Unconventional Mortgages (800) 718-8906

Unconventional Mortgages and Loans

(800) 718-8906

Unconventional Mortgages - A Wealth of Information Resource & Service: (800) 718-8906

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Non-Prime True No Doc Loan Program

Non-Prime – No Income and No Employment

Non-Prime does not always mean bad or challenged credit.

Following are a few underwriting guideline highlights:

* 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%

* DTI up to 60% (front-end dti) – total primary residence monthly housing expense (PITIA) payment (not including REO portfolio) sum divided by your total monthly payments (as they appear on your credit report. Use minimum payment(s) on credit cards/revolving account(s) 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%

* 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.