Mortgage Equity Partner’s Bank Statement Program is designed for borrowers whose true income is documented by their bank statements. No W2? No Problem. The bank statement program is an alternative lending option for self-employed borrowers. You’ll benefit when personal and business bank statements are reviewed to maximize your qualifying income. Self-employed borrowers can qualify using 50% of the revenue from their last 12 months of deposits in many cases.
Benefits:
- Credit scores starting at 620
- Up to 90% LTV with 720 FICO Score
- 50% DTI for LTV to 85% and 43% DTI for LTV to 90%
- Max Loan Amount is $6,000,000
- Mortgage insurance is not required
- Cash-out is allowed
- Financing for primary and second home and investment properties
There are many self-employed borrowers who have had trouble qualifying for a home loan. The bank statement program is a modern approach to today’s gig worker and self-employed economy. There are additional guidelines for this program. Reach out to us today to see if this program will work for you.
