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We understand that tax returns often don’t tell the whole story and instead base our underwriting decisions upon character, credit, equity, and the borrower’s overall circumstances.  \nLITE DOC Income Verification  \n• OO, Second Home, Investment, ITIN or Foreign National* Self-Employed: Quontic Proprietary P&L template or 12-month Accountant Prepared P&L  \n• Salaried or 1099 for borrowers working for 1 entity Quontic VOE1 is sent asking 1 question about income; Current Gross Annual Earning ( ALL sources)  \n• No Tax Returns or W2s required.  \nNot a Bank Statement Program.  \n• Up to 50% DTI2  \nAsset Verification  \nMin 3 months reserves for many loans  \n• 1 Month Bank Statement (covering at least 30 days used to verify reserves only)  \n• 100% Gifts Allowed for Down Payment and Closing Costs  \n• Cash-out proceeds may be used towards reserves3  \nProgram Highlights  \nLITE DOC is a great alternative to bank statement programs . (Less paperwork, less income sourcing & challenges.)  \nLITE DOC is a great alternative to stated programs . (Lower reserves, higher LTV)  \n• Loan Amounts up to $3,000,000  \n• OO 1 Unit, P, R&T, Cash-Out up to 80% LTV,  \n• OO ITIN 1-4 Unit: P, R&T, Cash  \n Second Home 1 Unit P, R&T Cash out Investment 1-4 Unit: P, R&T, CO  \n*Foreign National loans = Investment only P, R&T Max of 60% LTV CO = 60%  \nMary Shaver  \nSr. Account Executive Cell: 619-252-4139  \nWWW.QUONTICWHOLESALE.COM  \n[mshaver@quonticbank.com](mshaver@quonticbank.com)  \n1 VOE: Verification of employments 2 Debt to Income Disclosure: All lending products are subject to credit & property approval. 3 Cash-out proceeds may be used and applied towards Reserves for loans with LTV of 70% or less and FICO of 720 or greater. Rates, program terms & conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions & limitations apply. Information is accurate & effective as of September 1, 2022 & is subject to change without notice. Quontic name & logo are registered trademarks. © 2022 Quontic. All rights reserved.  \nA bit about Quontic Bank:  \nWe are never full doc for income! 100% gift allowed on all programs!  \nA very HOT opportunity for W2 * and 1099 borrowers:  \nBorrower may have just moved from a W2 position to a 1099 position with a new entity or with the same entity. Be the HERO! Great for (REALTORS, Nurses, TECH Engineers, Union workers, Gig Economy workers. )  \nSuccess stories:  \nWe are closing a loan for a Nurse that moved to a new company 3 months ago and is now 1099 making a lot more $$ . Weare using current gross income ALL sources!  \nHow about a new Doctor just moving out of her residency into a 1099 position…No problem.  \nBorrower HAS been “in the same line of work for 2 + years” completing residency.  \nNow Borrower has opted to go 1099 for tax purposes as a fully licensed doctor….We use current gross income!  \nMost lenders will decline this loan or require 1 year, or FNMA / FHLMC require 2 years.   \nWe don’t care…We don’t even know if the borrower is W2 or 1099. (Quontic VOE does not ask)   \nFor 1099 borrower working for 1 entity, we can send out our proprietary VOE to the entity. (No W2 or 1099 or Paystub required.)  \nThe VOE* asks 1 question about income: Attached…We send it out.  \nApplicant’s Date of Employment:    \nPresent Position:    \n*Current Gross Annual Earnings (all sources):     \nProbability of Continued Employment:    \nDoes Applicant Have Any Ownership in Business: No   Yes   ;   %  \n* Our Lite Doc program is a great option for W2 borrowers with inconsistent income streams OR INCOME THAT IS NOT ON A TRADITIONAL Paystub.  \nPayments for services rendered,  \nBonus, commissions,  \nRoyalties,  \nOver-Time,  \nCash Tips, Stipends,  \nRestricted Stock Options,  \nVenmo gr","cbCaicXuoDdGUey7","https://ap.wps.com/l/cbCaicXuoDdGUey7","pdf",320508,"English","# Income Verification\n## Self-Employed and 1099 Options\n## VOE for Borrowers Working for One Entity\n## Asset Verification and Reserves\n## Program Highlights and Loan Terms","[{\"question\":\"LITE DOC是否需要提交W2或报税表？\",\"answer\":\"不需要。LITE DOC不要求税表或W2。\"},{\"question\":\"自雇或ITIN/外国国籍等借款人使用什么收入材料？\",\"answer\":\"自雇/ITIN/外国国籍通常使用Quontic专有P\\u0026L模板，或提供12个月的会计师准备P\\u0026L，并按项目范围进行匹配。\"},{\"question\":\"资产与首付费用能否使用礼金（gift）？\",\"answer\":\"可以。下付首付款和过户结算费用允许100%礼金，并且多数贷款需要至少3个月的储备金要求；银行流水通常仅用于核验储备。\"}]","LITE DOC - Self-Employed Income Verification Program - Quontic Wholesale | PDF"]