Non-Prime Super Jumbo Bank Statement Loan - 600 Credit Credit

Alternative Income and Verification of Employment Documentation Options: 24 Consecutive Months Personal or Business Bank Statements

Forms 4506-T and 4506-C Not Required

For this program, Underwriter will utilize 100% of Personal Bank Statement deposits and as much as 90% (Expense Factor) 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

Self-Employed Alternatives

  • Bank Statements

  • Borrower Prepared P&L

  • Tax Returns Not Required

  • Form 4506-T Not Required

  • Form 4506-C Not Required

Jumbo Maximum Loan Amount - $10,000,000

  • 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
  • No Liquid reserve requirement - $0

 

Consult a Mortgage Professional to be properly pre-qualified:

Mortgage Pre-Qualification - Without a Credit Check

 

  • Purchase Loans | Loan-to-Value (LTV) - Credit Score:

    • 90% LTV - 680 Middle Credit Score

    • 85% LTV - 660 Middle Credit Score

    • 80% LTV - 640 Middle Credit Score

    • 75% LTV - 620 Middle Credit Score

    • 65% LTV - 600 Middle Credit Score

  • Cash Out Refinance | LTV - Credit Score:

    • 75% LTV - 680 Middle Credit Score

    • 75% LTV - 660 Middle Credit Score

    • 75% LTV - 640 Middle Credit Score

    • 70% LTV - 620 Middle Credit Score

    • 65% LTV - 600 Middle Credit Score

  • Major Derogatory Credit Seasoning Requirements:

    • Bankruptcy - 2 Years Seasoned

    • Foreclosure - 2 Years Seasoned

  • Property Types:

    • Single Family Residence (SFR)

    • Condo

    • Non-Warrantable Condos

    • Townhouse

    • 2-4 Unit

    • Condotels Case-Specific

  • Eligible Occupancy Types:

    • Owner Occupied

    • Non Owner Occupied

    • Second Home

 

Available in the Following States:

Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Hawaii, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Nevada, New Hampshire, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, and Wisconsin