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

BANK STATEMENT LOAN

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

  • Temporary Buydown options available! (Gold  & Platinum)
  • 12 months business or personal bank statements
  • 660 Min. FICO
  • $3M Max Loan Amount
  • 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, PTIN, or EA compiled.

  • 12-months - Must be CPA, CTEC, PTIN, or EA compiled.
  • 660 Min. FICO
  • Max DTI 50% at 75% LTV (Platinum)
  • Max DTI 55% at 80% LTV (Gold)
  • Loan Amount Up to $3.5MM
  • Interest-Only Available for repeat homebuyers
  • Primary, Second Home & Investment
  • First Time Homebuyers welcome!

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 55%

See product matrix for more details.

1099 LOAN

Qualifying Income is 12-months average from the total earnings reported (10% Expense Factor)

  • Minimum FICO 660
  • 1-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.