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A bank statement loan might be your best solution if you’re a business owner looking to buy or refinance a home. When you’re self-employed you do your best to take full advantage of the tax write-offs you’re entitled to. Your bank statements are collected from a 12-24 time period and deposits are added and averaged to determine your eligibility
● Must be 18 years or older
● U.S. Citizens
● Green Card Holders (non U.S. Citizen)
● H-1B Visa & EAD Card Holders (non U.S. Citizen)
| CRITERIA | LOAN DETAILS |
|---|---|
| CREDIT | As low as 640 |
| DOWN PAYMENT | 20% - 30% |
| OCCUPANCY | Primary, Secondary, or Investment |
| TERMS | 30 Yr Fixed / 5 YR Arm |
| TRANSACTIONS | Purchase, Refinance Rate & Term, or Refinance Cash-Out |
| ELIGIBLE PROPERTIES | SFR, Condos, and 1-4 Units |
| MINIMUM LOAN AMOUNT | $100k |
| MAXIMUM LOAN AMOUNT | $5 Million |
| LTV | Up to 90% |
| APPRAISAL REQUIRED | Yes |
| BANK STATEMENTS | 6, 12, or 24 Month Bank Statement. Personal or Business. |
| CLOSING TIME | 30 DAYS |
| EMPLOYMENT | Must be self-employed for 2 years |
| RESERVES | 6 Months |
| PRE-PAYMENT PENALTY | Only applies to investments only |
| HOUSING HISTORY | 0x12 |
| GIFT FUNDS | Allowed for down payment or closing |
| ELIGIBLE BORROWERS | Us Citizens and Permanent Residents |
A bank statement loan might be your best solution if you’re a business owner looking to buy or refinance a home. When you’re self-employed you do your best to take full advantage of the tax write-offs you’re entitled to. Your bank statements are collected from a 12-24 time period and deposits are added and averaged to determine your eligibility
● Must be 18 years or older
● U.S. Citizens
● Green Card Holders (non U.S. Citizen)
● H-1B Visa & EAD Card Holders (non U.S. Citizen)
| CRITERIA | LOAN DETAILS |
|---|---|
| CREDIT | As low as 640 |
| DOWN PAYMENT | 20% - 30% |
| OCCUPANCY | Primary, Secondary, or Investment |
| TERMS | 30 Yr Fixed / 5 YR Arm |
| TRANSACTIONS | Purchase, Refinance Rate & Term, or Refinance Cash-Out |
| ELIGIBLE PROPERTIES | SFR, Condos, and 1-4 Units |
| MINIMUM LOAN AMOUNT | $100k |
| MAXIMUM LOAN AMOUNT | $5 Million |
| LTV | Up to 90% |
| APPRAISAL REQUIRED | Yes |
| BANK STATEMENTS | 6, 12, or 24 Month Bank Statement. Personal or Business. |
| CLOSING TIME | 30 DAYS |
| EMPLOYMENT | Must be self-employed for 2 years |
| RESERVES | 6 Months |
| PRE-PAYMENT PENALTY | Only applies to investments only |
| HOUSING HISTORY | 0x12 |
| GIFT FUNDS | Allowed for down payment or closing |
| ELIGIBLE BORROWERS | Us Citizens and Permanent Residents |
