Innovative Mortgage Services
Innovative Mortgage Services

Alternative Income Loans

Income Per Bank Statements

 

Self-employed borrowers whose true income is documented by their bank statements can take advantage of this exceptional program.  This program is for borrowers who have operated the same business continually for 3 or more years, and can prove their ability to repay by utilizing their last 24 months of personal and/or business bank statements. 

 

  • Maximum Loan to Value: 
    • 80% to $750,000
    • 75% to $1,000,000
    • 70% to $1,650,000
    • 65% to $2,000,000
  • Credit Scores:  Middle credit score = or > 700
  • Proof of Self Employment:  Via business license or registration through Florida Sun Biz
  • Occupancy:  Owner occupied or second residence only

 

Asset Depletion

 

Designed for borrowers with substantial liquid capital. The Asset Utilization program permits borrowers to qualify for repayment of the loan based on their assets rather than the traditional earned income approach that requires employment verification.  This special program requires net liquid assets in an amount equal to or greater than 175% of the principal loan amount being requested.

 

  • Maximum Loan to Value:  75% to $1,000.000
  • Credit Scores:  Middle credit score = or > 700
  • Loan Limits:  65% Up to $2,000,000
  • Occupancy:  Owner occupied or second residence only

 

Services Provided by: Giles Wardian of Team Innovative (407) 963-1151

Licensed Mortgage Specialist NMLS #349296

Innovative Mortgage Services, Inc. NMLS #250769

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