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Bank Statement Loans - Asset Utilization - 1099 Only - P&L Only

BANK STATEMENT LOAN PROGRAM

Being self-employed should not stop your borrower from buying a home or refinancing.

  • Minimum FICO 620
  • Up to 90% LTV on Purchase and Rate & Term Refinance
  • Up to 85% LTV on Cash-Out
  • Loan Amount Up to $3.5M
  • Interest-Only Available with 30 or 40 Years Term
  • Primary, Second Home & Investment
  • Our team calculates income for you

See product matrix for all details | Products subject to change without notice | Contact your AE for details.

1099 ONLY
LOAN PROGRAM

Qualifying Income is 24-months average from the total earnings reported (10% Expense Factor)

  • Minimum FICO 620
  • 2-year history with 1099 income
  • Up to 90% LTV on Purchase and Rate & Term Refinance
  • Up to 85% LTV on Cash-Out
  • Loan Amount Up to $3.5M
  • Interest-Only Available with 30 or 40 Year Term
  • YTD documentation to support continued receipt of income from same source – Bank statement deposits (YTD)
  • 4506-T Required (Box 8) if the IRS 1099 transcript is utilized

See product matrix for all details | Products subject to change without notice | Contact your AE for details.

P&L ONLY
LOAN PROGRAM

Qualify your borrower based on the strength of their business with a 24-month CPA/EA prepared Profit & Loss Statement only.

  • Minimum FICO 620
  • Max DTI 50%
  • Loan Amount Up to $3.5M
  • Up to 80% LTV on Purchase and Rate & Term Refinance
  • Up to 75% LTV on Cash-Out
  • Interest-Only Available with 30 or 40 Year Term
  • Primary, Second Home & Investment OK
  • First Time Homebuyers OK
  • No tradeline requirements with 3 credit scores

See product matrix for all details | Products subject to change without notice | Contact your AE for details.

Asset Utilization
Loan Program

Use your borrowers personal and business assets to qualify them for a home loan.

  • Minimum FICO 700
  • Up to 90% LTV on Purchase and Rate & Term Refinance
  • 100% of Checking, Savings, and Money Market Accounts
  • 70% of Stocks, Bonds, and Mutual Funds
  • 70% of Retirement accounts if the borrower is over 59½
  • 60% of Retirement accounts if the borrower is under 59½
  • Eligible liquid assets are divided by 84 to calculate the monthly qualifying income.
  • Traditional DTI calculated using the qualifying income.
    Maximum DTI 43%

See product matrix for all details | Products subject to change without notice | Contact your AE for details.