Mortgage Options

Owner Occupied

 ► If borrower has post-closing liquid assets greater than the loan amount the automatically qualify (minimum 25% down, more required with  poorer credit).  Can use 50% of 401k/IRA balances. This is a great  program for a borrower that would otherwise have to pay capital gains  tax and/or IRS penalties to liquidate funds to close.  

Owner Occupied

 ► If borrower has high debt to income but substantial post-closing   reserves we can use a portion of the assets to supplement income/ability  to pay mortgage. 

Owner Occupied

 ► Use bank statements combined with a borrower prepared Profit & Loss   statement to document income for self-employed with no tax returns.   Possible with as little as 10% down with 24 months statements and  possible to use only 2 months of statements for 25% down payment. 

Owner Occupied

 ► If one borrower earns 55% of the qualifying income may use their   credit score only to qualify - minimum 5% down payment  

Owner Occupied

 ► If selling one property to buy another may qualify for the new   property WITHOUT selling or renting the old home or counting its payment  as long as there's 25% equity and it's listed for sale 

(minimum 20% down  on purchase) 

Owner Occupied

 ► Financing possible for borrowers with only 1 year history of a 2nd   job, overtime, bonus or self-employment.  Will also consider newly  self-employed if transitioning from similar work as an employee. 

More Options

Owner Occupied

 ► Written verification of employment for employed borrowers with no  paystubs,    

W-2's or tax returns - minimum 25% down  

Owner Occupied

 ► Use alimony/child support with only a 1 month history of receipt 

Non-Owner Occupied

 ► Qualify on the subject cash flow only (no employment needed) as long   as the rent exceeds PITI by $1, they qualify 

Non-Owner Occupied

 ► Property does NOT need a current lease - can use appraiser's market  rent estimate  

Non-Owner Occupied

  ► Can be titled to an LLC 

Exceptions

 ► Please keep in mind that this is only a sampling.  The bottom line is  that if a borrower has the ability to repay and equity in the  property/purchase there are a LOT of options and we will review each  situation to figure out the best one for the borrower - whether that's  conventional or 

non-traditional!