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1099 and Bank Statement Mortgage
Alternative Income loans help self-employed borrowers qualify for a mortgage with bank statements and 1099s
Important Information - Please Read
Arc Home LLC is not currently licensed to conduct residential mortgage lending activities in Hawaii, Utah, and Nevada and this site is not intended for use by consumers seeking to obtain residential mortgage financing in either state.
By clicking Apply Now, (1) you expressly consent to having Arc Home LLC contact you about your inquiry by phone (including usage of an automatic telephone dialing system), whether by a voice call, ringless voicemail, or by text messaging, to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any service from Arc Home LLC. I understand I can withdraw my consent at any time. Message and data rates may apply; and (2) you represent that you are not a resident of the State of New York. If you are a resident of the State of New York, please contact Arc Home directly via email at customercare@archomeloans.com or by telephone at (833) 532-2519.
Eligible Properties
We lend on Primary, Second Home or Investment Properties, Rural Properties and Warrantable/Non-Warrantable Condos.
Up to 90%LTV
Minimum Credit Score of660
Funding from$100k-$3M
First-Time HomebuyerPrograms available
Alternative Income
Arc Home's Alternative Income program is ideal for self-employed borrowers who cannot qualify for a home loan using just their tax returns.
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Bank Statement loans allow the use of 12 or 24 month personal or business bank statements to calculate income
- - No Tax Returns or W-2's required*
- Borrowers may also qualify using assets in lieu of employment*
- Available for Cash Out Refinance, Rate and Term Refinance or Purchase
- Primary, Second Home or Investment Properties
- Loans up to $3 million
- Borrow up to 90% of the value of the property
- Credit score as low as 660
Additional documents may be required for eligibility. This is not a reduced doc or low doc loan program.
We have programs even if you've recently had a Bankruptcy
Discharge.
Let us finance your next Investment Property.
Our Products
Frequently Asked Questions
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1. What is an Alternative Income mortgage?
Alternative Income mortgages allow eligible borrowers to use bank statements or assets to verify a borrower's income in lieu of W-2s or tax returns. These loans are often a great option for qualified self-employed borrowers or those with significant assets.
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2. How does an Alternative Income Mortgage differ from a traditional mortgage?
Unlike a traditional mortgage that requires tax returns or paystubs as proof of income, our Alternative Income Loan Programs provide borrowers the. ability to use bank statements for income and cash flow verification. Personal assets may also be utilized to qualify. Alternative Income mortgages may also require additional documents to qualify for the loan such as a business narrative.
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3. What if I have not filed my tax returns?
No problem, we do not need income tax returns and you do not need to sign IRS Form 4506-T for loan qualification purposes.
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4. Can I use another person's conventional income on the loan?
Yes, you can use an additional applicant's conventional income from employment, retirement, or other sources on the loan in addition to your income.