- Qualify with 12 months personal, business or co-mingled bank statements
- No tax returns | No 4506T
- May use multiple streams of income: W2, retirement, rental, social security,
asset amortization, pension, etc.
- Available for primary residence, second homes & investment properties
Usable Assets: 100% checking & savings, business funds, stocks, bonds,
mutual & retirement funds may be used for reserves
- Gift funds allowed for reserves*
- Loan amounts up to $3MM | Cash out up to $2.5MM
- Short-term rental properties allowed
- Only 1 appraisal required when loan amount is ≤ $1.5MM (LTV ≤ 75%)
- 5/1, 7/1, 10/1 ARM**
- 15 and 30 year fixed available
- 40 year fixed I/O available**
- 90% LTV with 680 FICO
- Credit scores as low as 600*** | DTI up to 55%***
A borrower with a 25% or greater ownership interest in a business is considered self-employed.
All states (including DC) are eligible except DE, ME, MA, WY.
*Subject property must be primary residence or second home with minimum 680 FICO score
**Interest only options available on all ARMS. 40 year I/O: Interst only payments required for the first 10 years, then loan amortizes fully over the next 30 years. No I/O in Illinois.
***Not available in Premier.