12/24 Months Bank Statements
A&D Mortgage understands that borrowers should not be denied the opportunity of homeownership because they don’t meet the stringent requirements that traditional lenders require.
Our A&D 12/24 Month Bank Statement loans are perfect Non-QM options for self-employed and high net worth individuals who are unable to document their income with tax returns. To qualify for this loan, we allow the use of 12 and 24 months of Business and Personal bank statements.
Program highlights:
- FICO 660
- Up to 85% CLTV
- Loan amounts up to $3 million
- Max cash-in-hand $1 million, no limit for CLTV < 55%
- 30 & 40 Year Fixed, 5/6 & 7/6 ARM
- 3 months reserves
- Gift Funds for reserves allowed
- 12 months from bankruptcy or foreclosure
- Mortgage history 0 x 60 x 12
- Combination of business and personal bank statements allowed
- Condo and condotels allowed
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Other Programs
Asset Utilization
• FICO 660
• Up to 80% CLTV
• Cash-out up to 75% CLTV
• Savings and checking 100%
• Securities at 100%
• Retirement at 70%
• Income calculation - all eligible assets divided by 60
• Super Prime & Prime programs
Full Doc Non-QM
• FICO 660
• Up to 85% CLTV
• Loan amounts up to $3 million
• Max cash-in-hand $1 million, no limit for CLTV < 55%
• DTI up to 55%
• 30 & 40 Year Fixed, 5/6 & 7/6 ARM
• Traditional income
• 2-year credit event allowed
• Super Prime & Prime programs
• Condos up to 85% CLTV
• Condotels up to 70% CLTV
• NY up to 85% CLTV
DSCR
• FICO 660
• Up to 80% CLTV if DSCR > 1.00
• Up to 75% CLTV if DSCR is .075-1.00
• Up to 70% CLTV if DSCR <0.75
• Loan amounts up to $2.5 million
• Max cash-in-hand $1 million, no limit for CLTV <55%
• 40- & 30-year fixed
• No income or employment verification
• DSCR as low as 0
• Eligible for Non-Permanent Residents and Foreign Nationals
• DSCR is available under Foreign National Program
• Ownership of any property within the past 24 months
• 1-4 Units, Condotels allowed
Non Permanent Resident
• FICO 660
• Up to 85% CLTV
• Bank statements allowed