SELF-EMPLOYED IN THE CANNABIS INDUSTRY?
WE HAVE MORE REASONS TO SAY YES.
* Instead of the traditional credit score model for most bank programs, we perform our own comprehensive review of the applicant's complete credit profile and background.
* Escrow accounts not required, unless the home being financed is located in a FEMA-designated Flood Zone.
Minimum Down Payment
Minimum Down Payment to avoid PMI
PMI (Private Mortgage Insurance)
Choice of Qualifying via either:
Income Tax Returns OR
Bank Statement Deposit Income »
Minimum mid-credit score
Min/ Max Loan Amount
$100,000 - $3MM
Loan Repayment Terms
30 Year Fixed Rate / 5/1 ARM / 7/1 ARM
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 for Property Taxes and Home Insurance required
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
We also accept 1099 Independent contractors for Cannabis and hemp based businesses. (Must be working for the same business for at least 2 years or longer)
At a Glance
DID YOU KNOW?
WE OFFER 4 DIFFERENT PROGRAMS THAT ACCEPT CANNABIS INDUSTRY BUSINESS OWNERS, CONTRACTORS AND EMPLOYEES.
This program was designed for SELF-EMPLOYED CANNABIS BUSINESS OWNERS using Tax Returns and/or Asset-based Lending.
YES! Our BANK STATMENT LOAN PROGRAM accepts CANNABIS Businesses. If you are not showing sufficient income on your tax returns, but your business deposits show a different picture, then be sure to check out this program.
If you are a W2 WAGE EARNER, we accept Cannabis Industry Employees for Conventional Home Loans with as little as a 3% down payment.
NOTE: This option is ONLY for W2 Employees who DO NOT OWN any part of the Cannabis business itself.
If you are a 1099 WAGE EARNER or INDPENDENT CONTRACTOR IN THE CANNABIS INDUSTRY working at the same company for at least 24 months or longer, you can buy a home with as little as a 10% down payment.