Non-QM | Self-Employed Mortgage Option - Non-Qualified Mortgage Program

Income Documentation - One Month Bank Statement Program

The Income is Stated and is Not Calculated from the One-Month Bank Statement. The Bank Statement Qualifying Criteria is the Account 1) ends in a Positive Balance with no NSF's

This One-Month Bank Statement Program is Weighed Almost Entirely on the Credit History of the Borrower and Again is Stated with a 50% Debt-to-Income (DTI) Ratio and Cash Reserves are Not Required. No 4506-T form means no tax transcripts

Jumbo Non-QM Mortgage Program

Jumbo Loan Amounts: $4,000,000

Verification of Employment options

  • Business License
  • CPA Letter
  • EA (Enrolled Agent) Letter
  • Articles of Incorporation
  • Articles of Business Organization
  • 4506-T Not Required


Purpose:
 Purchase, Rate/Term and Cash Out - | Owner-Occupied Only | 
Single Family Residence Only:


Credit Score 620:

LTV: 70% Purchase | 65% Cash-Out | $500,000


Credit Score 640:

  • LTV: 70% Purchase | 65% Cash-Out | $1,000,000


Credit Score 660:

  • LTV: 75% Purchase | 70% Cash-Out | $1,500,000


Credit Score 680:

  • LTV: 80% Purchase 75% Cash-Out | $1,500,000


Credit Score 680:

  • LTV: 85% Purchase | 70% Cash-Out | $2,000,000


Credit Score 700:

  • LTV: 85% Purchase | 80% Cash-Out | $2,500,000


Credit Score 720:

  • LTV: 85% Purchase 75% Cash-Out | $3,000,000


Credit Score 720:

  • LTV: 90% Purchase | 85% Cash-Out | $4,000,000


Credit Score 680:

  • LTV: 80% Purchase | 75% Cash-Out | $1,500,000
  • LTV: 75% Purchase 70% Cash-Out | $2,000,000


Credit Score 700:

  • LTV: 85% Purchase | 80% Cash-Out | $2,500,000
  • LTV: 80% Purchase | 75% Cash-Out | $3,000,000


Credit Score 720:

  • LTV: 90% Purchase | 85% Cash-Out | $3,500,000
  • LTV: 85% Purchase | 80% Cash-Out | $4,000,000

 
Eligible Property Types:

  • Single Family Residence - Attached (SFR)
  • Single Family Residence - Detached (SFR)


Credit:
 

  • Credit Score 620 Minimum
  • Clean mortgage history - 5 years seasoned (24-month history verification)

 
Depth Criteria:

  • One open account tradeline with at least 3 years seasoning
  • Two open account tradelines with at least 1 years seasoning


Major "Housing Event" Required Seasoning: 

  • Bankruptcy
    • Chapter: 7 - 12 Months
    • Chapter: 13 - 24 Months
  • Foreclosure - 36 Months
  • Short Sale -  36 Months
  • Deed-In-Lieu - 36 Months
  • Consumer Credit Counseling 2 Years
  • Charge-offs, Collections, Tax Liens - 1 Day

 

States:


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

 

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