Alternative Income Loan

Our Alternative Income loans are designed for borrower’s who have a hard time income qualifying for standard conventional loans because of the income shown on their tax returns, or lack thereof. These programs are for Wage Earners, Self-Employed Borrowers, and Investors with more than 6 month experience in property investments.
Lien Position:
First Trust Deed
HELOC

Loan Amounts:

• DSCR / Bank Statement / P&L: Up to $4,000,000

• Home Equity (2nd Position / Cash-Out): Up to $750,000

Funding Location:
California

Occupancy:
Owner Occupied
Non-Owner Occupied/Investment
Second Home

Loan Programs Offered:

DSCR (Debt Service Coverage Ratio) Loans

• Buy or refinance rental properties

• First-time homebuyers OK

• No income verification (true no-ratio)

• Income based on higher of Form 1007 or lease agreement

• No tax returns or W-2s required

• Finance up to 85% LTV

• Minimum FICO: 600

• Loan amounts up to $4M

• 5–10 unit properties allowed

• Short-term rentals eligible

• 2nd liens available

Bank Statement Loans

• Qualify with deposits, not tax returns

• 12- or 24-month options (personal or business)

• Finance up to 90% LTV

• Loan amounts up to $4M

• No tax returns or W-2s required

• 1-year self-employed OK

• As low as 600 FICO

• Co-borrower with fixed income allowed

• Personal bank statements = 100% qualified

• Expense factor as low as 10%

Profit & Loss (P&L) Loans

• Qualify with CPA/CTEC/EA-prepared P&L

• Finance up to 85% LTV

• Loan amounts up to $4M

• Better pricing with 2-month bank statement option

• No full bank statement option required

• 2nd liens available

• Minimum FICO often 620

Home Equity Loans (2nd Position / Cash-Out)

• Loan amounts up to $750K

• Finance up to 90% LTV

• All doc types available

• All occupancy types allowed

• Great for 2nd position financing or cash-out needs

Loan to Value:
Up to 90% depending on program, credit, and property type

Interest Rates:
Starting at 4.25%
HELOCs starting at 4.25%

Loan Terms:
3/1; 5/1; 7/1 ARMS (Interest-Only option available)
15 or 30 year fixed rate

Prepayment Penalty:
None to 3 years; varies by loan program

Properties Types Funded:
Single-Family
Multi-family
Mixed-Use
Townhomes
Condos (Non-warrantable – ok)
Rural Properties
Condotels

Credit Requirements:
Minimum FICO 600+ (program dependent)

Appraisal Requirement:
Full Appraisal Required

Origination Fee:
Based on the location of the property, credit worthiness of the borrower, the amount of the loan, and loan term

Closing Costs:
Standard third party costs including, but not limited to, credit report, appraisal, title, escrow fees