20% Down...

No W2’s, Paystubs,

No Tax Returns...Marginal Credit OK ....

Purchase or Refi!!!!!

With home prices stabilizing, we are seeing more sources of capital flowing back into So Cal housing market.

This is leading to a "relaxation" of lending criteria that should boost home sales.

This latest loan program is tailor made for borrowers who are:

1)  W-2 employees that have "job related" expenses (i.e. sales persons) that are typically listed on the schedule "A" of the federal tax return.

2) Have other miscellaneous tax deductions (i.e. child care) that substantially reduces the borrowers ability to qualify for that higher priced home.

Here's how the program works:

1.   The borrower's employer will complete a written VOE and will fill out the following (job title, length of employment, likelihood to continue, and income)

2.   No W2's, paystubs, tax returns,

3.   The max. back end ratio is between 45 and 50% (depends on assets)

4.   The income has to make sense for the length of time with the company, years of experience, credit profile, and the size of the current employer

5.   Use the following websites to verify the salary and size of the company (www.salary.com, www.manta.com)

6.   W2 borrowers only, no self employed (even if they W2 themselves)

7.   Owner Occ properties (max 80% LTV) and Investment properties (max 60% LTV)

8.   Purchase, rate and term refi, and cash out refi

9.   620 or better FICO for conforming ($417K), 660 or better FICO for conforming high balance ($729,750)

Please contact me for further details.

I will get your borrower approved within 48 hours.

Daniel Dobbs

American Commerce Mortgage

949 250-3981

dandobbs6@gmail.com