W2 Transcript Only Program

Our W2 transcript only program is now for fico score  > 640 (to 580 by exception).  This is for wage earner borrowers and is accepted for FHA, VA, and Conventional Loans. With Unreimbursed employee expense giving borrowers a problem obtaining financing, we have implemented a W2 only program where tax returns are not required thus avoiding to show the unreimbursed employee expense deduction.

W2 only Program Details

• Minimum Credit Score = 640 (580 by exception)
• Employment in the construction industry is NOT allowed
• Loans with additional rental properties are not allowed
• All borrowers must be paid with a W2
• No 1099s
• No commission income borrowers
• No self-employed borrowers
• We offer FHA and VA as low as 580 scores
• Down Payment Assistant programs are permitted
• Manual Underwrites to 580 on both FHA and VA
• Manual Underwrites max debt to income up to 40/50 with 2 FHA Compensating Factors per Mortgagee Letter 14-02
• VA to 100% LTV cash-out
• Approvals turn-times are at 48 hours
• Common Sense Financing

If you need more information about our W2 only program please contact one of our loan consultants and they can give you more information about this program.