WHAT IS A NON-QUALIFYING MORTGAGE? Simply stated. a Non-qualifying loan is a funding solution for borrowers with unique financial circumstances. Listed below are a few examples SELF-EMPLOYED BANK STATEMENT PROGRAM•Personal or business statements•100% of eligible deposits from personal and business accounts•Borrower’s qualifying income is calculated by 12 months most recent bank statements in place of tax returns. Click to Learn more ASSET DEPLETION •The borrower is qualified based on verified liquid assets;•Assets must be documented sufficiently to cover the loan amount requested with an additional reserve to cover all revolving, installment and miscellaneous debts (e.g. child support, alimony, etc.);•Assets can be cash in the bank, stocks, bonds, IRA’s, 401k’s, mutual funds or any retirement accounts;•12 months of consecutive statements are required for asset verification;•Tax returns are not needed in Underwriting.•100% of vested retirement for borrowers over 59 ½ years old and 50% of vested retirement assets if borrowers are under 59 ½ years oldClick to Learn more COMMERCIAL PROPERTY AND REAL ESTATE INVESTOR•Designed for experienced Real Estate Investor who is purchasing or refinancing investment properties to be held for business purposes;•Borrower is qualified based upon the cash flow of the subject property, specifically the debt coverage ratio •Income verification not required; or verified, tax returns not required.Click to Learn more JUMBO AND SUPER JUMBO•Loan amounts up to 7 Million •Maximum DTI of 50%Click to Learn more FOREIGN NATIONAL PROGRAMS•Minimum Documentation for second, vacation or investment propertyClick to Learn more Non-QM Loan Benefits•Ideal for self-employed and or people with non-traditional financial circumstances•Alternative income verification methods accepted•Foreign Nationals •Multiple fixed and adjustable loan options are available•Loan maximum is as high as $7 million •Primary, Second, Vacation and investment properties are eligible
1st Florida Lending Corp., a registered Mortgage Lender Orlando servicing all of Florida offering over 48 loans programs including Conventional Loans, Non-Conforming Loans, FHA Loans, VA Loans, USDA Loan, Self-Employed Loans, Bank Statement Loans, No-Doc Loans, Reverse Mortgage Loans, ITIN Loans, Rental Investment Loans, to name a few and specializing in Bank Statement Loans or “stated loans” requiring no Tax Return verification and much more. * No broker or lender fees are for FHA,VA, USDA and Conventional loan types Main Office: 2151 Consulate Dr. * Suite 8 * Orlando, FL., 32837 * Telephone (800) 655-1345 * (407) 300-2558 * Fax (877) 401-9955We are approved lenders for all Government Loans and registered with the Florida Office of Financial Regulation - # MLD106When Banks Say No ! We Say YES ! ® is a registered trademark owned by 1st Florida Lending Corp.