ADVANTAGES OF NON-TRADITIONAL LOANS
- Income Documentation Is Not Required: A bank statement loan allows you to use monthly deposits as income instead of having to provide complicated tax returns or W-2s
- Flexible Debt Ratios: Many non-traditional loans are equity-based instead of traditional debt based. As long as you have the equity, then we should be able to get you approved
- Shorter Waiting Periods: Most non-traditional loans don’t have long waiting periods, and many can close in as few as 3-5 business days
SOME OPTIONS FOR NON-TRADITIONAL LOANS:
- Bank Statement Loan
- Portfolio Loan
- Purchasing or Refinancing
- Private Financing
REQUIREMENTS FOR NON-TRADITIONAL LOANS
In order to get approved for a non-traditional loan, you should either be trying to purchase a home in the near future or trying to refinance. If you want to make a home purchase, then your first step is to get preapproved. If you’re looking to refinance, then the requirements may differ from those related to a home purchase.
FHA 100% FINANCING
- Standard FHA 1st with a Silent 2nd
- 620 Minimum FICO
- Income Limits Apply — Contact for Details
- 95% LTV to $1.5M FULL DOC / 90% to $2.5M ALTDOC (Bank Statements)
- NO DOLLAR LIMIT on CASHOUT!
- Up to 80% LTV on IP CASHOUT (Including 2-4 Units!!)
- Will Consider Non-Warrantable Condos!
- At 80% LTV, ENTIRE DP can be a gift!!
- 30Y / 15Y / 5.1 ARM / 30 YW / 10 YIO Available!
- 1YR TAX RETURN Feature as well!!
If you have any questions about Non-Traditional Loans, please contact USAFC Realty.
Your next home is waiting for you!
©2020 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of San Diego MLS data last updated at January 24, 2020 11:32 AM PT The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.