Alt-Doc ProgramFor 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 can do so with lower credit scores (down to 680) and loan-to-values (LTVs) up to 90%.
- Loan-to-value (LTV) up to 90% for purchase/rate-and-term/debt consolidation
- LTV up to 80% cash-out
- Debt-to-income (DTI) up to 50%*
- Loan amounts up to $4M
- Max cash in hand $2M on cash-out
- Reserves from 6 months
- Available for primary residence or second home
- Interest-only payments available
- FICO scores as low as 660
Flexible Qualification Methods
- 1099 only
- W2 only
- One-year tax return
- 12-month bank statement
- Asset Qualifier
*Restrictions apply to DTI over 43%
Borrowers who do not meet traditional documentation requirements but want the chance to qualify using flexible alternatives.