Full Documentation Loan (Most Common)

The borrower provides 1 months pay stubs, 2 months bank statements and 2 years W-2 or Tax Returns (if self employed) to qualify for a loan. This typically results in the borrower getting the best rate and lowest fees. This type of loan is available for the whole spectrum of credit ratings (rate and fees will change based on your score).

Stated Income/Verified Assets Loan (SIVA)

A Stated Income/Stated Asset loan is a loan where a  borrower who is self employed for a minimum 2 years, states their annual income, and documents their Assets. As long as the stated income is consistent with the type of job and the assets the borrower has, they will qualify. Typically we require a 680 or better credit score.

Stated Income/Verified Assets Loan (SISA)

A Stated Income/Stated Asset loan is a loan where a  borrower who is self employed for a minimum 2 years, states their annual income and states, but does not document their assets. As long as the stated income is consistent with the type of job and the assets the borrower has, they will qualify. Typically we require a 680 or better credit score.

No Documentation Loan

A loan totally based on borrowers credit rating and the value of the property being financed. With this type of loan you don't state, nor do you have to prove, your income or assets. It typically requires a credit score over 680 (good to excellent credit).

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