NonQM Products

1 Page Bank Statement

Results without all the BS
(Bank Statements, that is!)

• Page 1 of the Business Bank Statement reflecting the company on the P&L
• Qualify off the P&L only: nothing more, nothing less 12 or 24 month P&L OK
• Purchase LTV’s up to 90%
• Cash-Out LTV’s up to 80%
• Loan Amounts up to $4MM
• DTI up to 50%
• 50% business ownership required

Asset Qualifier:

For those sitting stacks of cash looking to
put their savings to work

• Option 1 – 60 months
  •  Minimum Eligible Assets required are the lessor of $1,000,000 or 150% of the loan amount
  • Qualifying income based upon Total Assets Eligible for Depletion, less down payment, less out of pocket closing costs, less required reserves, divided by 60.
  • Maximum DTI 43%.

• Option 2 – 84 months
  • No Minimum Eligible Assets amount is required.
  • Qualifying income based upon Total Assets Eligible for Depletion, less down payment, less out of pocket closing costs, less required reserves, divided by 84.
  • Maximum DTI 43%

• Minimum Eligible Assets required is the lower of $1,000,000 or 150% of the loan balance.
• Qualifying income based upon Total Assets Eligible for Depletion, less down payment, less out of pocket closing costs, less required reserves, divided by 84.
• Maximum DTI 43%. Rental Income
• Rental properties are calculated based on 75% of lease less PITIA to determine impact on debt service.

Bank Statement Qualifier:

For those who are self-employed and
looking to own a home

• Personal and Business Bank Statements allowed
• 12 month and 24 month Bank Statement options
• Max LTV (purchase only)
• Up to 90% on Non QHEM Plus
• Up to 85% on standard Non QHEM
• 2nd Home and Investment properties up to 80% LTV
• Loan amounts up to $4MM
• Non-Warrantable Condos allowed
• DTI up to 55%
• Credit scores down to 600
• Recent Credit Events Allowed
• 7/6 and 10/6 ARM, 30, and 40 yr I/O option not fixed
• Multiple financed properties allowed