Reduced Documentation Program
No tax returns required on investor or owner-occupied transactions.
Up to $2.5 MM
Up to 30 years
LITE DOC INVESTOR
Best for investors who may not be able to disclose certain financial information or whose properties are more valuable than a tax return might show.
Best for owner-occupied transactions where the business owner has difficulty documenting their income for traditional lenders.
Best for business owners who prefer to prove their income by providing 12 consecutive months of business bank statements instead of tax returns.
Who is eligible?
A major factor that affects eligibility for the Fast Track Program is the state of the property’s title. A clean title for the purposes of this program is one that has:
No tax liens/redemptions
No pending vesting or probate issues
For Stated Owner-Occupied Program: Guarantor(s) are not required to provide personal or business tax returns to qualify for this program. Guarantor(s) may be eligible for a different loan program with more favorable terms if verifiable documentation such as personal and/or business tax returns are provided.
A deal is likely to be ineligible for our program if it contains the following:
Liens/judgments on subject property
IRS or real estate back taxes
Confirmed deferred maintenance
Existing title issues
Substantial seller issues
These are just general eligibility rules – for more information regarding specific deal factors, be sure to consult with a Beacon Loan Officer.