Arc Home Wholesale ALERT – Alt Income Enhancements for Arc Access & Arc Elite

Arc Home is excited to announce Alt Income guideline expansions for the Arc Access Non-QM and Arc Elite QM programs, effective for loans registered on or after March 27, 2023. Our systems are being updated accordingly.

The Arc Access Alt Income program has been expanded to offer a NEW alternative income documentation option for qualifying self-employed borrowers – a 12-month CPA Prepared P&L Statement. This Alt Income option is available as follows:

·         Minimum 660 credit score, up to 90% LTV for Purchase and Rate/Term, loan amount up to $3.0mm

For complete eligibility and documentation details, review the new Arc Access Alt Income – Bank Statement, 1099, One Year Full Doc, CPA P&L matrix HERE or contact your Arc Home Account Executive.

The Arc Access Non-QM and Arc Elite QM program guidelines have been enhanced to allow a Written Verification of Employment (WVOE) in lieu of a YTD paystub and prior year W-2 for wage earner borrowers qualifying on the One Year Full Doc program. The WVOE must include year-to-date earnings and prior year income information.

For complete eligibility and documentation details, review the Arc Access Alt Income – Bank Statement, 1099, One Year Full Doc, CPA P&L, Arc Access Clean Slate, or Arc Elite Alt Income – Bank Statement, 1099, One Year Full Doc matrices HERE or contact your Arc Home Account Executive.