1 Year Tax Return Program

This reduced doc loan program is for both W2 Wage Earner and Self-Employed borrowers.

Income Documentation - One Year Full Doc Tax Return

  • One Year business and personal tax return with all schedules
  • Profit and Loss Statement or balance sheet starting month after previous year tax return (file extensions OK case by case). Income to be stable or growing
  • Distribution Income OK
  • Rental Income OK without Schedule E
  • Trust Income OK

Verification of Employment - Self-Employed Borrowers

  • CPA Letter- Provided by any Tax Professional or equivalent such as a Certified Public Account (CPA), Enrolled Agent (EA) containing the following criteria:
    • Percentage of Ownership
    • Regulatory status
    • 2+ year history
    • Business name and physical address

Underwriter Notes

  • Loan Amounts - $4,000,000
  • LTV - 85%
  • Credit Score(s) - 620
  • Reserves - 3 Months
  • Occupancies - 75% LTV max on Investment Properties
  • Property Types - SFR, 2 Unit, 4 Unit, Condo
  • DTI 50%
  • Gift of Equity - OK

 Available Terms

  • 15, 30, and 40-Year Fixed
  • 3, 5, 7 and 10 Year ARMs
  • Interest-Only Available on 40-Year Term

 

States:

Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, North Carolina, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin