Jumbo Bank Statement Program - 620 Credit Score

Self-Employed including 1099 Independent Contractors as well as W2 Commission Professionals. 3 Bank Statement mortgage options that provide flexibility for business owners that utilize both their personal account and Business account for business expenses, income deposits, transfer activity. In addition, this program also offers a P&L Only Program, also for self-employed borrowers. Interest only term flexibility. too. All of which do not require a signed Form 4506-T or Form 4506-C.

Alternative Documentation Options to $10,000,000

  • 6-, 12 or 24 Months Bank Statements
  • Profit & Loss (P&L Statement) Statement Only
  • Self-Employed Only defined by percentage of ownership >25%

Maximum Loan Amounts/LTV and Credit Score:

$1,500,000 Loan Amount

  • 620 Credit Score

    • 75% LTV Purchase or Rate/Term
    • 70% LTV Cash Out Refinance
  • 680 Credit Score

    • 90% LTV Purchase or Rate/Term
    • 85% LTV Cash Out Refinance
  • 660 Credit Score

    • 85% LTV Purchase or Rate/Term
    • 80% LTV Cash Out Refinance
  • 640 Credit Score

    • 80% LTV Purchase or Rate/Term
    • 75% LTV Cash Out Refinance

$2,000,000:

  • 700 Credit Score

    • 90% LTV Purchase or Rate/Term
    • 85% LTV Cash Out Refinance
  • 660 Credit Score

    • 85% LTV Purchase or Rate/Term
    • 80% LTV Cash Out Refinance
  • 640 Credit Score

    • 80% LTV Purchase or Rate/Term
    • 75% LTV Cash Out Refinance
  • 620 Credit Score

    • 75% LTV Purchase or Rate/Term
    • 70% LTV Cash Out Refinance

$3,000,000 Loan Amount:

  • 700 Credit Score

    • 90% LTV Purchase or Rate/Term
    • 80% LTV Cash Out Refinance
  • 680 Credit Score

    • 85% LTV Purchase or Rate/Term
    • 75% LTV Cash Out Refinance
  • 660 Credit Score

    • 80% LTV Purchase or Rate/Term]
    • 70% LTV Cash Out Refinance
  • 640 Credit Score

    • 75% LTV Purchase or Rate/Term
    • 70% LTV Cash Out Refinance
  • 620 Credit Score

    • 75% LTV Purchase or Rate/Term
    • 65% LTV Cash Out Refinance

$4,000,000 Loan Amount:

  • 720 Credit Score

    • 80% LTV Purchase or Rate/Term
    • 70% LTV Cash Out Refinance
  • 680 Credit Score

    • 75% LTV Purchase or Rate/Term 
    • 70% LTV Cash Out Refinance
  • 660 Credit Score

    • 70% LTV Purchase or Rate/Term
    • 65% LTV Cash Out Refinance

$8,000,000 Loan Amount:

    • 700 Credit Score

    • 75% LTV Purchase or Rate/Term
    • 75% LTV Cash Out Refinance
  • 680 Credit Score

    • 70% LTV Purchase or Rate/Term 
    • 65% LTV Cash Out Refinance
  • 660 Credit Score

    • 65% LTV Purchase or Rate/Term
    • 55% LTV Cash Out Refinance

$10,000,000 Loan Amount:

  • 740 Credit Score

    • 65% LTV Purchase or Rate/Term
    • 55% LTV Cash Out Refinance
  • 720 Credit Score

    • 60% LTV Purchase or Rate/Term
    • 50% LTV Cash Out Refinance

Eligible Borrowers:

  • Permanent and Non-Permanent Resident Aliens
  • US Citizens

Interest Only Term Options Available:

  • Fixed: 30 year and 40 year both feature Interest Only options
  • ARM: 3 year, 5 year, and 7 year ARM's

Eligible Property Types:

  • Single Family Residence (SFR)

Eligible Occupancies:

  • Owner-Occupied
  • Investment Properties

Credit Notes:

This program does not allow for any mortgage lates and requires 36 months seasoning since last major credit event, such as bankruptcy, Foreclosure, Short Sale, Deed-in-Lieu.

 

Mortgage Pre Qualification Form - Credit Check Not Required

 

States Available:

Arizona, California, Colorado, Florida, Georgia, Illinois, Maryland, Massachusetts, Nevada, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Washington, Wisconsin