No Income HELOCs - Bank Statement Averaging - ALTdocLoan.com - 70% LTV

Stated Income Home Equity Line of Credit

1)  (NIVA) Home Equity Line of Credit (HELOC), No Income - Verified Assets

Owner-Occupied, Non-Owner Occupied and Second Homes,

SFR's, 2-4's and Condos.

No Income is listed on the Application. 620+ FICO needed. 

Loan amounts from $150,000 - $1,500,000. 
60% LTV to $1,000,000 loans outstanding (including new HELOC)

50% LTV to $1,500,000.
4.5% interest only start rate for the 10 year draw period, 20 year amortization.

1 floating over WSJ Prime in 1st position or on free and clear properties after the draw period. 

5.5% interest only start rate for the 10 year draw period, 

20 year amortization. 2 floating over WSJ Prime in 2nd position after the draw period. 18% lifetime cap. 3 monthly repayment options are available.

Must provide proof of at least 20 months of liquid PITIA reserves.

Available: The California counties of Alameda, San Francisco, Santa Clara, Sacramento, San Mateo, Orange, LA and San Diego. 

ALSO: New York, Nevada (Clark County), MA, WA and GA.

Fees: 2.5 points + $845 processing in a Holding Escrow.*

Hedge Fund, Stated Income-Stated Asset (SISA) Loan Product for

Residential or Commercial

2) Stated Income, Stated Asset Purchase or Refinance Loan,

Loan Amounts to $2,000,000.
Loans for Non-Owner and Investment properties up to 75% LTV.
Terms: 3 and 8 yr ARMs - fixed then adjustable for remainder

of 30 years. 

Rates from 7.49% and 2 points.

650 minimum FICO score required. 

21 day close of escrow. Interest reserve options.
Investor & REO financing - Any amount of properties allowed 
In Bankruptcy or Foreclosure OK.
Unlimited cash out. No title seasoning required. 

Available: Nationwide.

Fees: 2 points in the transaction.

Alternative Documentation (ALT-Doc) Loans

3) (SIVA) 2 Month Bank Statement Averaging, 1 Year Taxes or

Asset Amortization Loans for Business Owners. 

No Taxes, w2's or executed 4506T are required. 

Minimum FICO score is 720.

Must be Self-Employed for at least the last 2 years. 

Realtors are considered self-employed. 

3, 5, 7 and 10/1 ARM's, 30 year amortization. Rates from 3.75%. 
Owner Occupied and Non-Owner Investment properties, SFR and 1-4’s.
Loan to value up to 70% for a purchase, rate and term or cash-out

refinance to 4M. Interest only payment available. 

Qualifying: Using the Borrower’s last 12 primary Personal bank statements, we average the gross deposits, draws and wire from 

your business and use that as the income to qualify.

OR using the Borrower’s last 12 primary Business bank statements, we

we average the net deposits less the withdrawals and use that as the 

income to qualify, at 45% DTI based on deposits and debts on the credit report. We need proof of 12 months PITIA reserves for the subject property seasoned in the bank for at least 60 days. Non-owner occupied properties,12 months reserves on all debt. 

Available: Nationwide.

Fees: 1.25 points in a Holding Escrow*.

4) No Income-Verified Assets (NIVA)

for Owner-Occupied and Non-Owner Properties
700 Mid Fico, SFR's 1-4 units, Condos and PUDs (must be warrantable)

Terms: 7/1 ARM, 30 year amortization from 4.875%
Purchase: 70% LTV to $2.5M, 25% of down payment can be gifted

Refinance rate and term 65% LTV to 2.5M

Refi with cash out 50% LTV to 2.5M

Reserves as low as 6 months

No max properties owned or financed, no max acreage.

Foreign buyers OK

Less than 30 days to close

Available: CA, TX, WA, IL, NY and NJ.

Fees: 2.5 points + 845 processing in the transaction

Private Money to 90% LTV - Close Escrow in 10 days

5)  Private Money Loans for Non-Owner Occupied properties.

Commercial and Residential Loans for purchase or refinance up to 90% LTV.
Terms: 1, 2, 3 or 4 year loans amortized for 30 years.

Rates from 7% and 2 points.
NO minimum FICO score required.
7 day close of escrow.
Investor loans to 100% of ARV & REO financing. Interest only available. 
Any amount of properties allowed. 

Interest reserve options. Unlimited cash out. 
In Bankruptcy or Foreclosure OK.
No title seasoning required.
Available: Nationwide.

Fees: 2 points in the transaction.

Requirements and Documentation:
Complete the loan application, leaving the income section blank, initial, sign, date and return. Provide copies of Driver's License and Social Security card. Send copies of the Bank Statements, (Last 2 for HELOC or last 12 for bank statements) Mortgage Statement, Insurance declaration page and Purchase Agreement if purchase.

We will provide a Loan Consultancy Agreement and Escrow

Instructions, to be fully executed and returned.

Please scan, label and email all documents.

HELOC: Last 2 months Bank/Asset statements showing at least 20 months of liquid PITIA reserves.

No bankruptcies, mortgage lates, foreclosures, short sales, 

deed-in-lieu or loan mods on credit history in the past 5 years

allowed. Borrower may be required to open a deposit account with the

Bank (FDIC insured) and enroll in auto-pay for the mortgage payment.

12 Months Bank Statements: Last 12 months Bank or Asset statements

showing 6-12 months of mortgage payment reserves. Credit will be pulled

at the Bank and must be derogatory free last 12 Months. No bankruptcies,

short sales, deed-in-lieu or loan mods on credit history in the past 5 years

allowed, foreclosures (7 years).

Lender Fees: Fees vary by institution, all loans have separate non-refundable cost of Appraisal and Credit Report, +/- $550. 

*Holding Escrows:  A Holding Escrow will be established in the borrowers' name with an Independent Licensed Escrow Company

and funded beforehand. Your Holding Escrow account is fully refundable in the event of no close of escrow or cancellation.

The information furnished here is preliminary. This is not an offer nor a

commitment to lend and shall not be construed as such.

Rates, terms, loan products and loan conditions may be changed

without notice, example of rates as of 9/1/16 on a California refinance

loan amount of $417,001 with a 740 FICO and 70% LTV, 30 year 7/1 ARM,

4.75%/4.85% APR. All private money loans offered in accordance and

compliance with CalBRE regulations. Stated loans are provided to,

and conform with applicable state laws regarding commercial lending

transactions for business purposes. All loan transactions are subject to

the submission of a formal application, appraisal, underwriting, and written

lender approval. Loan approval terms may vary by asset type and borrower

credit worthiness. Insurance acceptable to the lender on subject property

is required to be maintained on the subject property for the duration

of the loan. **lesser of 80% of appraisal or 90% of the purchase.