LENDERLINE^® is currently offering alternative documentation mortgages using 1 year tax return or W2 as income under the following guidelines:

• The property must be located in the State of California.
• Most recent 1 year’s tax return or W2 used as income.
• Self-employed or wage earners allowed.
• Up to 80% loan-to-value with 650 minimum credit score.
• Up to 43% debt-to-income ratio.
• SFR, PUD, condo, townhouse and 2-4 units allowed.
• First time home buyers allowed.
• $150,000 minimum loan amount.
• $3,000,000 maximum loan amount.
• Owner-occupied properties only.
• Purchase, rate and term, or cash out refinance.
• As low as 6 months PITI reserves (see underwriting guidelines).
• 2 months seasoning for down payment/reserves.
• Gift funds allowed for down payment and closing costs.
• Reserves must come from borrowers own funds.
• Available as a 5/1 ARM, 7/1 ARM or 30-year fixed.
• Interest-only option available (see underwriting guidelines and pricing adjustment).
• Impounding of property taxes and hazard insurance required.
• No prepayment penalty.