Alt-Doc One-Time Close Construction Loans for Self-Employed & Non-Traditional Borrowers

At Northeast Financial, we know that not every borrower fits neatly into traditional mortgage guidelines. That’s why we’re excited to introduce our new Alt-Doc One-Time Close Construction Loan — designed specifically for borrowers who want to build a home but rely on non-traditional income documentation to qualify.

Who Is This Loan Designed For?

This program is built for borrowers who may not show enough income on W-2s or tax returns, but have strong financial profiles. If you’re:

• Self-employed and rely on business or personal bank statements to show income

• An entrepreneur who can provide an accountant-prepared Profit & Loss statement instead of standard tax returns

• A borrower with significant assets who wants to use them to qualify for income (asset utilization strategy)

• Someone who doesn’t fit the “cookie cutter” mold of traditional lending but has the credit and resources to build

— this loan may be the perfect solution.

Key Benefits of the Non-QM One-Time Close Loan

• Single Closing Convenience – Finance both the construction and permanent mortgage in one seamless process.

• Alternative Documentation Options – Qualify with bank statements, CPA-prepared P&L, or assets instead of tax returns.

• Flexible Down Payment Options – Put down as little as 20%, depending on your qualifications.

• Credit-Friendly – Available for borrowers with credit scores of 700+.

• Higher Loan Amounts – Borrow up to $2.5 million for your project.

• Primary or Second Home Eligible – Perfect for your main residence or a vacation home.

• Interest-Only Payments During Construction – Helps keep cash flow manageable until the home is complete.

Why This Matters

Many self-employed borrowers and professionals are turned away from traditional lenders simply because their income doesn’t show up the “right way” on paper. This loan is designed to recognize your real financial strength, giving you the freedom to build the home you’ve envisioned.

Why Work with Northeast Financial?

As a mortgage broker, Northeast Financial brings access to a wide range of lending solutions — and the experience to guide you through every step. With this new one-time close construction loan, we can help you unlock financing that traditional lenders often can’t.

Frequently Asked Questions (FAQ)

Q: What types of income documentation can I use to qualify?
A: You can use 24 months of personal or business bank statements, accountant-prepared Profit & Loss (P&L) statements, or asset utilization instead of traditional W-2s or tax returns.

Q: How much do I need for a down payment?
A: Depending on qualifications, down payments can be as low as 20%.

Q: Can I use this loan for a vacation home?
A: Yes — this program is available for both primary residences and second homes.

Q: What’s the minimum credit score required?
A: A credit score of 700 or higher is required.

Q: What is the maximum loan amount available?
A: Loan amounts are available up to $2.5 million, depending on documentation type and occupancy.

Q: How long is the construction period?
A: The construction term is up to 12 months interest-only, followed by conversion to a permanent 15-, 20-, or 30-year mortgage.

📞 Thinking about building your next home? Contact Northeast Financial today at 844-788-7237 or email [email protected] to see how we can help make it happen.

Call: (844) 788-7237

Email: [email protected]

NMLS# 117273