12 Month Bank Statement Averaging or 1 Year Taxes or Asset Amortization Loans for Self-employed Business Owners.
No Taxes, w2's or executed 4506T are required.
Must be Self-Employed for the last 2 years.
Realtors are considered self-employed.
3, 5, 7 and 10/1 ARM's, 30 years amortization. Rates from 3.875%.
Owner Occupied and Non-Owner Investment properties, SFR and 1-4’s.
Loan to value up to 80% for a purchase or rate and term refinance to 4M.
LTV up to 70% for a Cash out Refinance to 3.5M.
Interest only payment available. Minimum FICO score is 700.
Qualifying - Using the Borrower’s last 12 primary Personal bank statements, we average thegross deposits, draws and wires from your business and use that as the income to qualify for the loan.
By using the Borrower’s last 12 primary Business bank statements, we average the net deposits, less withdrawals and use that as the income to qualify for the loan. 45% DTI based on deposits and debts on the credit report and with the new mortgage. We need proof of 6-12 months PITIA reserves for the subject property seasoned in the bank for 60 days on Owner Occupied and 12 months reserves on all debt on Non-Owner properties.
This loan is available: Nationwide.