LENDERLINE^® is currently offering alternative documentation mortgages using 1 month’ personal bank statement as income:

• The property must be located in the State of California.
• Most recent 1-month personal bank statement used as income.
• No NSFs allowed.
• Positive ending balance required.
• No tax returns.
• No 4506-T.
• Self-employed borrowers only.
• Owner-occupied transactions only.
• Purchase, rate and term, or cash out refinance allowed.
• Up to 75% loan-to-value for purchase, and up to 70% LTV for refinance.
• 650 minimum credit score.
• Credit depth required of at least one credit account rated for at least 5 years and two accounts rated for at least 2 years.
• 24-month recent mortgage history required.
• No mortgage delinquency allowed in the past 5 years.
• No foreclosure, deed-in-lieu, short sale, or bankruptcy allowed in the past 5 years.
• No charge-offs, collections or tax liens allowed in the last 3 years.
• Up to 50% debt-to-income ratio.
• SFR, PUD, condo, and townhouse allowed.
• 2-4 units not allowed.
• Rural properties not allowed.
• First time home buyers allowed (maximum 65% LTV and $1,000,000 loan amount).
• $250,000 minimum loan amount.
• $5,000,000 maximum loan amount.
• Gift funds allowed for down payment and closing costs.
• Available as a 5/1 ARM, 7/1 ARM or 30-year fixed.
• All loans require impounding of property taxes and hazard insurance.
• Interest-only option available (see underwriting guidelines and pricing adjustment).
• No prepayment penalty.

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LENDERLINE^® is your alt-doc 1 month bank statement lender of choice. We offer many mortgage types, including our 1 month bank statement mortgage loan program, which is also known as an alt-doc loan.

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.