The modern borrower earns income differently. Agency loan options (Fannie Mae, Freddie Mac, FHA, etc.) haven't evolved to serve them. As a Non-QM lender, Champions Funding is proud to offer financing options that qualify borrowers using alternative documentation (alt-doc) methods to demonstrate a borrower's ability to repay the loan. An alt-doc loan provides an opportunity for mortgage loan originators to serve more customers and grow their business.
Flexible guidelines and common sense underwriting give opportunity to today's homebuyers and investors.
What Income Documentation is Acceptable for Alt-Doc Loans?
Bank statements
Tax returns
1099 only
Asset depletion
P&L
Who Benefits from Alt-Doc Loans?
Alt-Doc loans benefit a wide range of borrowers. Consider not only business owners looking to finance a property, but those who earn income differently. Alt-Doc loans are a great pathway home for those experiencing a life event like a divorce or change of home in retirement. Income is not required to validate creditworthiness. With flexibility, the doors are open for more homeowners.
Diverse Borrowers
With a CDFI designation, you can tap into an underserved market and simultaneously help to provide equity in homeownership through our community-focused Ally product.
Self-Employed Borrowers
Business owners and entrepreneurs often do not have a W2, making it tough for a traditional lender to verify income. Alt-doc loans provide flexibility.
Contractors & Gig Workers
Multiple 1099s? Alt-Doc loan programs accommodate multiple streams of income in proving their ability to repay.
Real Estate Investors
As an alternative to DSCR or No Ratio financing, investors can use Full or Alt-Doc financing for business purpose loans.
Grow Your Business with the Champs!
We offer a unique product to set you apart from the competition. Access our Non-QM training & marketing resources as a partner today!
There is no shortage of demand in the market for increasingly flexible financing options for responsible borrowers with fluctuating, limited, or no income documentation. Become an approved Broker Partner and start growing your pipeline today.
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