Community Alt Doc - Full & Alt Doc Bank Statement - P&L - 1099 - Asset Utilization

Sep 16, 2026

Uploaded by Ben

Matrix-style lending guidance for Community Alt Doc and related “Full & Alt Doc” documentation. Covers occupancy categories (primary/second home vs investment), FICO tiers, loan purpose rules, LTV and cash-out limits, geographic eligibility, and product highlights including fixed and ARM options. Includes underwriting overlays such as debt consolidation restrictions for investment properties, prepayment penalty terms, appraisal requirements, desk review thresholds, declining market adjustments, and detailed income documentation options using bank statements, P&L, WVOE, and 1099.

LanguageEnglish

CategoryForms

FormatPDF

Pages1

AccessFree to download

OCCUPANCY

PRIMARY & 2ND HOME

INVESTMENT

Product Highlights

Loan Purpose and Exceptions

Product Types and Loan Amounts

Geographic Restrictions

Key Overlays and Rules

Debt Consolidation and Prepayment Penalty

Interest Only and Occupancy Limits

Property Types and Restrictions

Appraisals and Reviews

Desk Review

Declining Markets: Investment

Income Documentation

12 mos Personal/Business Bank Statements

P&L Only

WVOE and 1099 Documentation

Full & Alt Doc: Bank Statement, P&L, WVOE, 1099, Asset Utilization Community Alt Doc | Primary, Second Home and Investment | OCCUPANCY | | PRIMARY & 2ND HOME | | | | | | INVESTMENT | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Loan Amount | FICO | Purchase | Rate & Term / Debt
Consolidation | Cash-Out | | Reserves | | FICO | Purchase | Rate & Term | Cash-Out | Reserves | | < $1,000,000 | 720+ | 85% | 85% | | 80% | 3 Months | | 720+ | 80% | 80% | 80% | 3 Months | | | 700 | 85% | 85% | | 80% | | | 700 | 80% | 80% | 80% | | | | 680 | 80% | 80% | | 75% | | | 680 | 75% | 75% | 75% | | | | 660 | 70% | 70% | | 70% | | | 660 | 70% | 70% | 70% | | | $1,000,001- $1,500,000 | 700 + | 85% | 85% | | 80% | 6 Months | | 700+ | 80% | 80% | 80% | 6 Months | | | 680 | 80% | 80% | | 75% | | | 680 | 75% | 75% | 75% | | | | 660 | 70% | 70% | | 70% | | | 660 | 70% | 70% | 70% | | | $1,500,001- $2,000,000 | 700 + | 80% | 80% | | 80% | 9 Months | | 700+ | 80% | 80% | 80% | 9 Months | | | 680 | 80% | 80% | | 75% | | | 680 | 75% | 75% | 75% | | | | 660 | 70% | 70% | | 70% | | | 660 | 70% | 70% | 70% | | | $2,000,001- $2,500,000 | 700 + | 80% | 80% | | 80% | | | 700+ | 80% | 80% | 80% | | | | 680 | 80% | 80% | | 75% | | | 680 | 75% | 75% | 75% | | | | 660 | N/A | N/A | | N/A | | | 660 | N/A | N/A | N/A | | | $2,500,001- $3,000,000 | 700 + | 75% | 75% | | 75% | | | 700+ | 75% | 75% | 75% | | | | 680 | 75% | 75% | | 75% | | | 680 | 75% | 75% | 75% | | | | 660 | N/A | N/A | | N/A | | | 660 | N/A | N/A | N/A | | | *Debt Consolidation not permitted on Investment properties | | | | | | | | | | | | | | Geographic Restrictions | | | | | | | | | | | | | | Eligible States: | | NY, NJ, PA, OH, FL, CT | | | | | | | | | | | | Product Highlights | | | | | | | | | | | | | | Loan Purpose | | Purchase, Rate and Term, Cash out *Primary and Second Home (Consumer) & Investment (Business Purpose) | | | | | | | | | | | | Exceptions | | Considered on a case by case basis | | | | | | | | | | | | Prepayment Penalty
(Investment Property Only) | | 5% of the unpaid principal balance. (Other than the monthly payments required herein, if Borrower prepays this Note in whole or in part before the full term of the pre-payment period, Borrower will pay a Prepayment Premium equal to Five Percent (5%) of any amount prepaid ("Prepayment Premium")
NJ. Pennsylvania 1-2 Units > $319,777 . OH 1-2 Units not allowed. | | | | | | | | | | | | Product Types | | • Primary & 2nd Home: 30-Yr Fixed, 5/6 ARM
• Investment Occupancy: 30-Yr Fixed, 5/6 ARM, 7/6 ARM, 10/6 ARM | | | | | | | | | | | | Interest Only | | Not Allowed | | | | | | | | | | | | Loan Amounts | | Min: $150,000-Max: $3,000,000 ( > $3,000,000 case by case) . | | | | | | | | | | | | Occupancy | | Primary (O/O), Second Home (Max 80% LTV), & Investment (N/O/O) | | | | | | | | | | | | First Time Investor | | No housing late payments during the past 12 months . If Rent Free refer to guidelines. | | | | | | | | | | | | Property Types and Restrictions | | SFR, SFR + 1 ADU, Modular, PUD, Townhome, 2-4 Units, Condos, Non-Warrantable Condos, Rural properties | Condotels are eligible on investment properties only | | | | | | | | | | | | Property Overlays for Primary & 2nd Home | | Condominium Max 85% LTV | Non-Warrantable: Max 80% LTV, 2-4 Unit: Max LTV 80% | | | | | | | | | | | | Cash Out | | Max Cash In Hand: > 65% LTV $1,000,000 ≤ 65% LTV Unlimited. Cash-Out Proceeds may be used for 100% reserve requirements. | | | | | | | | | | | | Short Term Rental | | Max LTV: Purchase 75% | Refinance: 70% | | | | | | | | | | | | Acreage | | Properties up to 20-acres | | | | | | | | | | | | Appraisals | | Loan Amounts ≥ $2,000,000

FAQs

What occupancy categories does the matrix cover and how do they differ?

It distinguishes Primary & 2nd Home versus Investment occupancy. Rules for LTV, documentation, and certain exceptions (such as debt consolidation) are applied differently by occupancy type.

Which income documentation methods are referenced for underwriting?

The document lists 12-month personal and business bank statements, P&L only requirements, WVOE using FNMA Form 1005 (or approved vendor), and 1099 IRS form-only documentation with specific constraints and calculations.

What restrictions and overlays affect investment property loans?

Debt consolidation is not permitted on investment properties. Investment also includes specific appraisal/review adjustments, including declining market guidance that reduces matrix max LTV based on appraiser-identified conditions.

Sep 16, 2026

Uploaded by Ben