1099 Only Lite Doc Income Documentation - Portfolio Non-QM Lender Guidelines & Highlights
Bank Statement Loan | 660 Credit Score - 90% LTV to $1,500,000
- 1-Year Income and Employment Verification Documentation, Asset Utilization
- Form 4506-T and 4506-C is Required - One Year
- Tax Return is Required - One Year for Lite Doc
Credit Scores
600 Minimum Score for the Primary Income Earner
580 Minimum from any Co-Borrower
Simplifying Non-QM Underwriting and process by defaulting to our core Non-QM guidelines and interpretation of the Ability to Repay rule. We can expedite and close your loan with minimal conditions and fast closing
Underwriter Niche Guidelines
- VOR (Verification of Rent) Not Required
- No Credit LOE's (Letter of Explanation) for previous addresses, work history, recent credit inquiries
- Reserves not required on Primary Residence
- No Liquid Assets Requirement for either a Rate and Term Refinances but also, Cash-Out refinance
- No Residual Income requirements
- Six Months Title Seasoning on Market Value Cash-Out Refinance
- First Time Homebuyers qualify the same
- 100% Gift Funds with 5% Borrower Contribution
- 55% DTI (debt-to-income) Ratio
- Cash-Out Available
- Fixed-Rate Interest-Only Terms Available
- Prepayment Options Available
Available in the Following States:
Alabama, California, Florida, Georgia, Hawaii, Illinois, Maryland, Nevada, New Jersey, North Carolina, Oregon, South Carolina, Texas, Utah, Virginia, and Washington