SELF-EMPLOYED?

WE HAVE MORE REASONS TO SAY YES.

BANK STATEMENT

HOME LOANS

THE BUSINESS OWNER'S SECRET WEAPON. FINANCE YOUR DREAM HOME USING THE DEPOSIT INCOME FROM YOUR BUSINESS BANK STATEMENTS INSTEAD OF TAX RETURNS.

As a business owner, you work hard, and you deserve to buy your dream home, just like anyone else.

Unfortunately, most banks and credit unions are unable to see your type of income in the same way you do. They are required to use the taxable portion of the income on your tax returns.

If you're like most successful business owners, you pay tax professionals to keep your tax burden as low as possible. This is a great strategy...until you try to apply for a traditional home loan.

...But it's no longer a problem, because now you've discovered our Bank Statement Loan Program.

Using our Bank Statement Mortgage, we count the income that runs through your business bank statements, instead of using your tax returns. This approach gives us a more accurate portrayal of your business' true profitability versus the tax return approach.

Other than the income calculation approach, you'll find that our Bank Statement loan program works like every other traditional mortgage you may have experienced.

In fact, it has some added flexibility that you won't find in traditional mortgages. There is no PMI, and best of all, there are no prepayment penalties.

Many of our clients use this program to buy their dream home and later decide to refinance it into a traditional loan once they and their tax advisors determine the optimal time.

Essentially, the Bank Statement Loan program allows you to take control and buy a home on your terms.

We are proud to support American business owners. We believe in keeping things simple, which is why we provide educational resources and our decades of experience, so you can finance with confidence.

We are your trusted leader in Bank Statement Home Loan financing.

Give us a call today to discuss your scenario and find out how we can make homeownership possible for you!

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👉 KEY PROGRAM HIGHLIGHTS:

Ideal for Self-Employed Applicants, who do not qualify for a traditional mortgage because they do not "show enough income" on their Federal income tax returns
No Tax Returns needed to qualify.
Qualify on the deposit income income calculated from the business' bank statements
Applicants must be in business for a minimum of 2 years. (we may also accept 1 year self-employment, as long as the applicant can demonstrate a work history in the same line of work as their business)
Additional Loan Features »

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🚀 WHO IS THE IDEAL CANDIDATE FOR A BANK STATEMENT LOAN?

Self-Employed applicants with well-performing businesses that have experienced difficulty obtaining a traditional mortgage due to complications arising from tax return analysis.

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Are you a 1099 Employee or Independent Contractor? Did you know that there is a program designed for your type of income?

Check out our 1099 INCOME PROGRAM.

⚙️ HOW DOES A BANK STATEMENT LOAN WORK?

Here's how income is calculated on a Bank Statement Loan:

1. We review the most recent 12-24 months of your business bank statements, counting all of the ordinary business deposits. These are your GROSS DEPOSITS.

2. Divide the GROSS DEPOSITS by the number of total bank statements being reviewed. (12 or 24) This is called MONTHLY GROSS INCOME.

3. Multiply the MONTHLY GROSS INCOME x THE BUSINESS OWNER'S PERCENTAGE OF OWNERSHIP (%) in the business.

4. Multiply this number an EXPENSE FACTOR. We offer two ways to determine business expenses:

OPTION 1

BUSINESS NARRATIVE ANALYSIS:

Complete a short business narrative form, explaining your type of business (goods, services or both), industry, number of employees, etc.

Depending on your type of business, we will apply an expense ratio ranging from 15% to 85%.

OPTION 2

EXPENSE RATIO PROVIDED BY A LICENSED TAX PROFESSIONAL

Your tax professional provides a letter specifying the business's current expense ratio as a percentage of the gross annual sales / revenue.

The lowest acceptable expense ratio is 15%, regardless of the ratio specified in the letter.

FINAL INCOME USED FOR INCOME QUALIFICATION

We are committed to transparency. Here is more information about the program. If you have additional questions, we are delighted to assist!

