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Jumbo Bank Statement Mortgage – $4,000,000

Self-Employed Bank Statement Super Jumbo

Eligible Employment Types:

* Self Employed Only

Income Documentation Options:

24 Months Business Bank Statements

Required Reserves:

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

Credit Requirements:

  • “Housing Event” Credit Seasoning: 24 Months
  • Bankruptcy – 24 Months
  • Foreclosure – 24 Months
  • Short Sale – 24 Months
  • Deed in Lieu – 24 Months

Required Credit Scores:

  • 660 Minimum
  • 660 to 80% LTV – $500,000 Cash Out
  • 680 to 90% LTV – $1,500,000

Credit Criteria: Multiple foreclosures and short sales OK ~

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)

Program Highlights:i

  • 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.