Helping self-employed borrowers and property investors to qualify for a mortgage using untraditional methods.
MortgageDepot offers a wide variety of Non-QM mortgage solutions for some homebuyers who don’t fall into the standard mortgage lending box for a number of reasons and need to have more flexibility within underwriting guidelines.
- P&L Only (LTV 70, FICO 680, 2 Year and YTD P&L provided by enrolled Tax Agent/Tax Preparer, or Licensed CPA. No Bank statements required)
- Written VOE (No paystubs, No W2, No tax returns, No 4506-T)
- DSCR/No Ratio (No DTI Ratio, No W2, Tax returns or paystub, Primary residence ownership is required, Min FICO 620, No reserves required )
- Asset Utilization (Cash at 100%, Securities at 90%, Retirement at 70%, 75% LTV, FICO 660, Income is = All Eligible Assets Divided by 100)
- 12/24 Months Bank Statement (LTV 90%, FICO 560, 50% DTI, 100% Deposits Accepted, 50% expense ratio, P&L or expense letter from CPA/Tax preparer)
- 2 Months Bank Statement (LTV 85%, FICO 680, 2 Year & YTD P&L provided by enrolled Tax Agent/Tax Preparer, or Licensed CPA)
- Non-Permanent Resident Alien (Personal or business bank stmts., DSCR Investment Credit Grade, FICO 620)
- Foreign National (75%LTV, up to $ 5,000,000, Income Letters to verify income, One credit or bank reference letter, 43% DTI, 12 months reserve, DSCR allowed)
- No state license required for N/O/O (exclusions apply)
If you are self-employed and have concerns about getting financing, please contact one of our loan officers and they would be more than happy to discuss your situation.