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No Doc No Credit
No credit report, bank statement, job needed.
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Full Doc Jumbo
Loan amount exceeds the limits for a conventional conforming loan.
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Bank Statement
Self-employed borrower with excellent credit whose income stated on their tax return won’t qualify them for the luxury home they can afford. Qualify with 100% on Personal Account Deposits and 50% on Business Account Deposits (12 consecutive months).
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DSCR (Debt Service Coverage Ratio)
Income/Employment Status/Tax Return is not required.
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Self Prepared Profit & Loss
Self-employed Only
Borrower signed P&L Allowed -
WVOE
Wage earner borrowers Only
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HELOC
Home Equity Line Of Credit.
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Closed End Second
Second Loan.
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Affordable Housing Portfolio Loan
Min. Down Payment 20%; WVOE and CPA P&L are Available.
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Temporary Buydown
The First-year Rate is Equal to Note Rate Minus 2%;
The Second-year Rate is Equal to Note Rate Minus 1%……
