Unique Real Estate Investor Loan Program

Designed for real estate investors, this Bank Statement loan can qualify investor income and self-employment income in different or multiple accounts. Rental income instead of tax returns, leases can be utilized to document income. In conjunction with bank statements from the bank account showing rent deposits.

Rental income may be included in conjunction with Borrowers' Bank Statement income.

Leases with Bank Statements

  • Real Estate Investor Alternative Documentation - Leases and bank accounts showing at least 4 consecutive months of rent receipt from all qualifying rental property leases. New lease and receipt of security deposit equal to one month of rent, rent seasoning not required. Also, in addition, (in conjunction with rental income) bank statements can be utilized just like a regular "bank statement loan", 12 months or 12 months.
  • Real Estate Investor borrower bank statements, business, personal or dba. Multiple comingle accounts OK if bank transfers can be identified as income revenue from an income source. Large deposits will be sourced.


Airbnb and Short-Term Rentals

Short-term Rental Income may be properly documented with the short-term rental facilitator statements, Short-term rental income dollar amount is derived from a 12 month rent deposit average. Lenders can document rental income with most previous 10 months rental facilitator statements.


Guidelines and Requirements

Underwriting Guideline exceptions and requirements are based on credit scores, Debt to Income ratio, equity position/loan to value ratio, occupancy, property type, and various variables and loan characteristics such as "credit event" seasoning.

Documentation type, credit depth and seasoning, borrower employment and business seasoning, Liquid asset sources, purchase seasoning.


"Benefit to Borrower"

Benefit to Borrower and the Ability-to-Repay Rule require Tangible Benefits to borrower such as Property Acquisition, Interest Rate Reduction, Credit Card Debt Consolation, Disposable Income increase, Fixed Rate or Term Extension Rate and Term Refinance, Cash Out Refinance for Business Expansion.


Bank Statements or "1099 Only" and/or REO Leases - Including 
Short Term Rental | Airbnb


Income Documentation

12-24 months Bank Statements or Form 1099 Only, Leases with out tax returns or Form 4506T

Terms: 30 and 15-year fixed. ARM, 5-year and 7-year


Debt-to-Income Ratio (DTI) up to 55%

Subordinate Financing Permitted

Business Purpose Available

Foreign National for either Second Home or Investment Property

Loan Amount >$1,500,000 – 2 Appraisals Required. Transfers Accepted on Approved AMC List


Interest Only Options Available

10 year Interest only term available for 40-year fixed rate and amortization up to 85% LTV, 80% LTV on 2-4 units.


Credit Score/LTV/Loan Amount Matrix:


720 Credit Score

  • 85% LTV to $2,500,000
  • 75% LTV to $3,000,000
  • 70% LTV to $4,000,000


700 Credit Score

  • 90% LTV to $2,000,000
  • 80% LTV to $2,500,000
  • 75% LTV to $3,500,000
  • 70% LTV to $3,500,000


680 Credit Score

  • 85% LTV to $2,000,000
  • 75% LTV to $3,000,000
  • 70% LTV to $4,000,000
  • 65% LTV to $5,000,000


660 Credit Score

  • 85% LTV to $2,000,000
  • 80% LTV to $3,000,000


660 Credit Score

  • 80% LTV to $2,000,000


Cash Out Refinance


700 Credit Score

  • 75% LTV to $2,000,000
  • 70% LTV to $3,000,000
  • 65% LTV to $4,500,000
  • 60% LTV to $5,000,000


680 Credit Score

  • 75% LTV to $2,000,000
  • 70% LTV to $3,500,000
  • 65% LTV to $5,500,000


660 Credit Score

  • 75% LTV to $1,500,000
  • 70% LTV to $2,000,000
  • 65% LTV to $3,500,000


Credit History Requirements - Credit Event Seasoning

  • Foreclosure, 24 Months
  • Bankruptcy, 24 Months
  • Short Sale, 24 Months
  • Deed In Lieu, 24 Months


Housing Payment History

  • Maximum 1 30-day late for previous 6 months

 

States:

Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Kansas, Maine, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin.