Jumbo Bank Statement Mortgage Program | Jumbo Loan Amount - $5,000,000

Eligible Employment Types:

  • Wage Earner (Co-Borrower)
  • Self Employed (C Corp, S Corp, LLC, Partnerships, 1099 Sole Proprietor)

Income Documentation: 

  • Full Doc Full Income Documentation:
  • Wage Earners: W-2's and paystubs
  • Self Employed: Tax returns, business and personal
  • 1-year 1040 plus schedule C

Required Reserves:

  • 3 Months (PITI/PITIA)
  • 3 months PITI for all REO Real Estate Owned

Purpose / Loan-to-Value %:

  • Purchase - 10% Down Payment
  • Rate & Term Refinance - 90% LTV Loan-to-Value
  • Cash Out Refinance - 85% LTV Loan-to-Value

Eligible Property Types

  • SFR Single Family Residence

  • Condos - Warrantable & Non-Warrantable

  • Condotels

Eligible Occupancies

  • Owner-Occupied

  • Non-Owner/Investment

  • Second/Vacation Homes

Available Terms

  • ARM: 3,5 and 7 Year

  • 30-Year Fixed (Interest Only Available)

  • 40 Year Fixed (Interest Only Available)

Credit Requirements

"Housing Event" Credit Seasoning:

  • Bankruptcy - 12 Months

  • Foreclosure - 2 years required

  • Short Sale - 2 years required

  • Deed in Lieu - 2 years required

Required Credit Scores

  • 610 Minimum

  • 660 to 80% LTV - $500,000 Cash Out

  • 680 to 90% LTV - $1,500,000

Credit Criteria

  • Multiple foreclosures and short sales OK

Program Highlights

  • 50% DTI Debt-to-Income ratio
  • First Time Home Buyers - OK
  • 100% Gift Funds from Family Member - OK
  • Rent-free housing history OK
  • Pre-payment penalty options
  • Investors: unlimited financed REO Real Estate Owned OK
  • Non-Occupant Co-Borrower - OK

Available in the Following States: 

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Kansas, Kentucky, Maine, Maryland, Massachusetts, Nevada, North Carolina, Oregon, Pennsylvania, Tennessee, Texas, Virginia, and Washington