Alt-Doc

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

BANK STATEMENT LOAN

Qualify your borrower using 12 months of business or personal bank statements. No tax return required.

  • 12 months business or personal bank statements
  • Up to 90% LTV Purchase Only
    (Full-Doc/Alt-Doc Platinum & Gold)
  • Minimum FICO 660
  • Loan Amount Up to $3M
  • Primary, Second Home & Investment
  • Our team calculates income for you
  • 30yr and 40yr I/O term available (Fixed or ARM)

See product matrix for more details.

P&L LOAN

Qualifying income is the net income from the P&L divided by the time period covered (12 months). Must be CPA/CTEC or EA compiled.

  • 12-month CPA/EA/CTEC prepared
  • Minimum FICO 660
  • Max DTI 50%
  • Loan Amount Up to $3M
  • Up to 80% LTV on Purchase and Rate & Term Refinance
  • Interest-Only Available
  • Primary, Second Home & Investment OK
  • First Time Homebuyers OK

See product matrix for more details.

WVOE LOAN

Being a cash earner should not stop your borrower from buying a home. No tax returns or W2's required. 

  • Minimum FICO 660
  • Up to 80% LTV on Purchase and R/T Refinance
  • Up to 75% LTV on Cash-Out Refinance
  • Interest-Only Available
  • Primary Residence Only
  • No W2’s, No Paystubs, No Tax Returns, No 4506-T
  • No Bank Statements Required
  • FNMA Form 1005 with 2-years history of employment in same industry and 1-year continuous at current job
  • WVOE must be completed by HR, payroll, or officer of the company

    See product matrix for more details.

    ASSET UTILIZATION

    Use your borrower's personal and business assets to qualify them for a home loan.

    • Minimum FICO 700
    • Up to 80% 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 more details.

    1099 LOAN

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

    • Minimum FICO 660
    • 2-year history with 1099 income
    • Up to 90% LTV on Purchase
    • Up to 75% LTV on Cash-Out
    • Loan Amount Up to $3M
    • Interest-Only Available
    • 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 more details.