Reduced Doc Qualify 1 Year Tax Returns to Qualify; Asset Depletion/Asset Amortization/Asset Based to Supplement;
Cash Out - $2,000,000 Cash in Hand - 85% LT V
Reduced Income Documents:
- Lite Doc - One Year W2
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- Previous Year W2 30 Days Paycheck Stubs including YTD
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- 30 Days Paycheck Stubs Including YTD
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- 4506-T Required
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- One Year Personal Tax Transcripts
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Lite Doc - One Year Self-Employed Lite Doc:
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- One Year Tax Returns
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- Previous Year Business and Personal Returns, All Schedules Including K1 / 1065
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- Taxes Filed and Current with Extension
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- 2-Year Business Seasoning required
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- PNL - Previous Year through the most recent month
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- Only the Businesses we're using for Qualification
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Wage Earner Verification of Employment
- Written Verification of Employment / WVOE
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- Signed by the Owner, Officer of the company or Direct Supervisor
- Verbal Verification of Employment / VVOE:
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- Phone Number for the Human Resource Department
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- Small Business?; Direct Supervisor Phone Number
Self-Employment Verification of Employment
- Evidence of >2-Years Self-Employment The means to that end are as follows:
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- Tax Professional such as a CPA, EA, Professional Book Keeper
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- Verifiy Phone Number and Business Address via Third Party resource, Manta, etc.
Terms:
- 30 Year Fixed Rate, 5/1, 7/1, 10/1 ARMS's
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- 10-Year Interest Only
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- 20 Year Amortization
- 40 Year Fixed Rate, 5/1, 7/1, 10/1 ARMS's
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- 10-Year Interest Only
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- 30 Year Amortization
Unlimited Financed Properties -
Credit:
- 620 Minimum Credit Score - Up to a 55% Debt-to-Income Ratio (DTI)
- Seasoning for Major Derogatory Credit Requires Only 2 Years Seasoning
- Housing Payment History 1 30-Day Mortgage or Rent
- With a 620 can go up to 55% Debt to Income Ratio
Available in the Following States:
Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Maine, Maryland, Massachusetts, Nevada, New Jersey, North Carolina, Oregon, Pennsylvania, Tennessee, Texas, Virginia, and Washington.