Our Bank Statement Mortgage program is a solution for self-employed individuals and business owners. Unlike traditional mortgages that rely heavily on personal income verification, this non-QM (non-qualified mortgage) product offers a unique approach by evaluating an average of deposits over 12 months from business or personal accounts. This method accurately reflects a borrower’s financial health, especially for those whose income may not be consistently documented through traditional means.
A Recent Success Story
– Loan Term: 24-month Bank Statement
– Loan Amount: $2.5 million
– Loan-to-Value (LTV): 75%
– Credit Score (FICO): 812
– Debt-to-Income Ratio (DTI): 1%
– Interest Rate: 6.99%
This case highlights the flexibility and accessibility of Bank Statement Mortgages. With a substantial loan amount of $2.5 million and a competitive interest rate of 6.99%, the borrower secured financing with a 75% LTV, demonstrating the product’s ability to cater to high-value properties. The borrower’s strong credit score of 812 and a manageable DTI of 41% further illustrate the viability of this mortgage option for financially responsible individuals.
Why a Bank Statement Mortgage is perfect for self-employed borrowers?
1. Tailored for Self-Employed Borrowers
2. Flexibility in Documentation
3. Potential for Higher Loan Amounts
4. Competitive Rates and Terms
We are experts in providing bank statement mortgages for our unique borrowers. Contact our office for more information about our products.
