Tax Preparer Professional.

-Let a Mortgage Professional qualify your debt ratio

Rural properties OK for A through B- credit grades 

  • Purchase Loans LTV - Credit Score:
    • 90% LTV - 700 Middle Credit Score
    • 85% LTV - 640 Middle Credit Score
    • 80% LTV - 600 Middle Credit Score
    • 75% LTV - 550 Middle Credit Score
    • 65% LTV - 500 Middle Credit Score
  • Cash Out Refinance  LTV - Credit Score:
    • 75% LTV - 700 Middle Credit Score
    • 75% LTV - 660 Middle Credit Score
    • 75% LTV - 600 Middle Credit Score
    • 70% LTV - 550 Middle Credit Score
    • 65% LTV - 500 Middle Credit Score
  • Major Derogatory Credit Seasoning Requirements:
    • Bankruptcy- 2 years seasoned
    • Foreclosure - 2 years seasoned
  • Property Types:
    • Single Family Residence
    • Condo
    • Non-Warrantable Condos
    • Townhouse
    • 2-4 Unit
    • Condotels Case-Specific
  • Eligible Occupancy Types:
    • Owner Occupied
    • Non Owner Occupied
    • Second Home

 

R 3-9-20-1-4-5-12