Mortgage for self-employed.

July 23, 2017 | Posted by: Alex Vinarski

We have new lending program that use income from deposits to Business Bank account, not net income from tax return.
Program can be used for purchase or refincing.
Documentation required:
-Recent NOA to show no taxes owing
-Confirmation of 2+ years Business For Self (business license, registration, articles of incorporation, etc)
-12 months business bank statements. We add up the deposits over the last 12 months and use a percentage of it as qualifying income (max 75% can be used).
Rates around 3.5%-4%, no fee for clients with decent credit, minimum down payment 20%.
This program also works for rental properties with slightly higher rate 4.25%-4.5%, and down payment 25% minimum.

Back to Main Blog Page

Share This Page On: