Leverage your self-employed borrowers bank statements into a mortgage loan
- Personal Bank Statement Programs
- Business Bank Statement Programs
- No Tax Returns Required
- No Transcripts Required
We offer three bank statement program options
Option One: 12 months Personal Bank Statement ProgramQualifying income:
-100% of deposits, not including transfers from other personal accounts, averaged over 12-month period.
Option Two: 24 months personal bank statement programQualifying income:
-100% of deposits, not including transfers from other personal accounts, averaged over a 24-month period.
Option Three: 24 months business bank statement programQualifying income is the lower of the following:
- Monthly net income from the P&L
- Income indicated on the initial signed 1003
- The P&L can be prepared by the borrower or a license tax preparer and should cover the same 2-year period as the bank statements – it should be signed and dated.
- The monthly gross revenue from P&L must be supported by the business bank statements provided. Total monthly average deposits per bank statements (minus any disallowed deposits) must be within 10% of monthly gross revenue reflected on the P&L.