Mortgage Loan For Self-Employed & 1099 Borrowers Using Bank Statements
Bank Statement mortgage is the perfect option for self-employed/1099 borrowers who qualify based on bank statement instead of tax return. Borrowers do not have to own 100% of the business. Our Bank Statement program provides a loan solution to help underserved credit-worthy self-employed borrowers who otherwise would not qualify for a home loan. We also have 1099 income loan option is for self-employed borrowers who are 1099 workers. Many freelancers, contractors, gig economy workers or other self-employed borrowers who file using W-9s cannot qualify for a mortgage under Agency guidelines. see the FLYER
- Loans up to $3 million with a minimum of $150,000
- 12 or 24 months business or personal bank statements
- Two years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
- Rates are 30-year fixed
- Two years self-employed required
- 700 FICO needed for 10% down (20% down for less than 700 FICO)
- Tax return is not needed.
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