Jumbo and Super Jumbo Alt Doc Mortgage

  • Purpose: Purchase, Rate/Term and Cash Out:
  • 6 Months Purchase/Title Seasoning for "Current Market Value"

Year Lite Doc - W2 Wage Earner

Wage Earner Income Documentation - Lite Doc

  • One (1) Year Employment Verification
  • Previous Year W2 and YTD Paycheck Stub
  • Verbal Verification of Employment
  • 4506-T Signed and Executed

Self Employed Income Documentation - Lite Doc Bank Statements - 1 Year Self-Employed

Bank Statements for Income: 8 Options:

  • 12 Months Business or Personal Bank Statements
  • 6 Months Personal Bank Statements
  • 3 Months Personal Bank Statements
  • 2 Months Business Bank Statements
  • 1 Month Personal Bank Statement
  • 24 Months + P&L (Profit & Loss Statement)

Eligible Employment Types

  • C Corporation
  • S Corporation
  • Independent Contractor, LLC, Partnerships
  • Self-Employment for Verification of Employment (VOE): Evidence of Ownership Documentation

Alt Doc Self-Employment VOE Document Options

  • Business Entity 2 Years: Articles of Incorporation
  • Evidence of Ownership: 2 Years: Business License, CPA Letter
  • Schedule C's

Wage Earner Co-Borrower: Co-Borrower Verbal Verification of Employment

Liquid Assets Requirements - Separate Sources of Funds Must be Documented and Verified:

  • 80% LTV - 6 Months PITI
  • 80% LTV - 3 Months PITI

Property TypesSFR - Detached; SFR - Attached; Warrantable Condominiums; PUD's

OccupanciesOwner-Occupied; Non-Owner Occupied / SFR Investment

Credit Criteria

Credit Scores

  • Credit Score: 600 Minimum

Credit Criteria Notes

  • Mortgage – 12 Months, 0X30 Days Late. 24 Months, 0X60 Days
  • Back Taxes, Judgments, Charge-Offs, Tax Liens, Title Liens. All Must Be Paid Before the Closing Table

Credit Seasoning Requirements

  • Bankruptcy
  • Chapter 7 - 24 Months
  • Chapter 13 - 36 Months
  • Foreclosure - 36 Months

Separate sources of income must be documented and verified.

Available in the Following States:

Alabama, Arizona, California, Colorado, Florida, Georgia, Hawaii, Illinois, Kansas, Kentucky, Maine, Nevada, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington