Our bank statement mortgage program offers flexible and convenient solutions for self-employed borrowers. With this program, you can use up to 85% of your deposits on business statements to qualify for a mortgage.
Program Highlights
- Purchase loans of up to 90% loan-to-value (LTV) for amounts up to $2,000,000.
- Rate/term refinancing with up to 85% LTV.
- Cash-out refinancing with up to 80% LTV.
- Minimum FICO score requirement of 600.
- Loan amounts available up to $4,000,000.
- Asset utilization can be coupled with this program to provide additional income.
- Transfers from business to personal accounts are acceptable.
Qualify Using
- Fixed Expense Factor: We take into account your fixed expenses when determining your eligibility for the mortgage.
- Third Party Prepared P&L: You can provide a third-party prepared profit and loss statement to support your income qualifications.
- Third Party Prepared Expense Statement: Similarly, a third-party prepared expense statement can be used to demonstrate your expenses.
With this bank statement mortgage program, we aim to provide a solution that caters specifically to self-employed individuals. By considering your business deposits and utilizing asset utilization, we can help you secure a mortgage that suits your needs. Whether you’re looking to purchase a new property or refinance an existing one, our flexible terms of 10, 15, 20, 25, or 30-year fixed rates ensure that you have options that fit your financial goals. Additionally, we do not require any reserves, making the process even more convenient for you.
This program is available for primary residences, second homes, and investment properties. So, no matter what your real estate goals are, we are here to assist you every step of the way. Contact us for more information.
