Bank Statement Program
Created for self-employed borrowers to purchase or refinance. Since tax returns are not required, this could be a great option for credit worthy self-employed homebuyers!
- Up to 90% LTV
- Credit scores starting at 600
- Two years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
- No tax returns required
- Loans up to $3 million
- Two years self-employed required
- 1099 option available
- 40 year fixed rate interest only available
- Purchase and cash-out or rate-term refinance
- 12 or 24 months business bank statements (must own at least 50% of the business)
- 12 or 24 months personal bank statements (must own at least 25% of the business)
- Owner-occupied, second homes and non-owner occupied
- Non-warrantable condos OK
Our 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.