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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.

Download program flyer

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 $1,000,000 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. 2022 Quontic Bank. All rights reserved. 

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

August 15, 2023
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.