Non-Prime Super Jumbo Bank Statement Loan – 600 Credit Score
Non-Prime Bank Statement Loans provide financing for borrowers with a 600+ credit score. Self-employed individuals using personal or business bank statements, including commingled accounts is OK to verify income.
Super Jumbo options are available, allowing high loan amounts without traditional income documentation. These loans suit non-prime borrowers seeking tailored solutions.
Commingle Business and Personal Bank Account Statements
Experience adaptable Non-QM income documentation options designed for self-employed borrowers. Use personal, business, or commingled bank statements to verify income with ease.
These loans offer unmatched versatility, eliminating the need for traditional income proof while accommodating diverse financial profiles. Perfect for borrowers seeking tailored solutions.
Forms 4506-T and 4506-C Not Required
Alternative Income and Verification of Employment Documentation Options: 24 Consecutive Months. 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:
** “Borrower Prepared and 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.