Non-Qualified Mortgage Lender Serving California

Non-Qm lender offering loan programs to be advantageous to Self Employed Borrowers by way of alternative underwriter guidelines. Unconventional income documentation such as Bank Statements and liquid Asset Depletion and Asset Distribution as an alternative to business and personal tax returns, P&L's, etc. Form 4506-T, not required.

Bank Statement Program

Income Documentation Types:

Alternative Income Documentation

  • 12 Months Personal Bank Statements (with and without 3 months business bank statements)
  • 12 Months Business Bank Statements
  • 24 Months Personal Bank Statements
  • 24 Months Business Bank Statements
  • Asset Depletion
  • Asset Distribution - Seasoning Not Required
  • Rental Leases with 3 Months Bank Statements (Including Short-Term such as AIRBNB)
  • 1099 Only
  • 1-Year 1040 Plus Schedule E
  • Non-Occupant Co-Borrower 

Maximum Loan-to-Values (LTV)

  • Purpose: Purchase, Rate & Term and Cash Out Refinance
  • Purchase (10% Purchase Down Payment) and Rate & Term Refinance - 90% LTV 
  • Cash Out Refinance - Cash Out for Whatever Purpose (Cash-in-Hand) $2,500,000 Maximum Cash Out

Maximum Loan Amounts

  • Jumbo to $3,000,000
  • Super Jumbo to $5,000,000

Eligible Employment Types

  • Self Employed (>25% ownership)

Verification of Self-Employment Employment (VOSE)

  • Business License
  • CPA Letter ("Tax Professional")
  • Internet Business Listing
  • Sellers License

Reserve Requirement

  • Subject Property PITIA (Principle, Tax, Hazard Insurance and Association Dues) - 6 Months
  • REO - 6 Months Additional for Each Real Estate Owned

Eligible Property Types

  • Single Family Residence (SFR) - Attached
  • Single Family Residence (SFR) - Detached
  • Condos - < 4 Stories
  • 2-4 Unit

Eligible Occupancies

  • Primary
  • Owner Occupied/Investment
  • Non-Owner Occupied/Investment
  • Second/Vacation Homes

Available Terms

  • ARM's - 5 Year and 7 Year
  • 30 Year Fixed and 40 Year Fixed
    • Interest Only - 10 years

Required Credit Criteria

Credit Scores: Tri-Merge Report

  • 660 Middle Credit Score

"Housing Event" Credit Seasoning:

  • Bankruptcy - 3 years required
  • Foreclosure - 3 years required
  • Short Sale - 2 years required
  • Deed in Lieu - 1 year required

Underwriter Notes:

  • Form 4506-T Not Required
  • First Time Home Buyers - OK
  • Gift Funds from Immediate Family Member - OK
  • Rent-Free Housing History - Not Allowed
  • Pre-Payment Penalty Options Available
  • Investors: Unlimited Financed Real Estate Owned (REO) - OK

Available in the Following California Counties:

Alameda | Contra Costa | El Dorado | Fresno | Kern | Kings | Los Angeles | Madera | Marin | Napa | Merced | Monterey | Orange | Placer | Riverside | Sacramento | San Bernardino | San Francisco | San Joaquin | San Luis Obispo | San Mateo | Santa Barbara | Santa Clara | Santa Cruz | Solano | Sonoma | Stanislaus | Tulare | Ventura | Yolo