LENDERLINE^® is currently offering alternative documentation mortgages using a profit and loss prepared by a CPA as income under the following guidelines:

• Property must be located in the State of California.
• Self-employed borrowers only.
• Income is stated and supported by a profit and loss prepared by a CPA.
• No tax returns.
• No 4506-T.
• CPA letter required for self-employed verifying business ownership and filing of tax returns.
• Borrowers that file their own tax returns are ineligible.
• Current plus past 2 years’ business or professional license required for self-employed.
• Credit report must show current employer.
• No paycheck stubs.
• Up to 70% loan-to-value (see underwriting guidelines).
• Minimum 680 credit score.
• $100,000 minimum loan amount.
• $2,500,000 maximum loan amount for 1-unit PUD & SFR.
• $1,500,000 maximum loan amount for condominiums and 2-4 units.
• Primary residence, second home or investment properties.
• Purchase, rate and term, or cash-out refinance.
• SFR, PUDs, condos, townhouses, and 2-4 unit properties.
• For sale by owner transactions are not allowed.
• Maximum debt-to-income ratios are 38/43.
• Reserves of either 6 or 12 months PITI required (see underwriting guidelines).
• US citizens and US permanent residents allowed.
• Gift funds allowed on certain transactions (see underwriting guidelines).
• Reserves must come from borrower’s own funds on all transactions.
• Impounding of property taxes and hazard insurance not allowed.
• Available only as a 7/1 ARM, fully amortized, with a term of 30 years.
• No prepayment penalty.

LENDERLINE^® is your alt-doc profit and loss lender of choice. We are mortgage lenders for the self-employed, and are one of the nation’s premiere stated income lenders.

Questions? To get today’s interest rates or to receive a FREE mortgage consultation, call LENDERLINE^® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.