GET TO KNOW ACCESSIBLE MORTGAGE PROGRAM

There are typical borrowers who qualify for typical home loans, and then there are specialty borrowers with situations that are just different enough to require a little extra analysis. We are proud to offer a range of products designed for many different kinds of above-average borrowers - enter Arcstone Financials' Accessible Mortgage Program or AMP.

AMP is a Non-QM or Non-Qualified Mortgage product, to learn more about these programs, please reach out to your Arcstone Financial Mortgage specialist.


Bank Statement Loans

Your ability to qualify is determined by analyzing your most recent 12 to 24 months of bank statements instead of tax returns.

Bank Statement Loans

Your ability to qualify is determined by analyzing your most recent 12 to 24 months of bank statements instead of tax returns.

Bank Statement Loans

Your ability to qualify is determined by analyzing your most recent 12 to 24 months of bank statements instead of tax returns.

Bank Statement Loans

Your ability to qualify is determined by analyzing your most recent 12 to 24 months of bank statements instead of tax returns.

Bank Statement Loans

Your ability to qualify is determined by analyzing your most recent 12 to 24 months of bank statements instead of tax returns.

Bank Statement Loans

Your ability to qualify is determined by analyzing your most recent 12 to 24 months of bank statements instead of tax returns.

Bank Statement Loans

Your ability to qualify is determined by analyzing your most recent 12 to 24 months of bank statements instead of tax returns.

Bank Statement Loans

Your ability to qualify is determined by analyzing your most recent 12 to 24 months of bank statements instead of tax returns.

Bank Statement Loans

The Bank Statement Loan program is our leading option for many utilizing our AMP Suite. Bank statement loans are nontraditional loans or expanded criteria loans that allow other forms of documentation to prove the ability to repay. Just as it sounds, a bank statement loan allows the borrower to verify his or her income with bank statements.


Who Should Apply?

  • Business Owners
  • Freelance Employees
  • Consultants
  • Contract Workers
  • Independent Contractors
  • Sole Proprietors
  • Gig Economy Workers
  • Realtors
  • Entrepreneurs

Advantages of a Bank Statement Loan

  • Qualify with monthly bank statements using an average of your total deposits.
  • The lender can look at 12 or 24-month bank statements.
  • You can get a bank statement home loan for as little as 10 percent down.
  • First-time homebuyers are allowed, restrictions may apply.
  • Typically, we will accept a debt-to-income ratio of a maximum of 50 percent. (1)
  • You can borrow up to $3 million. (2)

Criteria for Bank Statement Loans

  • Must be a business owner or self-employed for at least two years.
  • Must have a credit score of 660 or above.
  • Loan amount between $150,000 and $3,000,000. (2)
  • Must have 12 or 24 months of Bank Statements.
  • Up to 80% LTV.
  • Applicants must own 25% or more of the business.

(1) Exceptions allowed on case-by-case basis.

(2) Maximum loan amount exceptions on a case-by-case basis. Additional criteria may apply.

P & L Loans

Second to our popular Bank Statement program, the P&L Loan Program is the next offering in our AMP Suite. Rather than using tax returns, we allow the business owner to have their accountant or licensed tax preparer provide a 12-month Profit and Loss (P&L) Statement as income, which often provides a more accurate portrait of the applicant’s true income profile. This loan program is similar to our Bank Statement Program, but the documentation requirements are much easier than providing 12 - 24 months of bank statements.


Who Should Apply?

  • Business Owners
  • Freelance Employees
  • Consultants
  • Contract Workers
  • Independent Contractors
  • Sole Proprietors
  • Gig Economy Workers
  • Realtors
  • Entrepreneurs

Advantages of Profit & Loss Statement Loans

A Profit and Loss statement is required if the borrower is self-employed. Unlike most mortgage products, with this program, income and employment documents are not used as qualifying factors. Personal or Business Bank Statements may be used to document reserves.

There are no prepayment penalties for owner-occupied and second homes.

Criteria for Profit & Loss Statement Loans

  • Must be a business owner or self-employed for at least two years.
  • Must have a credit score of 660 or above.
  • Loan amount between $150,000 and $3,000,000. (1)
  • Must have 12 months of P&L Statements.
  • CPA/CTEC/EA signed / prepared P&L statement (s) required.
  • A letter from the CPA, CTEC, (CA Tax Education Council), or EA (Enrolled Agent) stating that the applicant has been self-employed for a minimum of two years.

