Alternative Income Documentation: 12 Months Bank Statements
Income verification is not required for the bank statement second mortgage loan program. Instead of traditional income documentation, it uses alternative methods like bank statements to assess a borrower’s financial ability, making it a flexible option for those who may not meet standard income verification requirements.
Jumbo Bank Statement Second Mortgage
Jumbo loan amounts to $750,000, with combined (1st mortgage and second mortgage total) loan amounts permitted up to $2,500,000.
Our bank statement second mortgage loan program offers jumbo second mortgage loan amounts up to $750,000. It requires a minimum FICO score of 640 and allows a maximum CLTV (Combined Loan-to-Value) of 90%, making it ideal for borrowers seeking flexibility without strict income documentation.
This Non-QM mortgage lender program supports closed-end second liens, stand-alone options, or piggyback loans combined with a first mortgage. It’s a solution for those looking to finance purchases or consolidate debts with alternative qualification methods.
Closed End Second Liens, Stand Alone, or Piggyback
Investment properties eligible to 80% CLTV
Terms: various term options are available, including 10, 15, 20, and 30 years, with additional combinations like 30/15 and 40/15 Interest Only. Prepayment penalty – None
Title Vesting: Business Entity Vesting OK
** In-house underwriting available.
Available in the Following States:
Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Hawaii, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Nevada, New Hampshire, New Jersey, North Carolina, Oregon, Pennsylvania, Tennessee, Texas, Utah, Virginia, and Washington.