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
How It's Calculated:
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:
SENIOR LOAN OFFICER
NMLS LICENSE 359382
BRE LICENSE 01201910
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