Bank Statement Mortgages
Bank Statement mortgage program is the perfect option for self-employed borrowers who need an alternative method to show the true cash flow of their business. Borrowers do not have to own 100% of the business. Self-employed borrowers represent an underserved market in the mortgage industry. Our Bank Statement program provides a loan solution to help underserved credit-worthy self-employed borrowers who otherwise would not qualify for a home loan
Benefits
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Loans up to $3 million with a minimum of $150,000
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12 or 24 months business or personal bank statements
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Two years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
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Two years self-employed required
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Borrowers can own as little as 50% of the business for business bank statements and 25% for personal bank statements
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Purchase and cash-out or rate-term refinance
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Owner-occupied, second homes, and non-owner occupied
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Most loans will be qualified on an expense factor of 50%. Companies with a lower expense factor will require a statement from a third party CPA or tax preparer. (Some industries with traditionally higher expense factors will be underwritten with a 70% expense factor.)
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Non-warrantable condos allowed
See If You Qualify
Fill out this short 3-step form and receive a Detailed Information Sheet on the rate and terms we can provide you. There is no obligation. We can provide a pre-approval letter if you are approved and need one.