Alternative Loans (Non-QM)
These mortgage loans are non-traditional programs that are not subject to the standard Fannie Mae and Freddie Mac lending guidelines. They allow borrowers more flexible loan terms regarding down payment, income documentation and down payment guidelines to help borrowers obtain a mortgage loan. Non U.S. citizens and Foreign Nationals and Self Employed borrowers could greatly benefit from them. These loans typically require a larger down payment and come with higher interest rates, fees, and some allow little to no credit history. Call or email us for rate quotes.
Programs:
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No Income Verification / No W2’s / No Bank Statements / No Taxes / No Ratios
Primary Residence or 2nd Homes
1 to 4 units, Condos, SFR or PUD
Loans up to $3m
25% Down Purchase
25% Equity for Refinance
35% Equity for Cash Out Refinance
680 Minimum Credit Score
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Bank Statement Loans
25% Down Primary Residence 680 credit score
30% Down Rental property 680 credit score
12 to 24 months of personal or business bank statements
2 Years Self Employed borrower only
Average all deposits over a 12 or 24 month period
12 months personal bank statements: 100% of personal deposits are averaged
24 months business bank statements: 60% of business deposits are averaged
No tax returns required
2 years self-employment required
Foreign National: Non US Citizen living outside the USA
30% down payment required
No credit history required
2nd Homes and Rentals okay with additional down payment
H1B Visa buyer:
Primary Residence
Available 1st month on the job
No credit history required
No waiting to establish credit
20% Down
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Hard Money Investment Property:
30% Down 660+ score
No BK or FC last 2 years
Refinance to 70% of home value
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Bridge Loans - Call for more info.
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Condotel Loans: see condotel program guidelines
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ITIN Loan:
Primary Residence
25% Down Payment
680+ Credit Score Required