True North Mortgage can offer lending solutions for self-employed borrowers without traditional third party validation of income. Typically, this requires a minimum of 35% down, however, it can be done for as little as 10% down through Genworth’s Alt. A program.
Features of the Alt. A Program
Examples of Some Requirements
When putting 35% or more down lenders will be more flexible with the source of income, length of time you have been self-employed, credit score, etc. These files are reviewed on a case by case.
| Loan-to-Value | Premium on Total Loan | |
|---|---|---|
| Up to and including 65% | 1.50% | |
| Up to and including 75% | 2.60% | |
| Up to and including 80% | 3.30% | |
| Up to and including 85% | 3.75% | |
| Up to and including 90% | 5.85% |
When putting 35% or more down lenders will be more flexible with the source of income, length of time you have been self-employed, credit score, etc. These files are reviewed on a case by case.