×

Simply the Lowest Cost...

Stated Programs

Alternative Documentation qualification is based on either bank statements or eligible assets.

Asset Qualification
Employment and Income are not required to be disclosed on the 1003
Minimum FICO score 620
Loan amount $100K to $3M
Maximum cash out $2M
Loan qualification based on verified liquid assets
15 & 30 year fixed, 5/1, 7/1, 10/1 ARM Interest Only available on ARMs
DTI not calculated
Payment shock not calculated
4506T not required
Full asset documentation required for funds to close, reserves and qualifying asset requirements
Assets can be cash in the bank, stocks, bonds, IRAs, 401Ks, mutual funds or retirement accounts
Asset levels in the verified accounts are expected to be consistent and sustained
No ownership seasoning requirement for cash out refinance
Cash out from subject may be used towards reserves
Gift Funds & Gift of Equity allowed
Bank Statements
Minimum FICO score 620
No payment shock
Loan amount $100K to $3M
Maximum cash out $2M
Bank statements with or without asset amortization
W-2 co-borrower is allowed with income and employment traditionally verified
Personal or business statements
DTI up to 50%
Payment Shock not calculated
If business and personal accounts are combined, or if borrower using only business bank statements, income is evaluated using a 50% expense factor for business-related deposits.
Statements for the most recent 12 month period required
Assets must be fully documented
Retirement income is usable with verification (1099, award letter, etc.)
15 & 30 year fixed, 5/1, 7/1, 10/1 ARM. Interest only available on ARMs**
No ownership seasoning requirement for cash-out refinance
Cash out from subject may be used towards reserves
Gift Funds and Gift of Equity allowed

Quick Quote

Newsletter

©2017 United Pacific Lending