(1) Maximum loan amount exceptions on a case-by-case basis. Additional criteria may apply.

Asset Loans

Asset depletion is a way to qualify for a loan using substantial assets rather than income from employment. Asset depletion loans use your assets as collateral instead of your income. The program allows you to deplete your assets as a way to count that money as income for the duration of the loan.


Who Should Apply?

  • Investors
  • Entrepreneurs
  • Existing Homeowners
  • Cryptocurrency Borrowers

When Do Asset-Based Loans Make Sense?

Asset-based mortgages are designed for home buyers and homeowners who have significant verifiable assets and would benefit from alternative loan qualifications.

Borrowers who use an asset depletion program to qualify do not need to show any other sources of income or employment. If their assets are sufficient to pay for the loan — as well as regular living expenses — they can qualify based solely on the asset depletion calculation.

Criteria for Asset-Based Loans

  • No employment or income documentation is required.
  • Must have a credit score of 660 or above.
  • Loan amount between $150,000 and $3,000,000. (1)
  • All occupancy types are allowed.
  • Qualification is determined solely based on the Applicant’s liquid assets and assets that they can liquidate without restriction.

(1) Maximum loan amount exceptions on a case-by-case basis. Additional criteria may apply.

Bank Statement Loans

Popular amongst our investor clients, Cashflow Loans are another option in our AMP Suite. A cashflow loan or debt service coverage ratio (DSCR) loan is a measure of the cash flow available to pay current debt obligations. DSCR is typically used by lenders to qualify a borrower for a real estate investment loan because it determines the borrower’s ability to repay the loan.


Who Should Apply?

  • Investors
  • Entrepreneurs
  • Existing Homeowners
  • Cryptocurrency Borrowers

How Do Cashflow Loans Work?

We want to calculate the DSCR to determine the ability to borrow and pay off the loan as the rental property generates income. Let’s say the property indicates that net operating income will be $300,000 per year, and the lender notes that debt service will be $100,000 per year. The DSCR is calculated as 3.00x, which should mean the borrower can cover their debt service more than three times given their operating income.

Criteria for Cashflow Loans

  • Loan amount between $150,000 and $5,000,000. (1)
  • Financing for up to 8 Units.
  • Must be a non-owner-occupied property.
  • Must have a credit score of 660 or above.
  • No debt-to-income (DTI) or employment verification is required.
  • DSCR must be greater than or equal to 1. (The gross rent must be greater than the mortgage payment including principal, interest, taxes, insurance, and any property association fees.)
  • The borrower must have a history of owning and managing at least one property for a minimum of 12 months within the most recent 36 months on DSCR products.
  • First-time investor ineligible on some Cashflow products.

(1) Maximum loan amount exceptions on a case-by-case basis. Additional criteria may apply.

Why is the Cashflow (DSCR) ratio important?

The debt service coverage ratio is important because it provides valuable information to lenders concerning a borrower's ability to sustain and pay off debts for a commercial or multifamily property. In other words, it's important to know because it helps lenders learn if their borrowers can successfully generate enough cash flow to cover their loan payments.


AMPossible

AMPOSSIBLE is a Game-Changing program that unlocks the door to homeownership. AMPOSSIBLE provides access to home financing for those in the gap between renting and owning. In addition, AMPOSSIBLE offers seller-provided home loans to consumers entering new careers, gig workers, business owners, or those simply having difficulty qualifying for a traditional home mortgage.


Who Should Apply?

  • First-Time Homebuyers
  • Self-Employed Borrowers
  • 1099 and Gig Workers
  • College Graduates
  • Student Loan Burdened Borrowers
  • ITIN/DACA Borrowers
  • Borrowers With Credit Issues
  • Borrowers Who Have Relocated
  • Borrowers Who Have a New Job

Advantages

  • 96.5% financing up to FHA loan limits.
  • No income or asset seasoning required.
  • 40-year amortization.
  • DACA or borrowers who do not have SSNs (ITIN) eligible.
  • S/E, 1099 and gig workers less than 1 yr. allowed. (1)

(1) Most recent filed return, P&L, and bank statement for cash flow.

Criteria

  • Max PTI/DTI: 42% | 55% (38% max for self-employed).
  • 1 payment in liquid reserves (proof of funds for cash to close required).
  • 12 months verified housing history required.
  • 600+ credit score (660+ for self-employed or 2nd home) required.

