Alternative Income Product

Portfolio Products- Alternative Income

An innovative product for clients who wish to purchase or refinance, but do not fit QM loan requirements for reasons such as self-employment or recent job change.

Designed for Customers:

  • Self-employed for less than two years who can provide a record of their income
  • Self-employed for more than two years and have a more profitable recent year
  • Who have recently transitioned to commission or bonus-based income

Guidelines

  • Loan amounts up to $1,500,000
  • 680+ FICO
  • 85% LTV or less
  • 43% DTI or less
  • 15-year and 30-year fixed-rate
  • Competitive 5/1 and 7/1 low interest rate ARMs available
  • 6 or 12 month reserves
  • Eligible for non-warrantable condos, when primary or secondary residency
  • Second homes and investment properties permitted
  • Cash-out loans available
  • Gift funds permitted

View Product Page PDF

Contact your representative or UnderwritingQuestions@BayviewLoanServicing.com for information on product flexibility and options.

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