Unconventional Mortgages (800) 718-8906

Unconventional Mortgages and Loans

(800) 718-8906

Unconventional Mortgages - A Wealth of Information Resource & Service: (800) 718-8906


Second Mortgage Bank Statement Loan

Second Mortgage Bank Statement Loan

Jumbo Second Mortgages

CLTV (Combined Loan-to-Value) / Loan Amount

* 85% CLTV / $250,000

* 80% CLTV / $350,000

* 75% CLTV / $500,000

Property Types:

* Single Family Residence

* Townhomes

* Condos

* PUD’s

Eligible Occupancies:

* Owner-Occupied Only

* Second Home

Cash Reserves:

* 3 Months PITI – Principal, Interest, Tax, and Insurance

Credit History:

Required Credit Score – 640

Credit Criteria Credit Accounts/Tradelines:

This second mortgage bank statement mortgage loan requires the borrower’s credit report to show a minimum of 3 open or closed tradelines with a minimum of 12 months of activity history or 2 tradelines with a 24-month history that also requires activity within the previous 12 months.

Authorized User-Accounts

Alternative Credit:

Alternative tradelines are acceptable such as a 12-month housing payment history. Credit accounts to which the borrower is not required to make payments are not considered an acceptable tradeline such as deferred loans, derogatory items such as collections, charge-offs, including accounts that were discharged in a bankruptcy.

Available in the Following States:

Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Hawaii, Illinois, Kansas, Kentucky, Maine, Maryland, Massachusetts, Nevada, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington.

reference# 225-7-18-5-5-14

Alternative Income Documentation

Contact a Loan Officer

Non-Qualified Mortgage Lending

Hard Money Loans

Investor Loans

Investment Property Loans