5-Star Google Review for Brightwire:

Five Stars
“My loan was cleared for closing in only 12 days and I skipped two payments.
The whole process could not have gone any smoother/better!” - Teaneck Resident

Why should I choose a non-traditional loan?

If you are paid in cash (restaurant server, landscaper, hair stylist, massage therapist), a non-traditional loan may be your only loan option available. Alternatively, if you recently retired and have several million dollars in savings but do not have a recurring monthly income source, a non-traditional loan may be the right fit for your new mortgage.


Brightwire also offers programs that exclude W2’s and tax returns from income calculations in case you have a tax professional that is aggressive with tax write-offs.


The reason to choose a non-traditional loan is that it will likely be the most affordable option available for borrowers that cannot qualify for a traditional conventional loan.


How do I qualify for a non-traditional loan?

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  • 10% or higher down payment.
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  • Credit score of 620 or higher.
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  • Bank statements for the most recent 12 or 24 months for both your personal and/or business account.
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  • 1099’s from the last 2 years.
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  • CPA letter showing your current year profit and loss (only required in special cases)
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  • At least two years working in the same industry (even if you are self-employed for less than 2 years).
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    What else should I know about non-traditional mortgage loans?

  • Interest rates will generally be higher than conventional or other loan programs.
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  • Non-traditional mortgage loans are available for both purchases and refinances.
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  • Down payment requirements will be greater with non-traditional mortgages with a minimum of 10% down available to borrowers with excellent credit scores.
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  • There are no prepayment penalties for primary residence purchases.
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