Bank Statement Loans

Looking for a loan but aren't eligible for a Social Security number? Individual tax identification number (ITIN) loans are for non-U.S. citizens who live and work in the U.S., file taxes, and are not eligible for an SSN. The opportunity to own a home for non-U.S. citizens is within reach today.


Who Should Apply?

  • Individuals with a current ITIN card
  • Non-U.S. citizens living and working in the U.S.
  • Individuals with work permits
  • Self-Employed Borrowers

Advantages

  • No Visa or SSN is required to qualify.
  • Full doc or alt-doc accepted.
  • 100% gift funds allowed.
  • Non-occupying co-borrowers permitted.
  • Single-family, 2nd home, townhome (1) PUD, condo (warrantable and non-warrantable) permitted.

(1) No highrises

Program Details

  • Loan-to-value (LTV) up to 80%.
  • Debt-to-income (DTI) up to 55%.
  • Cash-out refinances up to 75%. (2)
  • 12 months income documentation.
  • Valid ID required (can be foreign ID).
  • TransUnion credit only

(2) Not available in TX or with credit score <640

Bank Statement Loans

¿Busca un préstamo pero no puede obtener un número de Seguro Social? Los préstamos con número de identificación fiscal individual (ITIN) son para ciudadanos no estadounidenses que viven y trabajan en EE.UU., declaran impuestos y no son elegibles para un SSN. La oportunidad de poseer una vivienda para extranjeros está hoy al alcance de su mano.


¿Quién Debería Aplicar?

  • Personas con tarjeta ITIN en vigor.
  • Ciudadanos no estadounidenses que viven y trabajan en EE.UU.
  • Individuos con permiso de trabajo.
  • Trabajador independiente.

Ventajas

  • No se requiere Visa o SSN para calificar.
  • Se acepta documentos completos o alternativos.
  • 100% fondos de regalo permitidos.
  • Se permiten coprestatarios no ocupantes.
  • Se permiten casas unifamiliares, segunda casa, casa adosada (1), PUD, condominios garantizados y no garantizados.

(1) Sin edificios de gran altura.

Detalles Del Programa

  • Debe tener una relación préstamo-valor (LTV) de hasta el 80%.
  • DTI (relación entre deuda e ingresos) máxima del 55%.
  • Retiro de efectivo hasta el 75%. (2)
  • Documentación de ingresos de 12 meses.
  • Se requiere una identificación válida (puede ser una identificación extranjera).

(2) Solo crédito de TransUnion.(2) No disponible en TX o con puntuación de crédito < 640.

Bank Statement Loans

Looking to move but unable to qualify to purchase a new home before you sell your current home? No problem! Our Buy Before You Sell loan program can exclude your current home's PITIA (1) from the debt-to-income ratio! This is not a bridge program; it's a program that gives homeowners with capital a chance to buy before they sell.


Who Should Apply?

  • Buyers that currently need to sell in order to buy but can't qualify with two home payments.
  • Buyers that do not qualify for bridge financing due to both properties' monthly payments.

How Does it Work?

  • List your current property online.
  • We will eliminate your current mortgage payment from qualifying.

Program Details

  • Your current home is listed for sale (no need to be under contract.)
  • Your current home's LTV is ≤ 80%, which is demonstrated by an exterior (drive-by) appraisal.
  • Additional 12 or 24 months of reserves for the departing residence depending on factors.
  • If your current home is under contract with no financing contingency as of the closing date, all that is needed is an additional 6 months of reserves for your current home.

(1) Principal, Interest, Taxes, Insurance, and Association fees (if applicable).

Arcstone Financial Inc NMLS #344236 https://nmlsconsumeraccess.org/ licensed by CA DRE #01468445. Information subject to change without notice. This is not an offer for extension of credit or a commitment to lend. All rates, fees and programs are subject to change and/or withdrawal from the lending practices without notice. Eligibility can vary based on meeting minimum credit score/tradeline, documentation, loan to value, and occupancy. Ask to speak with a home loan consultant for pre-qualification/pre-approval. Equal Housing Opportunity.

NMLS: 344236

DRE: 01468445

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Contact info

1917 Hillhurst Ave

Los Angeles, CA 90027

Tel | +1-323-665-5000


TPO@arcstoneinc.com

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