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REQUIRED ITEMS FOR SELF-EMPLOYED BORROWERS

REQUIRED ITEMS FOR SELF-EMPLOYED BORROWERS

1 YEARS PROFIT AND LOSS STATEMENT PROGRAM

  • Up to 80% LTV on purchase
  • Minimum 700 FICO score
  • Loan amounts up to $2M
  • Requires 2 months bank statements
  • 25% ownership of business
  • required P&L must be prepared and signed by verified CPA/EA/CTEC/Tax Attorney
  • Primary residences only

1099 PROGRAM

  • Borrower must be 1099 only – no tax returns required
  • 10% expense factor used
    Up to 90% LTV
  • Loans up $3M
  • Two-year history of 1099 required
  • First Time Homebuyers welcomed

BANK STATEMENT LOAN PROGRAM

  • 12 or 24-month business, or personal bank statements
  • Up to 90% LTV no MI
  • Variable expense factor used, resulting in more qualifying income
  • Loans up $3M
  • Owner-Occupied, 2nd home and investment properties
  • Interest-only available
  • 2 years self-employed required

FOREIGN NATIONAL PROGRAM

  • Up to 75% LTV
  • Full documentation, bank statement, Asset Qualifier or DSCR program
  • Gift funds accepted
  • Loan amounts up to $3M
  • SFR, 2-4 unit, and condos
  • Condotels allowed
  • Second home and investment properties only

DSCR PROGRAM

  • Qualification based on property cash flow
  • Credit scores starting at 660
  • No personal income / no employment needed o Up to 85% LTV
  • 40 year fixed rate interest only available
  • Loans up to $3 million
  • No limit on total number of properties
  • Purchase and cash-out or rate-term refinance
  • Properties can be in LLC’s name
  • Non-warrantable condos allowed
  • Short term rentals allowed

CLICK HERE FOR DSCR PRELIMINARY REFINANCE QUESTIONAIRE FOR

Any person applying for a mortgage loan must have a Physical Drivers License or a Government Issued Identification and a  physical Social Security Card

DISCLAIMER: Each lending scenario (Loan product) may differ. For a definitive needs list please inquire for specifics.

1 YEARS PROFIT AND LOSS STATEMENT PROGRAM
  • Up to 80% LTV on purchase
  • Minimum 700 FICO score
  • Loan amounts up to $2M
  • Requires 2 months bank statements
  • 25% ownership of business
  • required P&L must be prepared and signed by verified CPA/EA/CTEC/Tax Attorney
  • Primary residences only
  • Borrower must be 1099 only – no tax returns required
  • 10% expense factor used
    Up to 90% LTV
  • Loans up $3M
  • Two-year history of 1099 required
  • First Time Homebuyers welcomed
  • 12 or 24-month business, or personal bank statements
  • Up to 90% LTV no MI
  • Variable expense factor used, resulting in more qualifying income
  • Loans up $3M
  • Owner-Occupied, 2nd home and investment properties
  • Interest-only available
  • 2 years self-employed required
  • Up to 75% LTV
  • Full documentation, bank statement, Asset Qualifier or DSCR program
  • Gift funds accepted
  • Loan amounts up to $3M
  • SFR, 2-4 unit, and condos
  • Condotels allowed
  • Second home and investment properties only
  • Qualification based on property cash flow
  • Credit scores starting at 660
  • No personal income / no employment needed o Up to 85% LTV
  • 40 year fixed rate interest only available
  • Loans up to $3 million
  • No limit on total number of properties
  • Purchase and cash-out or rate-term refinance
  • Properties can be in LLC’s name
  • Non-warrantable condos allowed
  • Short term rentals allowed