FLEXIBLE ALT-DOC LOANS FOR SELF-EMPLOYED AND NON-TRADITIONAL BORROWERS

1. Bank Statements: Demonstrating regular deposits and financial stability.

2. Profit and Loss Statements: Prepared by an accountant to show business income and expenses.

3. Asset Verification: Using assets as proof of income, such as savings, investments, or retirement accounts.

4. CPA Letters: A letter from a certified public accountant verifying income.

5. Employment Verification Letters: From employers or clients confirming income.

KEY FEATURES:

• Flexible Documentation Requirements: Accepts various forms of proof of income beyond standard tax documents.

• Accessible to Non-Traditional Borrowers: Ideal for self-employed individuals, gig workers, freelancers, and those with irregular income.

• Potentially Higher Interest Rates: Due to the increased risk for lenders, alt-doc loans may come with higher interest rates compared to conventional loans.

• Shorter Approval Times: Can often be processed faster than traditional loans because they bypass some of the conventional documentation requirements.

Alt-doc loans provide an important alternative for borrowers who might otherwise struggle to qualify for a mortgage through traditional means, helping them access the financing needed to purchase or refinance a home.

Alternative documentation loans, or "alt-doc" loans, are mortgage loans designed for borrowers who may not have the traditional documentation required by conventional lenders to prove their income.

These loans are particularly useful for self-employed individuals, small business owners, or those with irregular income streams who may not have standard tax returns, W-2s, or pay stubs. Instead of traditional documentation, alt-doc loans may accept:

High Net-Worth Individuals: People with significant assets but irregular or no traditional income streams, who may use their assets as proof of financial stability.

Newly Employed Individuals: Those who have recently started a new job or career and do not yet have a long history of pay stubs or tax returns to show their income.

ARE YOU AN IDEAL CANDIDATE FOR

ALT-DOC LOANS?

Self-Employed Professionals: Small business owners, freelancers, consultants, and gig economy workers who may not have regular pay stubs but have a steady flow of income through their businesses

Real Estate Investors: Individuals with income derived from rental properties or other real estate investments who may not have traditional employment documentation.

Contract Workers: Individuals who work on a contract basis and receive irregular income, such as IT consultants, writers, designers, and other project-based workers.

Artists and Performers: Musicians, actors, writers, and other creative professionals whose income can be sporadic and vary greatly from project to project.

Commission-Based Employees: Salespeople, real estate agents, and other professionals whose income is largely commission-based and may vary significantly from month to month.

Seasonal Workers: Those who work in industries with seasonal fluctuations, such as agriculture, tourism, and construction, who may have substantial income but lack consistent, year-round pay stubs.

These borrowers often face challenges in qualifying for traditional loans due to the nature of their income but can benefit from the flexibility of alt-doc loans, which take a broader view of their financial health.

If you have any questions or concerns about Alt-Doc Loans and their benefits, please don't hesitate to reach out.

We are here to provide you with all the information you need.

Give us a call today for more details and discover how Alt-Doc Loans can help you secure the home financing you need. We're here to assist you every step of the way.