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Alt-Doc

For the Non-Traditional Borrower.

Alt-Doc (Alternative Documentation) is a mortgage program that qualifies homeowners by using non-traditional methods and/or non-traditional documentation to determine qualifying income.

This unique solution has distinct approval parameters for borrowers that have demonstrated the ability to repay (ATR) a loan but cannot qualify for a standard mortgage program. Borrowers looking to take advantage of alternative qualifying methods such as Asset Depletion and/or bank statements.

Prime Program Guide
Advantage & Expanded Program Guide
Express Program Guide
Eligibility Matrix

Program Highlights

Prime | Advantage | Expanded

  • 100% deposits w/ personal bank statements
  • S/E not required when using personal statements
  • 18 months self-employed (Bank Stmt Only)
  • PTIN for P&L only
  • Asset Depletion = divide by 60 months
  • Asset assist option available1
  • Listed for sale – cash-out OK2
  • W-2 only – no YTD paystub required
  • Up to 90% LTV
  • Up to 80% LTV for cash-out
  • 2-4 unit properties and condos up to 85% LTV
  • DTI up to 55%3
  • Up to $3.5 million loan amounts
  • Min FICO 640
  • 2 x 30 x 12 OK, 1 x 60 x 24 OK
  • 2+ years credit event OK
  • 3-months reserves up to $2 million
  • Cash-out can be used as reserves
  • Asset seasoning: 1 month
  • Gift funds / gift of equity OK
  • Interest-only payments available4
  • Short-term rental income permitted
  • AirDNA permitted on purchase
  • Delayed Financing = Rate/Term
  • Crypto allowed if converted to US dollar5
  • Non-warrantable condos permitted

Express

  • 100% deposits w/ personal bank statements
  • S/E not required when using personal statements
  • 12 months self-employed
  • PTIN for P&L only
  • Asset Depletion = divide by 60 months
  • Asset Assist Option = divide by 60 months
  • Listed for sale – cash-out OK2
  • W-2 only – no YTD paystub required
  • Up to 85% LTV
  • Up to 80% LTV for cash-out
  • 2-4 units up to 80% LTV; condos up to 85% LTV
  • DTI up to 50%3
  • Up to $3 million loan amounts at 80% LTV
  • Min FICO 660
  • 0 x 30 x 12
  • 3+ years credit event OK
  • 3-months reserves up to $2 million
  • Cash-out can be used as reserves
  • Asset seasoning: 1 month
  • Gift funds allowed
  • Interest-only payments available
  • Short-term rental income permitted
  • AirDNA permitted on purchase
  • Delayed Financing = Rate/Term
  • Crypto allowed if converted to US dollar5
  • Non-warrantable condos permitted

Flexible Qualification Methods

  • 12-month bank statement
  • P&L only
  • Asset Depletion
  • Written VOE Only
  • 1099 only
  • W-2 only
  • One-year tax return

Express "Exclusives"

  • WVOE only – EWVOE no bank statements required
  • No minimum tradeline required w/ 3 scores
  • 25% default expense factor if 100% owner
  • ADU income allowed
  • DACA permitted
  • Asset Assist – no cap on % of income
  • All income types can be used in conjunction with each other

1 Limited to Bank Statement & W-2 Only – 25% max income.
2 Must be taken off market prior to application.
3 Restrictions apply to DTI over 43%.
4 Restrictions apply. Not allowed for FTHB.
5 For Asset Depletion: crypto must be converted 120 days prior.

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