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.
Airbnb and Short-Term Rentals – OK
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.
Rental income may be included in conjunction with Borrowers Bank Statement Gross Deposit Income. Leases with Bank Statements or 1099’s with or without Asset Depletion.
Real Estate Investor Bank Statement Documentation:
Leases and bank accounts showing at least 4 consecutive months of rent receipt from all qualifying rental property leases. The 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 24 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.
Loan Scenario Form – No Credit Check
Non-QM and 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
Consolidation, 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.
Use your 1099’s or the co-borrowers 1099’s for additional income qualification.
Alternative Income Documentation – Self-Employed and Business Owners
12-24 months Bank Statements or Form 1099 Only, Leases without 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.
Loan Scenario Form – No Credit Check
Guideline Highlights:
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.
Credit Scores | Loan-to-Value “LTV” | Loan Amounts & Matrix:
Purchase and R/T Refinance
| Credit Scores | Loan-to-Value Ratio | Laon Amount |
|---|---|---|
| 720 | 80% | $2,000,000 |
| 720 | 75% | $3,000,000 |
| 720 | 70% | $4,500,000 |
| 720 | 65% | $5,000,000 |
| 700 | 80% | $2,000,000 |
| 700 | 75% | $2,000,000 |
| 700 | 70% | $2,000,000 |
| 700 | 80% | $1,500,000 |
| 680 | 85% | $2,500,000 |
| 680 | 80% | $3,000,000 |
| 680 | 75% | $3,500,000 |
| 680 | 70% | $4,000,000 |
| 640 | 75% | $1,500,000 |
| 640 | 70% | $2,000,000 |
| 640 | 65% | $2,500,000 |
| 640 | 60% | $3,000,000 |
| 620 | 70% | $1,000,000 |
| 620 | 65% | $1,500,000 |
| 620 | 60% | $3,000,000 |
| 620 | 55% | $3,500,000 |
Cash Out Refinance
| Credit Scores | LTV | Maximum Loan Amount |
| 700 | 80% | $2,000,000 |
| 700 | 75% | $3,000,000 |
| 700 | 70% | $4,500,000 |
| 700 | 65% | $5,000,000 |
| 680 | 80% | $2,000,000 |
| 680 | 75% | $2,000,000 |
| 680 | 70% | $2,000,000 |
| 660 | 80% | $1,500,000 |
| 660 | 75% | $2,000,000 |
| 660 | 70% | $2,500,000 |
| 660 | 65% | $4,000,000 |
| 640 | 75% | $1,000,000 |
| 640 | 70% | $1,500,000 |
| 640 | 65% | $2,000,000 |
| 640 | 60% | $2,500,000 |
Credit History Requirements and 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 six months
Loan Scenario Form – No Credit Check
Available in the Following States:
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington.