Lite Doc
Investor
We understand that as a real estate investor some deals are time-sensitive and paperwork can be hard to wrangle. With the Investor Lite Doc, the subject property doesn’t need to be cash flow positive. We offer loan amounts up to $3 million for 1-4 units, condos and PUD’s.
Program Details
Income Verification
- Self-employed: 12 Month CPA / Accountant prepared P&L
- Salaried: Quontic VOE1 of current income only
- No tax returns or W2s required. Not a bank statement program.
- Subject property does not need positive cash flow
- Up to 50% DTI
Asset Verification
- 1 month bank statement (covering at least 30 days)
- 100% gifts allowed for down payment, closing costs, reserves2
- Cash-out proceeds may be used towards reserves
Program Highlights
- Purchase & rate/term refinance up to 75% LTV
- Cash-out refinance up to 70% LTV, unlimited cash-out funds
- 1-4 Units, condos, PUDs
- Loan amounts up to $3,000,000
- Minimum 660 FICO
- 5/6 ARM3, 7/6 ARM3, 15 or 30 year fixed
- Interest only option available on all loan terms except 15 year fixed.
- Corporations and LLCs accepted
- First time home buyers eligible
Disclosure:
This is intended for Mortgage Broker professionals. All lending products are subject to credit & property approval. Rates, program terms & conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions & limitations apply. Quontic Bank name & logo are registered trademarks. © 2020 Quontic Bank. All rights reserved.
Information is accurate as of the date listed below and may change without notice.
1 Verification of Employment
2 Reserve Requirements Subject to Loan Amount and Number of Financed Investment Properties.