We are revolutionizing the way self-employed individuals purchase homes or refinance properties. Our innovative approach, which requires only 3 months’ worth of bank statements for qualification, opens doors to homeownership and refinancing opportunities for self-employed individuals and creditworthy borrowers with unique financial profiles.
The Power of 3 Months’ Bank Statements:
Mortgage lenders often rely heavily on tax returns, pay stubs, and other income documentation. However, these requirements can pose a problem for self-employed individuals, those with irregular income, or those who are in the process of rebuilding their financial history.
With just 3 months’ bank statements, borrowers can showcase their income, expenses, and financial management skills, providing a more holistic view of their financial health. This approach not only simplifies the application process but also widens the scope of eligibility, making homeownership and property refinancing accessible to a broader audience.
Qualifications for the Program:
To take advantage of the 3 Months Bank Statement program, several key qualifications apply:
- Credit Score: A credit score of 740 or higher is required.
- Down Payment: For property purchases, a minimum down payment of 25% is necessary. In the case of cash-out refinances, the maximum loan-to-value (LTV) is set at 70%.
Property purchase with 3 Months’ Bank Statements:
With the required 25% down payment, we can qualify you for a mortgage by averaging your 3 months’ worth of deposits, that’s how we derive income.
Refinancing Your Property with 3 Months’ Bank Statements:
For those looking to refinance either for cash out or rate and term purposes a 70% LTV is required for cash-out refinances.
Contact us for more information about our bank statement programs.
