Navigating the mortgage landscape can often feel like a daunting task, especially when it comes to gathering the necessary documentation to qualify for a loan. We’re excited to introduce our streamlined qualification process that allows you to qualify using just one year of W2s or tax returns.
Key Features of Our Simplified Qualification Process
1. 1-Year W2s or Tax Returns: For those borrowers who can only document 1 year of W2 or 1 year of tax returns, this is the best program for qualifying for a mortgage just one year of income is used. With our program, you can qualify using just last year’s income. This is particularly beneficial for those who have had a significant increase in income over the past year or have recently changed jobs.
2. YTD Paystub Required if W2: If you’re a W2 employee, all you need in addition to your 1-year W2 is your year-to-date paystub. This helps us verify your current income and ensures a smooth qualification process.
3. YTD Profit & Loss if Self-Employed: For our self-employed clients, we require a year-to-date profit and loss statement. This allows us to get a clear picture of your current financial standing without the need for extensive historical data.
4. Up to 90% LTV: Our program offers loan-to-value ratios of up to 90%, making it easier for you to secure the financing you need with a lower down payment. This is ideal for those looking to maximize their investment potential.
5. 600 Minimum Credit Score: We believe in providing opportunities for a wide range of borrowers. With a minimum credit score requirement of just 600, our program is accessible to more people, helping you achieve your homeownership or investment goals.
6. Loan Amounts Up to $5,000,000: Whether you’re looking to purchase a modest home or a high-value property, our program can accommodate loan amounts up to $5 million. This flexibility ensures that we can meet the needs of a diverse clientele.
Our simplified qualification process is designed to save you time and reduce the stress associated with securing a mortgage. By focusing on the most recent financial data, we can provide a more accurate assessment of your ability to repay the loan, ultimately leading to a smoother and faster approval process.
Contact our office and we’ll connect you with a loan officer who can give more details about our 1-year income mortgage program.