ALTERNATE DOCUMENTATION PROGRAM

Traditional income or credit documentation can significantly challenge many home buyers. The Alt-Doc Program enables borrowers to qualify using alternative methods such as asset depletion and/or bank statements.

Who are these for?

>> Self-employed borrowers who do not meet traditional documentation requirements but can qualify using flexible alternatives*

* Based on reserves, payment history, and credit depth.

Flexible Qualification Methods

  • 1099 only
  • W-2 only
  • 1-year tax return
  • 12-month bank statement
  • Asset qualifier

ADVANTAGES OF THE ALT-DOC PROGRAM

  • 1st page of Bank Statement only
  • Loan amount up to $4 million
  • Max Cash In-Hand $2 million on cash-out
  • Asset seasoning: 1 month
  • Available for a primary residence, second home, and investment properties
  • Interest-only payments available
  • FICO score as low as 660
    And more!

THE COMMUNITY MORTGAGE PROGRAM

We offer a loan program that serves borrowers using smart underwriting. It addresses the regulatory rules limiting access to mortgages by eliminating the unnecessary documents that are not part of the credit underwriting decision.

Who are these for?

>> This is ideal if you’re self-employed, a small- or cash-business owner, retired, or otherwise have a unique situation.

GUIDELINES

  • Income documentation not required
  • Income not stated
  • Debt-to-income (DTI) not calculated
  • Credit underwritten based on LTV, FICO score, and liquidity
  • Can use for primary residences and second homes
  • Asset seasoning 30-days
  • Loan amounts up to $3 million
  • Minimum FICO score of 640
  • Debt consolidation = rate/term