ALLIED EQUITY A Diversified Mortgage Company
400 North Mountain Ave., Suite 223, Upland, CA 91786
Phone  909-932-9226 Fax  909-803-9840

 NICHE LOAN PRODUCTS FOR THE NON-CONFORMNING BORROWER

 

90% LTV EZ -DOC Self Employed Loans (up to $3Mil)

BANK STATEMENT LOANS

Although not as widely available to consumers as had been prior to the  financial crisis, these "EZ-Doc" loans are entering back into the market. Perfect for self-employed individuals that can show cash-flow, decent credit history and an ability to repay the loan.

The general guidelines are as follows: (Self-Employed)

Call me to discuss Loan To Value scenarios, generally up to 90%

Loans from 100k - $3 Mil

No 1040 tax returns required

Income calculation is derived from Year to date  Profit and Loss statement for business

May require minimum of 12 months bank statements to show cash flow deposits.

 

12 MONTH BANK STATEMENT  PROGRAM

For those that can place 10% down payment on a home and want to streamline the mortgage process, we can also offer the 3 month bank statement program. Guidelines are generally as follows:

-30 year and 7/1 loans

- UP TO 90% LOAN TO VALUE NO MI!

- UP TO $3MIL LOAN

- FICO as low as 620

- 12 months business bank statements (deposit activity is the source for income for business)

- US citizens, Permanent resident aliens, Non-permanent resident aliens allowed,

- owner occupied, non-owner occupied (SFR / PUDs)

- can use personal or business bank accounts for qualifying. (one or the other, but not both)

- Bank statements can vary from 12 months - 24 months depending on the strength of the borrower, but can generally qualify with only providing 12 months business bank statements if the deposits support the business and expenses.

 

 ASSET DEPLETION MORTGAGE LOANS

 For those borrowers that have sufficient liquid assets, but cant show income for various reasons, this loan might be the solution.

Qualify with only enough Liquid Assets to cover the loan balance! OR Use 100% of Liquid Assets to cover 7yrs or 84 Months of PITI & Liabilities

 

Highlights:

  • Your Borrower Does NOT have to be currently Employed
  • You Only Need to Show Two Months of Qualifying Account
  • 50% DTI - Up to 90% LTV - Purchase or C/O Refinance
  • Down to 500 Fico Owner Occupied or Investment

How It's Calculated:

  1. 84 Months Divided by the Total Assets to be Used
  2. Ex. $200,000 in Liquid Assets = $2,380  Additional Monthly Income!
  3. L.O.E Documenting Source and Contemplated Depletion
As more non-conforming mortgage loans become available, I will expand the products into this page, so please check back often and if you are one of those borrowers that feel the banks have "forgotten" about you, these loans might be the solution that you have been waiting for.

for your convenience, here are some helpful links to my website: 

Apply Online

Contact Me 

Home 

 

 

JOE SANCHEZ

SENIOR LOAN OFFICER

ALLIED EQUITY 

1-909-932-9226 

NMLS LICENSE 359382

BRE LICENSE 01201910

ALLIED EQUITY ALL RIGHTS RESERVED 2018

 

Joe Sanchez
Allied Equity
Ph: 909-932-9226Fax:909-803-9840
400 North Mountain Ave., Suite 223
Upland, CA 91786 US
CA DRE License # 01201910, NMLS: 359382, Company ID: 359090
www.alliedequity.com
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