Non-Qualified Mortgage Jumbo Programs

Non-QM Income Documentation for Self-Employed Borrowers and W2 Commission Employee

Asset Utilization and Cash-Flow (bank statements) Program - Creative Financing. This unique loan program is designed for borrowers who fall just outside prime jumbo.

Two Documentation Categorical Bank Statement Options:

  • Twenty Four Months Business Bank Account with or without Asset Depletion (asset utilization) or,
  • Twelve Months Personal Bank Account with or without Asset Depletion (asset utilization)
  • Six Months Person or Business Bank Statements

Low Doc Income and Employment History

  • One Year W-2 and/or 1-Year Tax Return (stand-alone or in conjunction) with YTD Profit & Loss (P&L) - Borrower Prepared and unaudited
  • Bank Statements and Low Doc Programs are for Self-Employed Borrowers Only. Co-Borrower W-2 Employee OK for Low Doc - 1 Year W-2 in Lieu of the Traditional 2-Year Requirement
  • Max Debt-to-Income Ratio: (DTI) 50% Based on and/or (stand-alone or in conjunction) Liquid Assets, Cash-Flow and Real Estate Portfolio equity

Loan Purpose / Percentage of Financing

  • Purchase - 10% Down Payment
  • Refinance - 90% LTV
  • Cash Out Refinance - 85% LTV

Credit Notes & Highlights

  • Minimum Mortgage Credit Score: 660 (middle score)
  • Two Years Seasoning Required on Bankruptcy, Foreclosure, and Modification
  • Maximum Jumbo Loan Amount - $6,000,000

Available in the Following States:

Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Hawaii, Illinois, Nevada, New Jersey, North Carolina, Oregon, Pennsylvania, Texas, Utah, Vermont, Virginia, Washington, and Wisconsin


Reference - 1245587