Our Bank Statement program was created to help self-employed people purchase a home easily and quickly. After all, according to the Bureau of Labor Statistics, about 16 million Americans are self-employed accounting for 30% of all employees in the U.S. That’s a lot of potential homebuyers!
Tax returns are not required and buyers no longer have to own 100% of a business. These are a few reasons why our Bank Statement program is one of our most utilized loan solutions for self-employed people. These buyers may not have credit issues and oftentimes are interested in purchasing higher-priced homes. The only challenge is the income that is stated on their W-2s due to write-offs.
The solution is a Bank Statement loan that can be efficient and quick to close.
- Borrowers can own as little as 25% of the business with personal bank statements
- Borrowers can own as little as 50% of the business with business bank statements
- 1099 borrowers can qualify
- No tax returns required
- 12 or 24 months business and personal bank statements
- Loans up to $3 million
- 2 years self-employed required