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Specialty Mortgage Programs

Stated Income Loans - This documentation list is based upon the standard Freddie Fannie conventional loan but can be used for the stated income Jumbo Mortgage and a select number of Bad Credit Loan products.

No Ratio Loans - This program is based upon alt A product guidelines, and you can apply the requirements to Jumbo programs as well.

NINA Loans - This is a great program for above average credit clients who are self employed or investors who have existing real estate Investor Loans with rental income adjustments that create significant negative cash flow statements.

No Doc Loans - This is the second easiest loan to do. It applies to both conforming and non conforming products and requires virtually no documentation at all. This includes no form 4506 or 4506T.

Stated Income Stated Assets

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Mortgage Program Notice

We love the Stated Income Stated Assets program for the mortgage customer who is self employed or unable to verify asset origination and/or show income stability, but makes more than enough annual income to meet the minimal requirements as a Home Buyer to purchase a property or refinance an existing home.

The Stated Income Stated Asset loan is most suited for those borrowers with a very strong credit portfolio who are self employed and for investors and those who can show a very strong credit file reflecting traditional trade lines to include credit cards and small installment obligations and can show major lines such as Automotive with history or mortgage history. As a leading mortgage company in Alabama, Mississippi, North Carolina, Missouri and Tennessee, we encourage you to contact our office for more information on this outstanding product. Call today or use our Quick Apply form!

No Income Verification

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Mortgage Program Notice

The "Stated Income Mortgage Loan" program, also known as the No Income Verification, can be either a Fixed Rate Loan or Adjustable Rate Mortgage program designed specifically for those borrowers with a strong credit base and the demonstrated ability to make mortgage & rent payments on a timely basis.

This loan program provides an opportunity for qualified applicants in Brentwood, TN and beyond to utilize unverifiable or typically non qualifying income sources for the purpose of qualifying for a mortgage loan. The ideal candidate for this program is the Self Employed, 1099, or the W-2 employee.

The Stated Income option typically requires a two-year employment history in the same business or profession as stated on the loan application. Self employed borrowers may utilize their CPA for employment verification. The program eliminates any verification of income.

The Stated Income applicant will show a high regard for their financial obligation as reflected in their credit score model. Minimum Credit Score for this product starts at 600. Maximum LTV & CLTV incorporates 100% Financing and can be used with our 80/20 Piggie Back combo loan.

The applicant must state the specific income and sources of income (e.g., employer name, address, phone number, 401K, etc.) A verbal verification of employment is required, but income will not be verified. All assets are required to be verified through standard documentation and should support the income and employment stated on the application. All other sections of the mortgage loan application must be fully completed and supported with standard documentation.

Features:
No income verification requirements, regardless of income source.
Eligible Borrowers:
Purchase, rate/term and Cash Out Refinance options are available on primary residences, second homes, and investment properties.

No Income Verification Documentation

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Copy of Social Security Card
Copy of Drivers License
90 Days Banks Statements, all Accounts, all Pages
Last Quarterly Statement for Investment Accounts/401K
Signed Letter of Credit Explanation (IF DEROGATORY)
Copy of Bankruptcy Papers, all Pages and Discharge
Copy of Business License (Self Employed Only)
Signed Letter from accountant confirming self employment for last two years(Self Employed Only)
Last 12 Months Canceled Checks for Rent or Mortgage (Privately Held rent or prior mortgage)
No Ratio Mortgage Loan

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Mortgage Program Notice

The "No Ratio" program is a fixed or adjustable rate mortgage loan designed specifically for those borrowers with a strong asset base and the demonstrated ability to make mortgage & rent payments on a timely basis. Beyond the traditional fixed rate loan, this loan is available using our 3/1 ARM, 5/1 ARM and 7/1 ARM programs.

The No Ratio option typically requires a two-year employment history in the same business or profession as stated on the loan application. Self employed borrowers may utilize their CPA for employment verification. The program eliminates any reference to income which results in a no debt to income ratio qualification.

The No Ratio applicant will show a high regard for their financial obligations as reflected in their credit score model. Minimum Credit Score for this product starts at 620. Maximum CLTV is 100% using our 80/20 financing.

The applicant must state the specific sources of income (e.g. employer name, address, phone number, 401 (K), etc.) A verbal verification of employment is required, but income will not be verified. All assets are required to be verified through standard documentation. All other sections of the mortgage loan application must be fully completed and supported with standard documentation in Baldwin County, AL and beyond. Don't Wait! Quick Apply!

