1st Florida Lending
When Banks Say No ! We Say Yes !
NON-QUALIFYING LOANS

We Offer Solutions when Conventional Financing is Not an Option

WHAT IS A NON-QUALIFYING MORTGAGE?

Simply stated.  a Non-qualifying loan is a funding solution for borrowers with unique financial circumstances. Listed  below are a few examples 

SELF-EMPLOYED BANK STATEMENT PROGRAM

•Personal or business statements

•100% of eligible deposits from personal and business accounts

•Borrower’s qualifying income is calculated by 12 months most recent bank statements in place of tax returns. 

ASSET DEPLETION

•The borrower is qualified based on verified liquid assets;

•Assets must be documented sufficiently to cover the loan amount requested with an additional reserve to cover all revolving, installment and miscellaneous debts (e.g. child support, alimony, etc.);

•Assets can be cash in the bank, stocks, bonds, IRA’s, 401k’s, mutual funds or any retirement accounts;

•12 months of consecutive statements are required for asset verification;

•Tax returns are not needed in Underwriting.

•100% of vested retirement for borrowers over 59 ½ years old and 50% of vested retirement assets if borrowers are under 59 ½ years old

COMMERCIAL PROPERTY AND REAL ESTATE INVESTOR

•Designed for experienced Real Estate Investor who is purchasing or refinancing investment properties to be held for business purposes;

•Borrower is qualified based upon the cash flow of the subject property, specifically the debt coverage ratio

•Income verification not required or verified; tax returns not required.

JUMBO AND SUPER JUMBO

•Loan amounts up to 7 Million 

•Maximum DTI of 50%

FOREIGN NATIONAL PROGRAMS

•Minimum Documentation for second, vacation or investment property

Non-Qualifying Mortgage Benefits

•Ideal for self-employed and or people with non-traditional financial circumstances

•Alternative income verification methods accepted

•Foreign Nationals

•Multiple fixed and adjustable loan options are available

•Loan maximum is as high as $7 million

•Primary, Second, Vacation and investment properties are eligible

 


        
2151 Consulate Dr., Suite 8, Orlando, Florida, 32837, United States
1-407-300-2558
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