V.I.P. Mortgage, Inc.

IDNR (Income Documentation Not Required) Program

A return to common-sense underwriting, for prime, credit worthy borrowers without income verification.

• Loan Amounts Up to $3 Million
• Up to 80% LTV Purchase/Rate & Term
• Primary Residence and Second Homes
• Credit Underwritten Based on LTV, FICO, and Liquidity “reserves”
• Reserves from 3 Months depending on credit score
• Cash out can be counted as reserves
• FICO’s Beginning at 640
• Asset Seasoning 30 Days
• Only first page of a bank statement required for typical portfolio loans
• Income Documentation Not Required
• Income Information is not listed on the application
• Debt-to-Income (DTI) Not Calculated

3-month Bank Statement Program

Qualify with most recent Personal or Business Account’s Bank Statements.

• Up to $3M Loan Amount
• 75% Max LTV Purchase
• 70% Max LTV Refinance
• Self-Employed Borrowers Only
• 675 or greater credit scores
• Owner Occupied Only
• First Time Home Buyer considered at Lower LTV
• Transfers can by used for qualifying income
• All exceptions are reviewed case by case

12-month Bank Statement Program

Qualify with 100% on Personal Account Deposits and 50% on Business Account Deposits (12 consecutive months).

• Up to $4M Loan Amount
• 90% Max LTV
• Self-Employed and 1099 Borrowers
• 600 or greater credit scores
• No reserves required at 75% or less LTV
• No 4506T / No K1’s / No P&L’s
• No Mortgage Insurance
• All exceptions are reviewed case by case

ATR-IN-FULL Program

Qualify with enough liquid asset to cover the loan balance. ATR = Ability to Repay.

• Borrower does not have to be currently employed
• Only show two months of statements for qualifying account
• 600 or greater credit scores
• 75% Max LTV Purchase
• 70% Max LTV Refinance
• Owner Occupied Homes Only (not for investment properties)
• Can use Liquid Assets
• All exceptions are reviewed case by case

JUMBO Non-QM Program

• Loan amounts up to $4M
• I/O (interest only) available with a 650+ FICO
• Cash out available with no max cash in had depending on LTV
• Foreign National
• No reserve requirements at or below 75% LTV, no reserve requirements at or below 75% LTV, cash out proceeds can be used for reserves above 75%
• All exceptions are reviewed case by case

JUMBO Prime Program

• Business funds can be used for reserves (Must be 100% owner)
• No MI, impounds can be waived
• Cash out up to $500k
• All exceptions are reviewed case by case

Foreign National Program

• Letter of good standing with current financial institution or international credit report
• 1-4 unit properties
• Loan amounts up to $2M
• No income, job, or credit required
• No reserves
• Non-Owner Occupied properties only
• 5yr/7yr ARM and 30-year fixed
• Condotels/Pudtels allowed
• 70% Max LTV Purchase
• 65% Max LTV Refinance
• All exceptions are reviewed case by case

Interest Only Program

• 650 minimum credit score
• Loan amounts up to $4M (owner-occupied)
• Owner Occupied, Non-Owner Occupied and 2nd Homes
• Available on 5/1 and 7/1 ARM
• Max LTV up to 90%
• All exceptions are reviewed case by case

Investor Cash Flow Program

• Available for single family residences, 2-4 units, condos, townhomes, condotels, and non-warrantable condos
• Qualify on cash flow – 12 mths reserves required for negative cash flow, cash-out can be used to cover reserves
• Loan amounts up to $2M
• Non-owner occupied only
• No job verification
• 5yr/7yr ARM and 30-year fixed
• Reconciled rent estimates based on 1007 or lease agreement
• All exceptions are reviewed case by case