Are you self-employed or a business owner struggling to qualify for a traditional mortgage? Our flexible bank statement qualifying guidelines are designed to help you secure the home of your dreams without the hassle of traditional income verification methods.
Why Choose Bank Statement Mortgages?
Traditional mortgage lenders often require extensive documentation and proof of consistent income, which can be challenging for self-employed individuals or business owners. Our bank statement mortgage program offers a more flexible approach, allowing you to qualify based on your bank statements rather than tax returns or pay stubs.
Flexible Bank Statement Qualifying Guidelines
We offer a variety of options to suit your specific needs:
– 12 or 24 Months Personal or Business Statements: Choose between using 12 or 24 months of personal or business bank statements to demonstrate your income.
– 0-Statements with 12 Month Tax Preparer P&L: If you prefer not to use bank statements, you can qualify with a 12-month Profit & Loss statement prepared by your tax professional.
– Use Up To 90% of Deposits to Qualify with Expense Factor Letter: Maximize your qualifying income by using up to 90% of your deposits, supported by an expense factor letter.
– Flat 50% of Deposits to Qualify: Alternatively, you can opt to use a flat 50% of your deposits to qualify, simplifying the process even further.
– >12 and <24 Months Self-Employed Available Case by Case: If you’ve been self-employed for more than 12 but less than 24 months, we can evaluate your case individually to find the best solution.
– Up to 90% LTV with a 700+ FICO: Enjoy loan-to-value ratios of up to 90% if you have a FICO score of 700 or higher.
– Loan Amounts Up to $5,000,000: Whether you’re looking for a modest home or a luxury property, we offer loan amounts up to $5 million to meet your needs.
How It Works
1. Initial Consultation: Contact us to discuss your financial situation and mortgage needs. Our experienced team will guide you through the available options.
2. Document Submission: Provide the necessary bank statements or P&L statements as per the chosen qualifying method.
3. Income Calculation: We’ll calculate your qualifying income based on the provided documents and the selected guidelines.
4. Loan Approval: Once your income is verified, we’ll proceed with the loan approval process, ensuring a smooth and efficient experience.
Our goal is to make homeownership accessible to everyone, regardless of their employment status or income documentation challenges. With our expertise and commitment to customer satisfaction, you can trust us to help you navigate the mortgage process with ease.
Contact us today to learn more about our flexible bank statement mortgage solutions and take the first step toward securing your new home.
