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Non-Prime Mortgage 80% LTV 600 Credit Score

Niche Loan Non-Prime Mortgage

Our non-prime jumbo mortgage loan program offers flexible financing options, allowing borrowers to qualify using either 12 or 24 months of bank statements.

Bank Statement Program for Self-Employed, 24 months

This program is designed to meet the needs of those who may not fit full income documentation criteria while seeking substantial loan amount options to consider. Speak to a Loan Officer (800) 718-8906.

Non-Prime Bank Statement Cash-Out Programs

This loan program includes cash-out options, allowing you to access up to $3,500,000 in loan amounts. Highlights of this program include the ability to take unlimited cash out up to $2,000,000 with up to 70% LTV, providing flexible and substantial financial solutions for those with unique lending needs.

Super Jumbo Program Benefits

The non-prime mortgage loan program offers flexible loan-to-value (LTV) ratios for owner-occupied properties. With this program, borrowers can secure up to 85% LTV for loan amounts up to $3,000,000, 80% LTV for loans up to $3,500,000, and 75% LTV for loans up to $4,000,000. These options provide opportunities for homeowners to access substantial financing tailored to their needs.

Cash Out Highlights:

  • Cash out up to $3,000,000 loan amount for debt consolidation
  • Unlimited cash out (cash in hand) up to $2,000,000 to 70% LTV
  • Cash Out qualifies for reserve requirement

LTV Highlights:

  • One day out of Short Sale up to 80% LTV program with 600 credit scorer
  • 85% LTV to $1,500,000 loan amount, Owner-Occupied program
  • 80% LTV to $1,000,000 loan amount, Owner-Occupied program
  • 75% LTV to $2,000,000 loan amount, Owner-Occupied program
  • 85% LTV Investment Non-Owner Occupied
  • Cash-Out Refinance to 90% LTV

Asset Depletion

  • Income documentation – not required
  • Employment Not Required
  • Qualify with enough Liquid Assets to equal loan amount or use 100% of Liquid Assets to cover 7 years / or 84 Months of Principal Interest Tax and Insurance “PITI” and Liabilities (subject to lender)

How Asset Depletion is Calculated: (subject to lender):

Borrower total sum of qualified liquid assets is greater than or equal to the total loan amount, no additional “income” is required to support the borrower’s Ability-to-Repay;  or just to illustrate and support the “Ability to Repay” (A-T-R) rule, also known as a “non-trid” loan program, or

Take the total amount of qualified liquid assets and divide that number by 84 (months), the sum of which can be utilized as a monthly income figure for debt ratio purpose, for example: $1,000,000 in liquid assets divided by 48 – $20,883 usable income. This source number can represent a borrowers’ total “monthly income” as a “stand-alone” source or in conjunction with any other type of income i.e., W2 salary and/or commission, bank statements (cash-flow) from either the primary or co-borrower.

Niche Guideline Highlights:

  • No Employment – borrower does not need to be currently employed.
  • 55% DTI based on a 40-year Interest-Only Payment
  • This loan program can be combined with any other lender income documentation program.
  • The borrower only must show two months of statements from a qualifying account.
  • 90% LTV for Purchase and 75% Cash-Out Refinance
  • Down to 500 Credit Score / Fico
  • Owner-Occupied or Investment Property

Available in the Following States:

Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Maine, Maryland, Massachusetts, Nevada, New Jersey, North Carolina, Oregon, Pennsylvania, Tennessee, Texas, Virginia, and Washington.

Alternative Income Documentation

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