Features:
No income verification requirements, regardless of income source
No income stated on application
No debt ratio calculations

Eligible Borrowers:

Purchase, Refinance to a Fixed-Rate and cash out refinances available on primary residences, second homes, and investment properties.
No Ratio Mortgage Documentation

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Copy of Social Security Card
Copy of Drivers License
90 Days Banks Statements, all Accounts, all Pages
Last Quarterly Statement for Investment Accounts/401K
Signed Letter of Credit Explanation (IF DEROGATORY)
Copy of Bankruptcy Papers, all Pages and Discharge
Copy of Business License (Self Employed Only)
Signed Letter from Accountant Stating Confirming Self Employment for Two Years
Last 12 Months Canceled Checks for Rent or Mortgage (Privately Held rent or prior mortgage)
No Income No Asset Home Loan

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Mortgage Program Notice

The "NINA" a/k/a/ No Income No Asset home loan program is a fixed or adjustable rate mortgage loan program designed specifically for those borrowers with a strong credit base and a demonstrated ability to make mortgage & rent payments on a timely basis.

The ideal borrowers for this program are clients who are Self Employed, 1099, or W-2 employee; Unable to document all sources of their income necessary for qualifying; Are asset rich (in the form of non liquid assets - e.g. multiple investment properties), but cash poor, thus unable to show sufficient typical cash reserves to close.

The NINA option typically requires a two-year employment history in the same business or profession as stated on the loan application. Self employed borrowers may utilize their CPA for employment verification. The program eliminates any reference to income which results in a no debt to income ratio qualification and no asset disclosure eliminating cash reserve requirements.

The No Income No Asset Loan applicant will show a high regard for their financial obligations as reflected in their credit score model. Minimum Credit Score for this product starts at 620. Maximum CLTV is 100% using our 80/20 financing.

The applicant in Gulfport, MS or any of the other cities we serve must state the specific sources of income (e.g., employer name, address, phone number etc.) A verbal verification of employment is required, but neither income nor assets will be verified. All other sections of the home loan application must be fully completed and supported with standard documentation. Quick Apply today for fast answers!

Features:
No income or asset verification requirements, regardless of income source
No income stated on application
No debt ratio calculations

Eligible Borrowers:

Purchase, rate/term and cash out refinances available on primary residences, second homes, and investment properties.
NINA Mortgage Documentation

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Copy of Social Security Card
Copy of Drivers License
Signed Letter of Credit Explanation (IF DEROGATORY MEDICAL)
Copy of Bankruptcy Papers, all Pages and Discharge
Copy of Business License (Self Employed Only)
Signed Letter From Accountant Verifying Self Employment for Two Years
Last 12 Months Canceled Checks for Rent or Mortgage (Privately Held rent or prior mortgage)
No Documentation Home Loan

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Mortgage Program Notice

The "No Doc" or No Documentation Mortgage program is a fixed or adjustable rate mortgage loan program designed specifically for those borrowers with a strong credit base and the demonstrated ability to make mortgage & rent payments in a timely basis.

The ideal candidate for this program is the Self employed, 1099, or W-2 employee, seeking a true minimal documentation loan. This loan program is ideal for a Refinance Loan no cash out & Cash Out Refinance LTV's of less than 70% by both owner occupied and non-owner occupied properties @ full documentation conventional rates;

For purchase loans of owner occupied properties to 95% LTV with a minimum 620 FICO score and 95% NOO No Doc For Investors Wow! Quick Apply Today! No subordinate financing is allowed.

The program eliminates any reference to income, assets, employment and liabilities. There is no verification of any information outside of the qualifying property and credit. Liabilities on the credit report are not reconciled.

The No Doc applicant will show a high regard for their financial obligation as reflected in their credit score model. The applicant must NOT state the specific sources of; income (e.g., employer name, address, phone number, 401K, etc.), Assets, or liabilities. The applicant must provide details on the property to be financed. If the property is a primary residence, it must NOT be listed as an asset. All other sections of the mortgage loan application must be fully completed and supported with standard documentation.

12 months on time rent or mortgage documentation must be provided for this kind of loan in Nashville, TN or in any other part of our service area.

Features:
No income stated
No Assets stated
No liabilities stated
No form 4506

Eligible Borrowers:

Purchase, rate/term and cash out refinances available on primary residences, second homes, and investment properties.
No Doc Mortgage Documentation Requirements

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Copy of Social Security Card
Copy of Drivers License
Last 12 Months Canceled Checks for Rent or Mortgage (Privately Held rent or prior mortgage)


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