Hot Loan Product #3

Hot Loan Product Construction Loan

This page is for California loans. For loans outside CA in the other 49 states click here 

Bank Statements Only 500+ fico required. From 6.25% note rate for 30 loan program. Up to 85% LTV for 1-4 units owner occupied and investment properties too.  Cash out available. No 4506T. No tax returns. No W2s. No 1099s.
A) For self employed persons only. Use Biz or Personal Bank Statements (24 months all pages) use 100% of the deposits for personal account or 70% of deposits for business account. Self Employed borrowers only.


B) 2 year tax returns for wage earner / W2 borrowers that 

This is a huge difference compared to other lenders. The appeal to customers of the loan offered directly in branches is the often long-standing relationship that a customer may have with the institution, the appearance of trustworthiness this type of institution has, and the perception that holding a larger portfolio of products with a single organization may lead to better terms.

Click here for the FLYER/RATES stated below in .pdf

Click on the rate sheet below to enlarge –  NOW 90% LTV for credit grade A. 

2017 Bank statement only loan program

Call Us Now On 310-737-8420 To Get Started.
Click Here For Borrower Worksheet / Log of 24 months bank statements

List of Forms & Documents Required:

    1. 24 months complete bank/financial statements Click Here For Borrower Worksheet / Log of 24 months bank statements
    2. For the 24 months of statements mark each deposit on each page that is income and complete Bank Statement Income Questionnaire
    3. Choose Personal or Business bank statements;
      1. If Personal Statements are used NO P&L
      2. If Business Statements are used need 3rd party P&L for 2015, 2016 and YTD 2017. This can be a reputable book-keeper, enrolled agent or CPA
        1. Income calculated based on 3rd party P & L is net income. Gross is the bank statements total less expenses will be the net income that put on the 1003. 
    4. Photocopy of valid ID
    5. Purchase Transactions – fully executed purchase contract
    6. Refinance Transactions – mortgage statement
    7. If property is leased, provide lease agreements
    8. Insurance declaration page/quote for coverage
    9. Business license – ie: state – federal – city business license for 2 years – if self employed or letter from reputable book-keeper, enrolled agent or CPA stating they are licensed. 
    10. 1003 Loan Application – use printed 1003 leave liabilities blank. 
    11. Credit report we will pull or if broker submitted need full 3 bureau – but we still have to pull it
    12. Borrower authorization Borrower’s Authorization
    13. Borrower authorization to run and pay for credit  Credit $ Authorization Form
    14. Borrower authorization To Wire Funds Authorization to Wire Funds
    15. SI form – Statement of Information SI Form – Statement of Information
    16. How do you want to hold title Vesting Form For Borrower
    17. Social Media disclosure Social Media Disclosure
    18. **To expedite your file organize documents in adobe format “.pdf”.
  1. **To expedite your file organize bank statements separated by month in adobe format “.pdf”.
  2. *** Do you want more choices of stated income loans and no doc loans check out our other website at ** ****

Abbriviated List Of The Most Popular Loans We Offer :

If you like fast, honest answers call us or fill out the loan request form .

DRE 01105429 (NMLS# 469849) | Phone: 310-737-8420 | Fax: 310-496-6196

Equity Development | 22287 Mulholland Highway Suite 198, Calabasas CA 91302

Comments are closed.