Are you self-employed? Do you take in income to show your ability to repay a mortgage loan but don’t have the ability of providing tax returns that show it? Then the bank statement program may be the right loan option for you.
Bank Statement Program Highlights
- No tax returns required
- 12 month personal bank statements
- 24 month business bank statements
- Loans up to $3 million
- Credit scores down to 600
- Rates starting in the 4’s
- Up to 90% LTV on Personal and Business with no MI
- DTI up to 50% considered
- Owner-occupied, 2nd homes and investment properties
- 2 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
- Jumbo loans down to 600 score
- 5/1 ARM or 30-year fixed
- No pre-payment penalty for owner-occ and 2nd homes
- Seller concessions to 6% (2% for investment)
- 2 year self-employed required
Solutions for Self Employed Borrowers
Still have questions about the Bank Statement Program?
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