  NO more W-2’s & Paystubs for Salaried Borrowers Easy Documentation, Low Documentation Loans, Low Doc, No Doc Call it what you want It is not a program it is a full doc loan with a VOE replacing income documents Competitive Rates Salaried borrowers only 660 FICO Cash-Out Refinance: 70% LTV/CLTV R/T & Purchase: 80% LTV/CLTV Available Programs FNMA Conforming High Balance Conforming DU Refi Plus Following Incomes are NOT qualified for VOE (VOE Doc Type = Base Salary Only) (If borrower use following Income as qualifying income, 2 years Tax Return will be required) - Investment income related (interest/dividend, capital gain, rental property, trust income, royalty income, etc) - Other income related (alimony, automobile allowance, retirement/pension, social security, etc.) - All sales position - Considers contract borrowers (borrowers who are paid on a contractual basis as independent "contractors") as self-employed borrowers. - Rental Income - Bonus Income - Overtime Income - Commission-Paid Borrowers - Gratuities and tips (waiter & waitress etc.) - Part-time or Second-job Income - The salary increase will begin prior to or within 30 days of the first payment date of the mortgage. - Partial Year Paid Borrowers - Certain borrowers (such as teachers or forest fire fighters) may be paid for only part of the year. - Seasonal Income - Military Income - Union Member Borrowers Income is reasonable compared with submitted assets and credit profiles. Additional documentations such as W-2, Paystub or Tax Return can always be requested upon verification. |
 | |
|
|