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Non-Prime True No Doc Loan Program

Non-Prime – No Income and No Employment

DTI up to 60% (back-end dti) – total monthly payment sum divided by your total monthly payments (as they appear on your credit report (including REO portfolio). Use minimum payment on credit cards/revolving account) Example, if your monthly payment(s) is $10,000 and your income is $21,000, your back-end DTI (Debt-to-Income ratio) = 47.6%

Following are a few underwriting guideline highlights:

  • Verification of employment and Income – Not Verified
  • Liquid Assets & Reserves – Not Required
  • 85% LTV Jumbo Financing $6,000,000
  • Super Jumbo Options – $20,000,000 Loan Amounts
  • Bank Statement Income Option Available to 85% LTV Financing

Favorable Terms, Pricing and Approval Conditions – Asset Depletion – liquid asset statements can almost always be utilized in conjunction for more favorable terms, conditions, and pricing – interest rates, points (0-point options too), etc.

Major Derogatory Credit “credit event” Seasoning Requirements:

  • Bankruptcy – 3 years
  • Bankruptcy/Foreclosure – 2 years (if not included in a bankruptcy)
  • Short Sale- 2 years
  • Debt Ratio Very Flexible to 55% DTI
  • Prepayment Penalties Available or More Favorable Rate and/or Pricing

Available in the Following States:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, and Wisconsin.

Alternative Income Documentation

Contact a Loan Officer

Non-Qualified Lending

Non-Qualified Lenders

Unconventional Lenders