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Jumbo Bank Statement Alt Doc – 640 FICO

Prime and Non-Prime Bank Statement Options Self-Employed Borrowers: Portfolio Direct Lender is a direct lender with their own portfolio of loan products and programs, and they make their own Non-QM and Non-Prime manual underwriting decisions. Some Portfolio lenders can also lend their own money as well as a portfolio they contribute to or commit to […]

Jumbo Bank Statement Mortgage – $4,000,000

Self-Employed Bank Statement Super Jumbo loans Borrowers utilize 12 or 24 months of business bank statements to demonstrate their Ability to Repay, eliminating the need for traditional income verification methods and potential headaches. As you’re aware, if you’re self-employed, 90 out of 100 times, self-employed borrowers face challenges with standard loan applications and prequalifying processes. […]

One-Year History Verification | VOE

Unconventional Mortgage Lending

1099 Only Lite Doc Income Documentation Bank Statement Loan | 660 Credit Score – 90% LTV to $1,500,000 Minimum Credit Scores: Portfolio Non-QM Lender Guidelines & Highlights Simplifying Non-QM Underwriting and process by defaulting to our core Non-QM guidelines and interpretation of the Ability to Repay rule. We can expedite and close your loan with […]

Business Description for Bank Statement Loans

Bank Statement Program Business Descriptions and Information One thing that you should know about qualifying or getting pre-qualified for a bank statement loan is the Non-QM lender will always require a Business Description upon underwriter submission or upon pre-underwrite submission. Some lenders call it a Business Narrative or Business Summary. Below is some of the […]

Bank Statement Loan Options for Self-Employed

Self-Employed Borrowers: Personal Bank Statements, Business Bank Statements and Comingled Bank Statement Accounts Bank Statement Alt Doc Options Available – 2023 Updates We calculate your monthly income number (DTI purposes) before your loan is submitted to the underwriter based on either your previous 3 months, 6 months, 12- or 24- months bank statements. Saves time […]

Jumbo Non-QM – Bank Statements or 1099 Only

New Jumbo Guidelines with Loan Amounts to $10,000,000 Most Non-QM lenders require a 600 minimum credit score to qualify for 85% LTV Cash Out for refinance loans and 15% down payment purchase loan. * Loan amounts >$2,000,000 – 2 Appraisals Required. One Appraisal Required to $2,000,000 * Self-Employed Borrowers and Non-QM Lenders Non-QM lenders are […]

Exception-Based Non-Prime Loan

Loan Purpose: Purchase, Rate/Term Refinance, Cash Out Refinance Maximum Loan Amount: $4,000,000. Maximum Cash Out: $2,000,000 Specialized lender leads the way in the Non-Prime niche mortgage lending space with over 50 years of collective wholesale lending and loan origination experience and have streamlined the approval and escrow work flow perfected the escrow for better time […]

Self Employed Borrowers

Self Employed Borrowers and Verification of Employment Mortgage Service for self-employed borrowers. Being self-employed can make getting a mortgage can be difficult. Self-Employed borrowers sometimes have a multitude of income sources or companies making for a complicated tax return including tax write-offs. How Can I Qualify for a Non-Qualified Mortgage Loan? There are 2 critical […]

Business Narrative for Bank Statement Loan Programs

Self-Employed Questionnaire Business information required to properly analyze bank statements Business Type: (product or service or both) If Other, please describe here: Provide details of how income is generated: Where do you conduct business: Office, Plant, Residence? More than one physical site? (Check One) YES NO If Yes, how many? What percentage of your business do […]

Bank Statement Calculation Mortgage Lenders

How is Bank Statement Income Calculated? Total deposits, less business expense ratio, annualized, multiplied by the % of ownershipStandard 50/50 deposit to expense ratio is used but can be up to 65/35 if supported by a CPA expense statement. Company Ownership Borrower(s) must own at least 50% of the company to use a business account […]

Non-Prime Mortgage 80% LTV 600 Credit Score

Niche Loan Non-Prime Mortgage Bank Statement Loan – Purchase or Refinance Loan | Super Jumbo Bank Statements (12 or 24 months) or traditional Full Doc Non-Prime Bank Statement Purchase and Cash-Out Programs Alternative Income Documentation Bank Statement Program for Self-Employed, 24 months Cash Out Highlights: Cash out up to $1,000,000 loan amount Unlimited cash out […]

Business Purpose Mortgage Loans

Business Purpose Loans This “business purpose” loan is a primary residence stated income mortgage program. It is a type of “stated income program” (stated income/ stated assets) simply because it does not require any kind of financial documentation and very limited employment documentation and several ways to circumvent the typical methods. Contact a Loan Officer […]

Portfolio Jumbo – Stated Income California

True Stated Income 202 | Forms 4506-T and 4506-C Not Required An alternative to the “bank statement loan” program for the well-qualified self-employed borrower. You could say this is an equity-based loan program in that the max LTV would be 75%. You could also call it a “portfolio loan” or “Non-QM” mortgage. Self-Employed Home Loan […]