Alt-Doc

For the Non-Traditional Borrower.

Alt-Doc (Alternative Documentation) is a mortgage program that qualifies homeowners by using non-traditional methods and/or non-traditional documentation to determine qualifying income.

This unique solution has distinct approval parameters for borrowers that have demonstrated the ability to repay (ATR) a loan but cannot qualify for a standard mortgage program. Borrowers looking to take advantage of alternative qualifying methods such as Asset Depletion and/or bank statements.

Program Highlights

Prime

  • Up to 90% LTV1
  • DTI up to 55%2
  • Up to $3.5 million loan amounts
  • Crypto allowed if converted to
US dollar3
  • 100% of gifts funds allowed as down payment for LTV 75% or less
  • Interest-only payments available4
  • Short-term rental income permitted
  • Non-occ co-borrower OK
  • Asset seasoning: 1 month
  • Max acreage: 20
  • 2-unit properties and condos up to 85% LTV
  • Up to 80% LTV for cash-out
  • Reserves from 6 months

Advantage

  • Up to 90% LTV5
  • 1 x 30 x 12 OK
  • Up to $3 million loan amounts
  • 3-months reserves up to $1 million
  • DTI up to 50%6
  • Crypto allowed if converted to
US dollar7
  • 100% of gifts funds allowed as down payment for LTV 75% or less
  • Asset seasoning: 1 month
  • Interest-only option8
  • Short-term rental income permitted
  • Max acreage: 20
  • Non-occ co-borrower OK
  • 3+ years credit event OK
  • Up to 75% LTV for cash-out
  • 2-unit properties and condos up to 80% LTV

Expanded

  • 2 x 30 x 12 OK
  • 1 x 60 x 24 OK
  • 2+ years credit event OK
  • 3-months reserves up to
$2 million
  • Up to 85% LTV9
  • Crypto allowed if converted to
US dollar10
  • 100% of gifts funds allowed as down payment for LTV 75% or less
  • Short-term rental income permitted
  • DTI up to 45%11
  • Asset seasoning: 1 month
  • Max acreage: 20
  • 2-unit properties and condos up to 75% LTV
  • Non-occ co-borrower OK
  • Up to 75% LTV for cash-out

Flexible Qualification Methods

  • 12-month bank statement
  • P&L only
  • Asset Depletion
  • 1099 only
  • W-2 only
  • One-year tax return

1 Asset Depletion – up to 85% LTV; P&L – up to 80% LTV. 2 Requires 700+ FICO and max LTV 80%. Primary residence only, no FTHB. 3 For Asset Depletion: crypto must be converted 120 days prior. 4 Not allowed for FTHB; 700 minimum FICO; Max 85% LTV. 5 Asset Depletion – up to 85% LTV; P&L – up to 75% LTV. 6 Restrictions apply to DTI over 43%. 7 For Asset Depletion: crypto must be converted 120 days prior. 8 Not allowed for FTHB; 700 minimum FICO; Max 80% LTV. 9 Asset Depletion and P&L only not allowed. 10 For Asset Depletion: crypto must be converted 120 days prior. 11 Restrictions apply to DTI over 43%.

Price out a loan scenario.