BASED ON NEW APPROVAL GUIDELINES
(effective 12/05/2023)

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Minimum Down Payment

10% - for loan sizes ranging from $125,000 - $3MM

FICO of 740+

Reserves:

6 months up to $1MM loan size
9 months up to $2MM loan size
12 months up to $3MM loan size

15% - for loan sizes ranging from $125,000 - $3MM

FICO of 700+

Reserves:

3 months up to $1MM loan size
6 months up to $2MM loan size
9 months up to $3MM loan size)

PMI (Private Mortgage Insurance)

None

Minimum mid-credit score

575
(LTV will vary, see loan originator for details)

Min/ Max Loan Amount

$150,000 - $3MM

Loan Repayment Terms

30 years

Amortization

30 Year Fixed Rate / 5/1 ARM / 7/1 ARM

Prepayment Penalties

None for Owner-Occupied Homes or Second Homes.

Investment properties Only - 6 months interest on 80% of the original principal balance

Recent Housing Events

Min 24 months - OR-1 day minimum (See Loan Originator for details)

Max Seller Contributions

6% for Owner-Occupied or Second Homes

2% for Investment Homes

Escrows

Escrows for Property Taxes and Home Insurance required

Occupancy

Primary Residence / Second/Vacation Home / Investment

Acceptable Property Types

Single Family, Townhome/ Villa/ Condominium/ Condotel or Non-Warrantable Condominium

UNACCEPTABLE Property Types

Manufactured Homes, Modular Homes, Mobile Homes, Raw Land, Condotels, Log Homes, Dome Homes, Tiny Homes, Commercial Mixed-Use

Other

Yes! We accept income from legal Cannabis-based businesses. 🌿

If you are a business owner, we'd love the opportunity to answer all of your questions and review your options and see if this is the right loan program for you.

Remember, stop letting these banks tell you NO, when we have more reasons to say YES.

This is not a commitment to lend. Not all borrowers will qualify for the loan programs listed. All program terms and conditions are subject to change and may be discontinued without prior notice. Contact loan originator for program questions and scenarios.

CALL TODAY:
(813) 928-9610

CLICK TO CALL TODAY:
(813) 928-9610

CALL TODAY:
(813) 928-9610

BANK STATEMENT

THE BUSINESS OWNER'S SECRET WEAPON. FINANCE YOUR DREAM HOME USING THE DEPOSIT INCOME FROM YOUR BUSINESS BANK STATEMENTS INSTEAD OF TAX RETURNS.

______________________________________________

👉 KEY PROGRAM HIGHLIGHTS:

Ideal for Self-Employed Applicants, who do not qualify for a traditional mortgage because they do not "show enough income" on their Federal income tax returns

No Tax Returns needed to qualify.

Qualify on the deposit income income calculated from the business' bank statements

Applicants must be in business for a minimum of 2 years. (we may also accept 1 year self-employment, as long as the applicant can demonstrate a work history in the same line of work as their business)

⚙️ HOW DOES A BANK STATEMENT LOAN WORK?

CALL TODAY:
(813) 928-9610

CALL TODAY:(813) 928-9610

BANK STATEMENT

THE BUSINESS OWNER'S SECRET WEAPON. FINANCE YOUR DREAM HOME USING THE DEPOSIT INCOME FROM YOUR BUSINESS BANK STATEMENTS INSTEAD OF TAX RETURNS.

______________________________________________

👉 KEY PROGRAM HIGHLIGHTS:

Ideal for Self-Employed Applicants, who do not qualify for a traditional mortgage because they do not "show enough income" on their Federal income tax returns

No Tax Returns needed to qualify.

Qualify on the deposit income income calculated from the business' bank statements

Applicants must be in business for a minimum of 2 years. (we may also accept 1 year self-employment, as long as the applicant can demonstrate a work history in the same line of work as their business)

⚙️ HOW DOES A BANK STATEMENT LOAN WORK?

CALL TODAY:(813) 928-9610

CALL TODAY:
(813) 928-9610

CALL TODAY:
(813) 928-9610