Loan Program
Alternative Income Documentation Loan
A mortgage that may use written employment verification, a profit-and-loss statement, or eligible 1099 income instead of traditional tax returns.
A mortgage that may use written employment verification, a profit-and-loss statement, or eligible 1099 income instead of traditional tax returns.
Program overview
- The source guidelines include written verification of employment, profit-and-loss, and one-year 1099 documentation paths.
- Purchase, rate-and-term refinance, and cash-out refinance structures are addressed.
- Income method, credit, assets, reserves, property, occupancy, and manual-underwriting requirements vary by scenario.
Who this may help
Borrowers who may need an alternative method of documenting income.
Key guidelines
- The source guidelines include written verification of employment, profit-and-loss, and one-year 1099 documentation paths.
- Purchase, rate-and-term refinance, and cash-out refinance structures are addressed.
- Income method, credit, assets, reserves, property, occupancy, and manual-underwriting requirements vary by scenario.
Important notes
Program information is summarized from the current wholesale source guidelines. Requirements and availability may change. A complete borrower, property, and transaction review is required before determining whether an option is available.
Best next step
Contact RGI Mortgage to review the complete scenario and compare available options.
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Next Step
Questions about this loan program?
Talk with RGI Mortgage about whether this option may fit your situation before choosing a loan path.