Andres Garcia
Loan Officer
NMLS: 2246130
813-847-4199

Alternative Document Jumbo Loans

Unveiling the Secret to Financing High-Value Properties - The Jumbo Loan with a Twist

Get the jumbo loan you need with simplified document requirements. Ideal for self-employed and high-net-worth individuals.
620

Minimum Credit Score

50%

Maximum Debt To Income

80%

Maximum Loan To Value

$15M

Maximum Loan Amount

Pros of Alternative Document Jumbo Loans

1

Simplified Documentation

Less paperwork and easier qualification compared to traditional jumbo loans.
2

Great for Self-Employed

Ideal for borrowers with non-traditional income sources.
3

Get approved fro what you can actually afford.

Tax returns don't always tell the full story we can use bank statments, 1099's or even a single P & L.

Cons of Alt Doc Jumbo Loans

1

Costs More

Life is a give and take. Less documents is more percieved risk to the lender which means higher interest rates and down payments.
2

Larger Down Payment

80% is a typical max and most investors would prefer to see you at 75%. A "CLTV" of 85% may not be out of the question but it would dwindle our options.

Key Issues That Will Get Early Attention

1
Explore Every Option
I love these unique programs but at the end of the day we're going to want to see you in the lowest cost solution. We have to be 100% sure that proving income in a more traditional way is completely our of the question.
2
Discuss an Exit Strategy
I would want you be be 100% clear on exactly what you would have to do in order to qualify for a traditional loan in the future. In most cases the additional tax responsibility makes the extra cost of an Alt Doc mortgage seem very, very reasonable.
3
Evaluate Down Payment
We'll clarify the larger down payment requirements and explore your options.
4
Discuss Avaialable Documentation
Explore the Flexibility of Alt Doc Loans - Opt for Bank Statements, 1099s, or CPA-Prepared P&L. Experience Slightly Higher Costs for P&L Only Mortgages. Rich in Assets but Low on Income? Consider an Asset Depletion Mortgage. Every Scenario is Tailored to Your Needs

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