Bank statements
Some programs evaluate eligible deposits and business expenses when reviewing income. Documentation and calculation methods vary.
Different documentation paths
Non-QM Loans
Non-QM means a loan does not meet the Qualified Mortgage definition. It does not mean qualification is waived. Explore how documentation, costs, and loan features can differ.
Understand your options
Documentation paths to discuss.
Profit-and-loss statements
Certain programs may consider a professionally prepared business profit-and-loss statement, with additional verification as required.
Rental-property cash flow
DSCR programs evaluate rental income in relation to property debt obligations. Property, credit, reserves, and other requirements still apply.
ITIN documentation
Some programs accept an Individual Taxpayer Identification Number. Identity, residency, income, and other eligibility rules are program-specific.
Eligible assets
Asset-utilization programs may calculate qualifying income from eligible assets, subject to ownership, liquidity, and reserve requirements.
1099 income
Certain programs may use 1099 income records, together with any additional documentation and underwriting review required.
Foreign national investment
Some investment-property programs consider eligible foreign national borrowers. Documentation and available terms depend on the specific program.
Prepare for the conversation
What to review together.
- Explain your income sources, business history, assets, and intended property use.
- Ask which documents and reserves the specific program requires; requirements are not interchangeable.
- Compare interest, fees, prepayment terms, and any interest-only or balloon-payment features before proceeding.
Common questions
A little more clarity.
General information can help you prepare. Your loan officer can explain the requirements for your particular property, finances, and program.
Does non-QM mean no income verification?
No. The program’s rules determine what must be documented and reviewed. A different documentation method does not guarantee approval or remove applicable underwriting requirements.
Is a DSCR loan the same as a regular home loan?
No. DSCR financing generally focuses on an investment property’s rental cash flow and is often structured for business purposes. Confirm permitted occupancy, documentation, fees, and any prepayment provisions.
Are all these options available in every situation?
No. These are documentation paths to discuss, not an approval or confirmation of availability. Programs, properties, borrower eligibility, and state requirements vary. Ask ECC to confirm current options for your circumstances.
Educational information only; not a rate quote, loan approval, or commitment to lend. Program availability, eligibility, rates, fees, and terms depend on underwriting, property, and state availability. Your situation may require different documentation or disclosures. East Coast Capital is not affiliated with or endorsed by HUD, FHA, VA, or another government agency. NMLS ID #1403.