1099 Only Lite Doc Income Documentation
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
Minimum Credit Scores:
* 600 Minimum Score for the Primary Income Earner
* 580 Minimum Co-Borrower
Portfolio Non-QM Lender Guidelines & Highlights
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, Tennessee, Texas, Utah, Virginia, and Washington.