To qualify you must have a credible, verifiable employer for whom you’ve worked at least two years, and you must be a wage earner. (Unfortunately this product line is not available to the  self-employed, but don’t fret, SLG has a full suite of products for our self-employed clients).  

In lieu of tax returns, pay stubs, W2s and Request For Tax Transcripts (4506-C), SLG will request a Verification of Employment from your employer covering a minimum of two (2) years. The VOE will request information such as your start date, position, salary, date of last raise, and a breakdown of your base pay, over-time, bonuses/commissions, etc. 

Your qualifying income will be derived from the information provided by your employer. 

We should also note that you will need Bank Statements to verify the source of your down payment and closing costs. In lieu of Bank Statements we can accept a Verification of Deposit provided by a third party vendor.

Set forth below is a list of additional product guidelines: 

• 620 minimum credit score (all borrowers)
• Maximum debt-to-income ratio of 49% (exceptions considered on a case-by-case basis)
• Mortgage Insurance required on some products
• Down Payments of 3.5% – 35%
• Purchase or refinance
• U.S. Citizens and Permanent Resident Aliens are eligible
• Impounds are required
• Gifts are allowed
• Investment properties are allowed on some products
• Loan Amounts up to $5,000,000 on some programs
• Seller credits and lender credits allowed
• Reserves required on some programs
• Other terms and conditions may apply