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Self Employed – ONE YEAR TAX RETURNS – Jumbo Loans to $3.5mm

Self Employed – ONE YEAR TAX RETURNS – Jumbo Loans to $3.5 million.

A common request as of late has been Self Employed Borrowers only wishing to provide their most recent tax returns covering a one year period, so yes, WE CAN OFFER THIS AMAZING NICHE to our clientele.

The Self-employed Program which goes as high as $3.5 million in guideline, allows for a Self Employed Borrower to partake of this aspect with the following needs

1. The borrower has been Self Employed for at least 2 years;
2. The borrower provides their most recent tax filings for their Personal & Business Tax Returns with all schedules;
3. An unaudited Profit & Loss is provided from the tax year end to current date.
4. An unaudited Balance Sheet is provided from the tax year end to current date.

Once it’s determined by comparison review that the income is stable, positive and trending; borrower can proceed as a Full Doc loan under the Self-Employed Program

• 85% to $1.5mm loan amounts.
• 80% to $3.0mm loan amounts.
• 65% to $3.5mm loan amounts.
• Unlimited Cashout.
• Gifts allowed.
• Can close in the name of an LLC.
• Interest Only.
• Can be an ARM or Fixed rate mortgage.
• Cashout Proceeds can be used to satisfy the Reserve Requirement

Should you have any questions or comments, please feel free to reach out to us

No Income Check Loans

Many of our clients would like to unlock the equity in their home or buy an investment property.

No income verification loans are for owner-occupied and investment properties.

They are for 1 – 4 family homes as well as condominiums.
They are for refinances and for purchases.
There is NO prepayment penalty of any kind.
The rate is exactly the same regardless of credit score, type or use of the property.

65% Loan to Value may be borrowed on any property up to 1 million dollars with 700 credit score.
60% may be borrowed with credit score of 660 – 699
55% may be borrowed with credit score as low as 600.

There are many unique financing issues that have prevented our clients from borrowing loans.

Income verification is just one of many issues preventing loans from being approved.
This loan program does not require the verification or sourcing of income.

Eligible borrowers: US citizens; green card holders; A-5 & A-10 Employment Authorization Document holders;
Eligible Visa are: E-2; H-1B; L-1; L-2; R-1

We also want to make you aware of the availability of stated income loans for commercial properties, mixed-use & multifamily properties.

This program allows for both owner-occupied and investment purposes.

Contact us for more information about our no income check loans.

Fundamentally Changing The Face of Hard Money

Fundamentally Changing The Face of Hard Money

Since the deregulation in 1980 “Hard Money” loans have been a accepted alternative to bank financing. With or competitors current rates from 9% to 14%, points ranging from 2% to 5% and most loans being short term bridge loans, it is obviously the last resort on any borrowers mind.

Over the years MortgageDepot has tried to close the gap from what hard money currently looks like to what we think hard money should look like. Well we are proud to announce that with the new expanded guidelines on our business purpose subprime product we have achieved our goal of fundamentally changing the hard money landscape forever! we are very excited to offer to residential and commercial property owners financing that is long term (no more pesky balloon payments), rates from 6.875 to 9.99 all at NO POINTS!

Gone are the days of waiting for private investors to potentially lend you money. Here are the days of truly institutionalized and usable hard money product. We highly encourage to reach out to one of our friendly mortgage loan originators here at MortgageDepot. Let our team of professionals educate you on how we can bring a cheaper long term financing alternative to our borrowers that either can’t qualify or don’t want to wait around to qualify for bank financing for their investment properties. CALL TODAY 800-535-0270. Some bullet points on our new product is below.

  • All loans are “NIS/NIV” NO INCOME STATED/ NO INCOME VERIFIED!
  • UP TO 80% LTV
  • Purchase and cash out transactions available.
  • 100% gift funds acceptable!
  • FAST CLOSING are an everyday occurrence. Typical closing times less than 2 weeks with ability to close in 4-5 days!
  • SFR, Condos, Townhomes and 2-4 units.
  • 5+units (multifamily), Mixed use, Office and Retail.
  • 3/27, 5/25 and 7/23 products available.
  • NO balloon payments ever! 30 year fully amortized loans!
  • Easy to understand and simple underwriting guidelines!
  • Rates from 5.99% to 9.99%
  • No points!!!!!
  • Buy down options available.

Contact us today at (800) 535-0270 or email us by clicking here.

Introducing the Non-QM Investor Program

Introducing the Non-QM Investor Program

If you own an investment property or you are looking to purchase an investment property and you also cannot verify or show your income, we are introducing a mortgage program that fits perfectly. Its NON-QM loan meaning, not a qualified mortgage which is subject to different pricing and different guidelines. This particular program is only intended for investment properties, NO primary residences are allowed under this No income No asset program. Below is a quick snapshot of what this program is capable of.

