Bank Statement Loans for Self-Employed Borrowers

Bank Statement loans are often a great mortgage option for eligible self-employed borrowers… This program uses the borrower’s personal or business bank statements to help calculate their income without requiring tax returns and W-2s. A bank statement loan is a relatively new loan for the self-employed borrower. The most common borrower that benefits from the bank statement loan is a self-employed borrower. 

• 10% Down Payment for purchases and 90% LTV for refinances.
• 15% Down up to $3,000,000 Loan Amounts.
• Minimum Loan Amount $200,000.
• Purchase or Refinance and Cash-out.
• Primary residence and second homes only.
• No PMI
• Up to 50% DTI
• 30-Year Fixed or ARM Rates.
• 3, 12, and 24 Month Bank Statements options.
• Personal or Business Bank Statements or 1099’s.
• Must be Self Employed for at least 2 years.
• No tax return requirements or filing are required.
• No Income Verification Loans are available for Investors.
• No Income Verification Loans for Primary Residences & Second Homes.

Personal bank statement loans

Qualify on 12 or 24 months personal bank statements. We count 100% of deposits as income.

Business bank statement loans

Qualify on 12 or 24 months business bank statements. We count 50% of deposits as income or more with a CPA expense ratio letter.

Another option is that if the co-borrower is a W2 employee you can use a hybrid of W2 and tax return income from the co-borrower and bank statement income from the borrower or assets from the co-borrower and bank statements from the borrower. Non-QM loans can use multiple sources of blended incomes to qualify.

1099 Income Loans

Our 1099 income loan option is for underserved self-employed borrowers who are 1099 workers. 1099 as income loan is an alternative loan solution that helps many self-employed 1099 earners achieve homeownership by using the income on your 1099 without the need to see your tax returns.

P&L Profit & Loss Statement Loans

1-Year Profit and Loss (P&L) Statement as income, which often provides a more accurate portrait of the applicant’s true income profile.

Asset-Based Loans / Asset Depletion Loans

 An asset-based loan or Asset depletion loan uses assets as income. Whether you are a retiree with a small fixed income, a new business, or an established company that needs to maintain a high cash flow, the ease, and the benefits of an asset-based loan have made them a popular solution for borrowers in recent years. Leverage your Assets for a Property Purchase or Refinancing without pledging, transferring, or establishing a new depository relationship.

10% Down Jumbo Bank Statement Loans to $2,000,000

15% Down Jumbo Bank Statement Mortgage to $3,000,000

We know the Jumbo Mortgage Bank statement  Business call us at (877) 424-4562

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