If you want a full doc loan I will provide one but what if I said there is a No Doc Loan Offering Bank Rates!

NO Doc Bank Rate Loan

5Y: 5.25% 7Y: 5.50%5/1 or 7/1 ARM

(60-75LTV) 600k or more.

Ideal for self-employed, seasonal income: Consultant, promoter, tax-preparer, freelancer, artist or other professional with an irregular income stream.

Instead of requiring years of tax documents, W-2s, or proof of regular payroll checks, we base our lending decision on a combination of your bank statements and a Profit & Loss statement for your business. Even if you earn your income in just part of the year, as long as you maintain bank accounts documenting your income stream.

Minimum credit score 600, (2) Reduce LTV by 5% for rental properties

LTV Ratio and Loan Amount:

SFR, Condo, PUD, 2-4 Family Purchase & R/T Refinance Max Amount

75-50 LTV $600,000 or more

Cash Out Refinance

70 -45 LTV $600,000 or more

Max Cash Out

$500,000 to 1.5m

Residential

5/1 or 7/1 ARM (DTI 60% / LTV 75%)

• 12 Month Business Bank Statement Loan
• Written VOE
• Asset Depletion (Cash, Stocks, IRA)
• CPA prepared Profit & Loss Statement

Asset Depletion Program:

FMV based on Zillow x 80%, divide by 60 months to receive the monthly income amount.

Ex. Zillow value of $1,000,000 X 80% = $800,000 / 60 = $13,333 per month income. (Deduct Taxes, Home Owners Insurance)

Business Bank Statements: 30% of Deposits

Add all deposits for all 12 months, divide by 12 respectively to receive the monthly income amount we will allow for the borrower.

Ex. 12-month deposit total = $500,000 X 0.3 = 150,000 / 12 = $12,500 per month income. Only 30% is used because we have to assume the business has overhead

Normally No doc loans range from 7.5 to 8.5% 3 Year or 5 year ARM 30 Amortization.

The above program is for people who are border line Bank worthy but would prefer to not provide tax returns. Also no doc loans normally close quicker than Bank Loans.

If you are strong financially please review the loan programs below on other pages.

Above is a past purchase we funded.

Full Document Bank Loan

We offer adjustable rate mortgages at competitive rates and terms. For more information please call  201-925-3470 , to speak to one of our loan representatives.

Bank Rates:

Fixed Rate Mortgage Loans

*Annual Percentage Rate

** The payment amount does not include taxes and insurance.  Your monthly payment obligation will be greater.

All interest rates are subject to change without notice.

Adjustable Rate Mortgages

We offer adjustable rate mortgages at competitive rates and terms. For more information please call  201-925-3470 , to speak to one of our loan representatives.

*Annual Percentage Rate

** The payment amount does not include taxes and insurance.  Your monthly payment obligation will be greater.

This is an adjustable rate loan product. The interest rate may change after consummation.

All interest rates are subject to change without notice.

First Mortgage Loans

We offer Fixed and Adjustable Rate first mortgage loans at competitive rates.

• Loans up to $729,000 have a maximum loan to value ratio of 80%.
• Loans from $729,001 to $828,999  have a maximum loan to value ratio of 75%.
• Loans over $829,000 have a maximum loan to value of 70%.
• Maximum Loan: $1,500,000

A minimum down payment of 20% is required for all mortgage loans. Private Mortgage Insurance is not available at this time. Please call for further details.

Application Fees:
Single Family, owner-occupied: $500
2-4 Family, owner-occupied: $650

Full Document Bank Loan

We are adding many great new programs please bear with the construction.

Yes in addition to offering no doc and lite doc loan we also offer a large range of full documentation bank loan programs here in Northern NJ and all over the country.

*Mixed-Use with more than 3 commercial units will be considered at higher rates