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.

Minimum Credit Score


Maximum Debt To Income


Maximum Loan To Value


Maximum Loan Amount

For those with unconventional income documentation or unique financial profiles, securing a jumbo loan can present challenges. This is where the alternative documentation jumbo loans from Lightning Loans by Innovative Mortgage shine, offering flexibility and understanding that traditional lending does not always provide.

Alternative Documentation Jumbo Loans:

Diverse Income Verification Options:

  • Bank Statement Loans: By reviewing your monthly deposits, we can ascertain your income through the cash flow into your accounts, making it ideal for self-employed individuals or those with variable income streams.
  • 1099 Loans: Tailored for independent contractors or freelancers, this option uses your annual 1099 forms as proof of income, sidestepping the need for traditional W-2s or tax returns.
  • Asset Depletion Loans: Your liquid assets can be used to demonstrate your ability to cover loan payments. By calculating the number of monthly payments you have in reserve, we can use this asset-based approach for income verification. For example, if you have the equivalent of 24 times the monthly payment amount in liquid assets, this could serve as your income evidence.

Understanding the Costs:

It’s important to acknowledge that these loan options do carry a higher risk to lenders, which is typically reflected in higher costs compared to traditional loans. However, the value they provide in enabling homeownership or the purchase of high-value properties can outweigh the additional expense. It’s about providing an avenue to secure financing when conventional methods aren’t an option – ensuring that you don’t have to miss out on the property you desire.

Why Choose Lightning Loans by Innovative Mortgage for Your Jumbo Loan Needs:

We recognize that financial situations can be complex, and a one-size-fits-all approach does not work for everyone. Our alternative documentation jumbo loans are designed to cater to borrowers who find themselves outside the ‘conventional box.’

At Lightning Loans by Innovative Mortgage, we’re committed to finding solutions that help our clients achieve their real estate goals, even when traditional pathways are not available. Our expertise and wide network allow us to offer innovative loan products that take into account the full picture of your financial health.

Embark on Your Path to Homeownership:

If you’re exploring jumbo loans but are concerned about fitting into conventional lending criteria, Lightning Loans by Innovative Mortgage is here to help. We invite you to reach out and discuss your specific financial situation with us.

Let’s work together to find a jumbo loan solution that makes your dream home a reality, regardless of the complexity of your income documentation. Contact us for a deep dive into your financing options.

Pros of Alternative Document Jumbo Loans


Simplified Documentation

Less paperwork and easier qualification compared to traditional jumbo loans.

Great for Self-Employed

Ideal for borrowers with non-traditional income sources.

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


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.

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

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.
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.
Evaluate Down Payment
We'll clarify the larger down payment requirements and explore your options.
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