Here’s one way to get a mortgage if you are self employed, and don’t show alot of income on your tax returns?
Bank statement loans.
Very simply we take the aggregate deposits of your bank statements (can be personal or business) and use this for your income.
Variables of Bank Statement loans…
24 Months of bank statements.
12 Months of bank statements.
2 Months of bank statements.
1 Month bank statement.
The reason we offer multiple options for months is that sometimes a 12 month average won’t work as good for the borrower as one month.
We offer down payments as low as 10% on owner occupied bank statement programs.
We also offer multiple ways of calculating deposits, which is very helpful if there are issues with one calculation method.
Rates on these programs are usually only modestly higher than normal conforming rates.
If you or someone you know needs a loan like this – shoot our office an email or give us a call and let’s see if we can help you.
That’s it for today!
Have a great day!
Brett
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