In this video, we discuss a very innovative loan:

The owner-occupied, lite-doc program. LITE-doc is what makes this loan special. The documentation requirements are simple. Seriously. If you're employed, provide written verification of your current income. If you're self-employed, provide a self-prepared P&L. That's it. It doesn't get more creative or flexible than this. Watch our video to learn more about this creative product. #owneroccupied #primaryresidence #secondhome #refinance #homeloans #mortgage #litedoc #profitandlossstatement #verificationofemployment #mortgagebroker #residentialmortgage #selfemployed #bankturndown #brokersarebetter   When it comes to getting a loan to purchase or refinance your primary residence or second home, proving your ability to repay doesn’t have to be difficult. With a LITE. DOC. PROGRAM, you provide minimal documentation and you can still get high loan-to-value and favorable rates. Let’s see if this program is right for you. Number 1 -- Do you have a hard time showing your income? Under the lite-doc program, no tax returns or W2s are needed. And, you won’t be judged on what you made years ago. Instead, you simply provide a written verification of employment showing CURRENT income only. If you’re self-employed, you provide a P&L -- that can even be prepared by YOURSELF -- that covers JUST THE PAST 12 MONTHS. That’s it. Simple.   Number 2 -- Do you have a high debt-to-income ratio? For many lenders, having a DTI greater than 43% is a deal-breaker. However, under the lite-doc program, DTIs as high as around 50% are allowed. Number 3 -- What are other unique features about the lite-doc program? Besides single-family homes, this program also applies to 2-4 units, warrantable as well as NONWARRANTABLE condos, PUDs, townhomes, and even co-ops. Finally, the credit score requirements aren’t overly strict, And the maximum loan-to-value is relatively high. That’s pretty impressive considering the minimal documentation you have to provide.