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Non-Qualified Mortgage Jumbo 55% DTI

This loan program is designed for home-buyers (purchase transaction) and home-owners (refinance transaction) that do not want to provide (Form 4506-T not required and Form 4506-C also is not required) or are unable to produce (business and/or personal tax returns, W-2’s, paycheck stubs, lease agreements, etc.) 1099 Only Loans, Asset Depletion, Bank Statement Loans, Business Purpose Loans, Lite Doc, No Doc, Reduced Doc, Stated Income, No Ratio Loans.

Asset Utilization/ Cash-Flow to $4,000,000

Non-traditional income documentation have been on their job/profession business owner for less than two years or have a major credit event on their credit report (Non-Prime) such as a bankruptcy, foreclosure, short-sale, loan modification, or automobile repossession, have a Full Doc debt to income ratio higher than 43%, (as his as 55% DTI)

55% Debt-to-Income DTI Ratio

55% DTI OK with term flexibility, 40-year amortization payment with or without an “interest-only” payment option or Conventional High Balance fall-out.

Loan Purpose/ Percentage of Financing:

* Purchase – 90% LTV

* 85% LTV Rate/Term Refinance

* 80% LTV Cash Out Refinance

3 Options for Self-Employed

Alt Doc (24 months income and/or employment):

* Income Documentation Program: | “Alt Doc” 24 Months (income documentation

* * 24 Months Bank Statements

* * * Asset Depletion in conjunction

* 2 Years1099(s)

* * Asset Depletion in conjunction

* P&L Only (Borrower Prepared & Unaudited P&L)

* * Previous 24 months with 2 months most recent business bank statements to support

Lite Doc (12 months income documentation history)

Income Documentation Program: | “Lite Doc” 12 Months (income documentation)

*12 Months Bank Statements

* * Asset Depletion in conjunction

* 12 Months 1099(s)

* * Asset Depletion in conjunction

* P&L Only

* * Previous 24 months with 2 months most recent business bank statements to support

Reduced (12 months employment documentation history)

Our Employment Program(s) offers a “Reduced Doc” option, requiring only 12 months of employment history for self-employed and W2 wage earners.

This flexible program accepts various forms of employment documentation, including Articles of Incorporation, business certificates, and buyers licenses. Additionally, P&L Only Industry Certification issued by the government is also recognized.

Self-Employed & W2 Wage Earner | Reduced Doc

Reduced Doc ~~~

Employment Documentation Program: | “Reduced Doc” 12 Months Employment History (employment documentation)

* Articles of Incorporation AOI

* Business Certificate

* Buyers License

* P&L Only Industry Certification (government issued)

12 or 24 Month Bank Statement Options

Our program accepts 12 or 24 months of bank statements for employment verification through bank statements or asset depletion/utilization methods. This flexible approach accommodates various financial scenarios by recognizing both asset depletion and bank statements. With options for 12 or 24 months of bank statements, we provide a comprehensive solution for employment documentation.

Self-Employed Alt Income: Borrower Prepared P&L ~

Our Self-Employed Alt Income program allows self-employed borrowers to use borrower-prepared P&L statements for income verification. For co-borrowers who are W-2 employees, only 1 year of W-2 is required instead of the traditional 2-year documentation. This flexible approach is based on bank statement cash flow, making it easier for self-employed individuals to qualify.

Non-prime lending caters to borrowers who do not qualify for conventional loans due to factors like limited credit history, lower credit scores, or recent financial setbacks such as bankruptcy or foreclosure. These loans often come with higher interest rates and fees to offset the increased risk to lenders, but they provide an essential opportunity for individuals to access financing when traditional avenues are unavailable.

Lenders offering non-prime loans typically evaluate a wider range of criteria beyond standard credit scores, such as employment history, income stability, and alternative credit data. For example, they may accept a mortgage credit score of 660 or lower and consider major credit events like bankruptcy, foreclosure, short sale, or loan modification if they occurred at least 2-3 years ago. This flexible approach allows borrowers with unconventional financial backgrounds to secure loans, albeit with stricter terms and higher costs, enabling them to rebuild credit and improve their financial standing over time.

Borrower Credit Profile Note Highlights:

Credit Notes:

* Mortgage Credit Score: 660 minimum middle score or lower of 2 scores

Major Credit Event Seasoning:

* Bankruptcy – 3 years from discharge date

* Foreclosure – 2 years

* Short-Sale – 2 years

* Loan Modification – 2 years

Available in the Following States:

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

Alternative Income Documentation

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Non-QM Mortgage Lending

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