Cardinal Mortgage Offers Alternative Mortgage Solutions that Banks & Traditional Lenders Simply Cannot Offer!
Available for properties located in New York, New Jersey and Connecticut.
Lite Documentation / No Income Check Mortgages
Applicants may qualify for mortgage loans with greatly reduced documentation.
Highlights:
- Both self-employed and salaried (wage earners) borrowers are eligible
- Owner Occupied, Single Family Homes, 2-4 Family Homes, Condos and Coops are eligible
- Second / Vacation Homes also eligible
- Purchase, Rate and Term and Cash Out Refinances available
- Loan amounts to $3,000,000
- No Paystubs, W-2 Statements or Tax Returns required
- Assets: One month’s bank statement / 100% gifts allowed
- “New” – Ask about our all new Form 1099 only option
See details on the Lite Documentation (No Income Check Mortgages) below:
- Lite Documentation
- Self Employed and Salaried (Wage Earners) are eligible
- Interest Only Feature Available (Save Hundreds on Monthly Payment)
- 80% LTV (Loan to Value) on Purchases and Rate and Term Refinances
- 75% LTV (Loan to Value) on Cash Out Refinances
- Self Employed Documentation Required:
- Self Employed at least one year and same line of work at least two years
- Employment and Income is stated on the application
- Business License / Certification / Credentials to be provided
- 12 Month Profit and Loss Statement signed by accountant or tax preparer
- CPA, Accountant or Tax Preparer Letter verifying the following:
- Business Inception Date
- Borrower’s position and percent ownership
- Letter must be on professional’s letterhead, signed and dated
- Letter must include the professional’s license or PTIN
- License or PTIN must be verifiable by the state
- Wage Earner Documentation Required:
- Employed for at least two years
- Employment and Income are stated on the application
- WVOE (Written Verification of Employment) will be sent directly from lender
- WVOE must verify two years of employment, but only one year of income
- Validity check on the employer will be performed by the lender
