The difference lies in how income is verified.

• Full doc – Verifying income through tax returns and, pay stubs if W-2 employee.
• No doc – No tax-related documents required.

Loan Limit? About 3.5 times of annual income.

NO Doc Income Verification

• VOE – Verifiacation of Employment

This applies to individuals employed by a company. If your employer, supervisor, or HR manager can confirm your employment over the phone, it can be accepted as income verification.

• Bank Statements – 12 months or 24 months

We consider 50% of the total deposits in your account as your annual income—regardless of your expenses

• DSCR – Debt Service Coverage Ration

We use this method to qualify your income based on rental potential. We count 75% of the projected monthly rental income from the property you plan to purchase.

• P&L letter – Profit and Loss Statement

This option is for self-employed individuals. If your P&L statement is prepared by a CPA, we accept the total amount as your verified income. We can recommend a CPA if you’re expeciencing any issues with your current one.