  • 640 Min FICO
  • NO INCOME / NO ASSET (Credit and Collateral Loan only)
  • N/O/O (Non-Owner Occupied) Properties only
  • $2,000,000 max loan amounts
  • 75% max LTV
  • No Reserves Required
  • No Prepayment Penalty
  • SFR ( single family residence), Condos, and 2 – 4 units Allowed
  • 2 – 4 Units (5% LTV reduction)
  • 2 – 4 Units max 70% Cash Out
  • CLOSE IN LLC, Partnership or Corporation Name
  • No DSCR – No Debt Service Coverage Ratio
  • 1x30 Mtg lates in last 12 months on Primary
  • 1x60 Mtg lates in the last 12 months on other Properties
  • 6 months Seller Seasoning required
  • Interest Only Option Available!
  • Purchase 75% max LTV
  • R/T ( rate and term) REFI 75% max LTV
  • C/O ( cash-out )70% max LTV
    • Cash Back up to $250,000 70% max LTV
    • Cash Back $250k – $500k 65% max LTV
  • 2 Yrs BK Seasoning
  • 2 Yrs FC Seasoning
  • 2 Yrs Shortsale / DIL Seasoning
  • 3 Tradelines for 12 months + or 2 Tradelines for 24 months +
  • 1 Appraisal up to $1,000,000 loan amount
  • 2 Appraisals $1,000,000 – $2,000,0000 loan amount
  • 3/1 Arm and 7/1 Arm only
  • 7/1 Arm Interest Only Option Available

To learn more about his program please contact our office.

Contact us today for a FREE consultation at (800) 535-0270 or email us here.

*This product is not regulated by the New York State Department of Financial Services

Stated Income Loans

Stated Income Loans

As a mortgage broker that knows stated income loans we specialize in the self-employed borrower who is looking for financing. Below you will see guidelines for our stated income loans.

Our Programs:

  • Up to 75% LTV
  • Credit: 650+
  • 30 yr Amortization
  • No income verification
  • No Tax Returns
  • No Pay Stubs
  • No seasoning
  • No verification of Funds
  • Unlimited Cash Out
  • From $100k to $5 Million

Our primary focus is in the quality of loan structuring to avoid the uphill battle of endless documentation needed to satisfy traditional and extra conservative conforming underwriting.

Our specialty:

  • Investment SFR 1-4 Units Multi-Family, (Primary allowed only in NY state)
  • Commercial Mixed Use or Office
  • Retail Warehouse
  • Self-Storage
  • Auto Service

Contact us today for a FREE consultation at (800) 535-0270 or email us here.

*This product is not regulated by the New York State Department of Financial Services

Is Hard Money Dead?

Is Hard Money Dead?

Gone are the days of waiting for private investors to potentially lend you money. Here are the days of truly institutionalized and easy to use hard money product. We highly encourage all to reach out to one of our friendly mortgage consultants here at MortgageDepot. Let or team of professionals educate you on how we can bring a cheaper long term or short term financing alternatives to you that either can’t qualify or don’t want to wait around to qualify for bank financing for your investment properties. CALL TODAY 800-535-0270. Some bullet points on our new product are below.

  • RATES AS LOW AS 6.75%!!!!
  • All loans are “NIS/NIV” NO INCOME STATED/ NO INCOME VERIFIED!
  • UP TO 80% LTV!!!
  • NOW LENDING IN THE FOLLOWING STATES:  AL, AZ, CA, CO, CT, FL, GA, HI, ID, IL, KS, KY, LA, MA, MD ,ME, MO, MS, MT, NC, NH, NE, NJ, NM, NY, OK, OR, SC, TN, TX, UT, VA, WA, WI, WV, WY
  • Purchase and cash out transactions available.
  • NO SOURCING OR SEASONING OF THE DOWN PAYMENT WHATSO EVER!!
  • FAST CLOSING are an everyday occurrence. Typical closing times less than 2 weeks with ability to close in 4-5 days!
  • SFR, Condos, Townhomes and 2-4 units.
  • 5+units(multifamily), Mixed use, Office and Retail.
  • 3/27, 5/25 and 7/23 long term products available.
  • 6, 12, 24, 36 and 60 month short term bridge products available.
  • Easy to understand and simple underwriting guidelines!

We look forward to speaking with you!

Contact us today for a FREE consultation at (800) 535-0270 or email us here.

*This product is not regulated by the New York State Department of Financial Services