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What are Alternate Credit and Income Loans?

Alternate credit/income loans are for borrowers and properties that do not fit into traditional lending guidelines.  For example, the loan programs designed for borrowers that have had recent short sales, bankruptcies, and foreclosures.  In addition, income alternatives are allowed. Borrowers can provide 12 and 24-month bank statements as income. Furthermore, investors have an option too, no income loans. The loan is based on the cash flow of the property.  Also, borrowers with assets but no income have an asset depletion calculation as income to qualify.

CharterStone Mortgage offers many programs from various sources. In comparison, other competitors may have just one option for a program. For Example, 12 and 24-month bank statements as income.   We have multiple sources and most competitors have one. More sources with varying guidelines provide more opportunity for approval.  As a result, we can find a program that will fit the unique circumstances for each borrower’s needs. Consequently, we receive more approvals and closings.

 Before considering the Alternate Credit/Income programs, call us to review the FHA home loan.


Programs Available

  • Recent Credit Events
  • Bank Statement Programs
  • No Income Investor Loans
  • Asset Depletion as Income


Odd Property Types

Property types such as condo-hotels and properties that are not eligible for traditional financing. Under those circumstances, financing may be obtained through CharterStone Mortgage, please call us to discuss.


Foreign National Borrowers 

Citizens of other countries living and working abroad or living in the U.S. that do not meet the traditional guidelines are referred to as foreign nationals.  Namely, Foreign National loans are available. Specifically, each country of origin may have specific terms and guidelines. As a result, it is best to contact us to discuss the specifics. There are several loan programs available. We finance primary, vacation and investment properties.


Working with CharterStone Mortgage

Digital Application and Remote Online Closings

Lock Your Rate and Shop for Your Dream Home

Lower Rates and Fees

Experienced Loan Advisors

Reduced PMI Rates

Fast Closings

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