Non-QM Programs
Alternative mortgage programs designed for borrowers who do not meet traditional QM (Qualified Mortgage) underwriting standards, utilizing alternative documentation like bank statements or P&L statements.
Standard Doc Loans
Standard Doc program, also knows as a Full Doc loan, follows conventional income verification guidelines. Borrowers demonstrate their ability to repay by providing standard documentation such as W-2 forms, pay stubs, and 1-2 years of tax returns. This program is often ideal for borrowers with a stable employment history and verifiable income who seek competitive rates and straight forward underwriting.
Key Features:
- No tradeline requirement w/ 3 credit scores
- Non-perm up to 90% LTV
- DTI up to 55%
- Unlimited cash-in-hand
- Cash-out used for reserves
- SFR, condotels, condos, studios, 2-4
- Loan amounts up to $4m
- Loan amounts up to $5m for preferred brokers
Bank Statements
A bank statement loan is designed for self-employed individuals with strong cash flow but limited traditional W-2 documentation. Instead of relying only on taxable income, lenders review eligible personal or business bank statements to evaluate cash flow and determine qualifying income.
Key Features:
- No tradeline requirement w/ 3 credit scores
- 50% standard expense
- Min 10% expense with accountant letter
- Non-perm up to 90% LTV
- Unlimited cash-in-hand
- SFR, condotels, condos, studios, 2-4
- Loan amounts up to $4m
- Loan amounts up to $5m for preferred brokers
P&L Only
P&L Only (Profit & Loss) mortgage loans are often the cleanest solution when a self-employed borrower’s income can be documented more clearly through a professionally prepared Profit & Loss statement. This type of self-employed mortgage solution can be especially valuable when bank statements or tax returns are not the strongest qualification tool.
Key Features:
- No tradeline requirement w/ 3 credit scores
- No bank statements
- Non-perm up to 80% LTV
- Unlimited cash-in-hand
- Cash-out used for reserves
- SFR, condotels, condos, studios, 2-4
- Loan amounts up to $3m
- CPA, EA, CTEC, PTIN
WVOE Only
The WVOE Only Program is for borrowers with stable, full-time employment who do not want to provide traditional pay stubs and W-2s. Instead, a lender-verified WVOE (Written Verification of Employment) completed by the employer is used to verify income. This can especially be beneficial for borrowers with recent job changes or those who prefer minimal documentation.
Key Features:
- No tradeline requirement w/ 3 credit scores
- No tax return, W2, or paystubs
- Non-perm up to 80% LTV
- Unlimited cash-in-hand
- Cash-out used for reserves
- SFR, condotels, condos, 2-4
- Loan amounts up to $3m
- 2 months bank statements required
1099 Only
The 1099 Only Program is built for gig workers, freelancers, and independent contractors who earn income reported on a 1099 form. Instead of traditional tax returns, lenders review one or two years of 1099 forms – plus possibly a year-to-date statement – to assess qualifying income. This helps expedite the process for borrowers who don’t have W-2 income.
Key Features:
- No tradeline requirement w/ 3 credit scores
- 12/24 month average minus expense ratio
- Non-perm up to 80% LTV
- Unlimited cash-in-hand
- 3 months cash-out seasoning allowed
- Cash-out used for reserves
- Loan amounts up to $4m
- Loan amounts up to $5m for preferred brokers
Asset Utilization
The Asset Utilization Program is intended for high net-worth borrowers who may not have a steady W-2 or 1099 income stream but hold substantial liquid assets. The lender calculates a notional “income” by dividing eligible assets over a certain number of months, allowing the borrower to qualify based on assets rather than traditional earnings.
Key Features:
- No tradeline requirement w/ 3 credit scores
- Non-perm up to 80% LTV
- Unlimited cash-in-hand
- SFR, condotels, condos, studios, 2-4
- Loan amounts up to $3.5m
- Loan amounts up to $5m for preferred brokers
- 100% of checking, savings, money market
- 70% of stocks, bonds, mutual funds
Closed-End Second Loans
Closed End Second Loans enable you to tap into your home’s equity with a second-lien mortgage. These loans often feature fixed terms and rates, giving you predictable payments over the life of the loan. This program caters to borrowers who need funds for renovations, debt consolidation, or other financial goals – all while keeping their existing first mortgage intact. With a minimum FICO of 660 and up to 90% combined loan-to-value (CLTV), this product offers a competitive way to leverage your home’s equity. Cash-out can even be used to satisfy reserve requirements.
Key Features:
- Cash-out used for reserves
- Loan amounts up to $500k
- Loan amounts up to $750k case by case
- Combined loan amount up to $5m
- Standard doc, bank statements, P&L, WVOE, & 1099 income types
- Primary, second homes, and investment
- AVM only for loan amounts <$400k
- Non-permanent residents allowed
DSCR (Debt Service Coverage Ratio) Loans
Investor-focused mortgages that qualify properties based on their rental income rather than personal income tax returns.
DSCR loans streamline the qualification process for real estate investors by evaluating the cash flow generated by the subject property relative to its debt obligations (Principal, Interest, Taxes, and Insurance). By eliminating the need for W-2s or complex tax return verifications, this program empowers investors to scale their rental portfolios efficiently using the property’s financial performance.
Streamlined Qualification: By evaluating the cash flow generated by the subject property relative to its debt obligations, these loans eliminate the need for W-2s or complex tax return verifications.
Portfolio Scalability: This financing structure empowers real estate investors to efficiently scale and expand their rental portfolios using the property’s financial performance.
Cross Collateral Loans
A cross-collateral loan is a financing structure that allows a borrower to use multiple properties as collateral for a single loan, leveraging the combined equity across their real estate portfolio to secure funding or purchase additional assets.
Key Features:
Combined Equity Utilization: This loan type bundles the equity from two or more properties to secure larger loan amounts or better terms than what a single asset could provide.
Streamlined Borrowing: It allows investors to finance the acquisition of a new property without needing a separate down payment by tapping into the surplus equity of existing holdings.
Portfolio Expansion: Cross-collateralization provides an effective strategy for real estate investors and business owners looking to scale their operations quickly using their established assets.
Shared Risk: Because multiple properties are tied to the same mortgage, defaulting on the loan puts all pledged assets at risk rather than just a single property.
Foreign National Loans
A foreign national loan is a specialized mortgage designed for non-U.S. citizens living abroad or temporarily in the United States, allowing international investors to purchase residential or commercial real estate without requiring a U.S. credit history or traditional domestic tax returns.
Alternative Documentation: These loans bypass traditional W-2 and domestic credit requirements, relying instead on foreign credit reports, international bank statements, or proof of assets.
Investment Opportunities: They provide international buyers and investors direct access to acquire income-producing or residential properties within the U.S. real estate market.
Streamlined Underwriting: Programs are structured to accommodate the unique financial profiles of non-residents, often focusing primarily on property cash flow, down payment size, and liquid asset verification.
HELOC Loans
A HELOC (Home Equity Line of Credit) is a revolving line of credit secured by a borrower’s primary residence or investment property, allowing them to draw funds flexibly against their accumulated home equity as needed.
Key Features:
Revolving Credit Structure: Unlike a lump-sum cash-out refinance, a HELOC functions much like a credit card, allowing borrowers to draw, repay, and redraw funds during the designated draw period.
Flexible Borrowing: Borrowers only pay interest on the exact amount of funds they actively draw, making it an adaptable tool for ongoing projects, investments, or unexpected expenses.
Cost-Effective Capital: Because the credit line is backed by real estate collateral, HELOCs typically offer significantly lower interest rates compared to unsecured personal loans or credit cards.