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Owner-Occupied Lite Doc

Now available to more, less cumbersome for most

As a CDFI, we validate income with a unique approach to qualifying ability to repay. Borrowers shouldn’t be judged based on what they made years ago. No tax returns or W2’s needed. 100% Gifts allowed for down payment and closing costs.

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This information is provided for the benefit of mortgage professionals and not intended for consumers or the general public.

Zillow 2022 rating: 4.9 of 5 stars
Inc. 5000 Fastest Growing Private Companies 2022
B&T Fast 50 Residential Volume & Number 2022
2 Hour Scenario Guarantee

Submit your borrower’s scenario between 9 a.m. and 4 p.m. EST
Monday – Friday and we’ll get back to you with options in two hours or less.

Submit a scenario
Submit your borrower’s scenario between 9 a.m. and 4 p.m. EST Monday-Friday and we’ll get back to you with options in two hours or less.
Submit a scenario

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.

Asset verification

  • 1 month bank statement (covering at least 30 days)
  • 100% gift funds allowed for down payment and closing costs
  • Cash-out proceeds may be used towards reserves3

Borrower qualification

  • Minimum 660 FICO score (Minimum 660 for FTHBs)
  • Up to 50% DTI2

Program highlights

  • Purchase & rate/term refinance up to 80% LTV
  • Cash-out refinance up to 80% LTV, up to $1,500,000 cash-in-hand Proceeds
  • 1-4 units, condos, coops, PUDs
  • Second homes allowed
  • Loan amounts up to $3,000,000
  • Flexible terms
  • Interest only option available on all loan terms except 15 year fixed
Start an application

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Borrowers who love Lite Doc

Self-employed

No traditional income verification

Commission-based workers

Inconsistent or difficult to document income

Freelancers / Gig workers

Multiple income sources

For more information on the types of borrowers that may benefit from a Lite Doc mortgage, check out this article.

Disclosure:

This information is provided for the benefit of mortgage professionals and not intended for consumers or the general public. 

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. ©️ 2024 Quontic Bank. All rights reserved. 

Information is accurate as of the date listed below and may change without notice.

October 31, 2024
1 VOE stands for Verification of Employment
2 Debt-to-Income

3 Cash-out proceeds may be used and applied towards reserves for loans with LTV of 70% or less and FICO of 720 or greater.

Inc. 5000 is a registered trademark of Mansueto Ventures LLC. B&T is an abbreviation for Banker & Tradesman, which is a copyright of The Warren Group. Zillow is a registered trademark of Zillow, Inc.