ALT Doc Loans
Ideal for anyone who is looking to qualify a loan without traditional documents for a variety of reasons. These loans allow for lendees to prove their ability to repay a loan through a variety of avenues, thus opening the door for many options to secure a loan.
Intro to ALT Doc Loans
Qualifying for loans with strict requirements can be difficult. When you have the means to qualify for a loan, but need a flexible entrance to get your foot in the door, Loan Vault is here to help you identify which indicators and documentation will best set you up to qualify for your loan. Call one of our trusted Loan Officers today to get started on your mortgage journey today.
What is a ALT Doc loan?
A ALT doc loan, or alternative documentation loan, is simply a loan that uses different documentation than a standard loan. These documentations can include only a 1099, only a W-2, a 12-month bank statement, an asset qualifier, or a one-year tax return. These loans are set up for prospective borrowers who are looking to qualify for a loan but do not meet the traditional requirements of a standard loan. If you are unsure if the documents you have are right for a conventional loan, an ALT doc loan, or another loan, contact us at Loan Vault to rest easy knowing we will walk you through all the necessities to get your mortgage, erasing the anxious and stress of trying to solve it on your own.
These loans:
- Can be used to get cash in hand, up to $2 million on cash-out
- Allow for debt-to-income rates up to 50%
- May be used on a primary or secondary home
- Allow for many avenues of qualification
Is a ALT Doc Loan Right For You?
Because requirements for this program vary from lender to lender, contact us today to see how you can qualify for this loan.