How The Bank Statement Mortgage Changes the Game

There have been a lot of game changers in the mortgage industry, from FHA and HARP to ARMs and HELOCs.  The mortgage industry has changed constantly, but one of the biggest has been The Bank Statement Mortgage from The Home Loan Expert.  How The Bank Statement Mortgage changes the game is by letting self-employed borrowers and small business owners finally prove their income using their bank statements and deposits instead of tax returns.  Finally, a way for entrepreneurs to write off their expenses and still be able to buy a home.

After the mortgage industry collapse in 2008, the federal government came in and rescued Freddie Mac and Fannie Mae.  When they did this, they added new regulations on their lending.  Some of these regulations are good, helping to keep the industry away from the risky loans that caused the issue in the first place.  However, one that has really hurt people is the rule requiring banks and mortgage companies to look at tax returns as income.  This keeps a lot of people from buying the house they want, from doctors and lawyers to web designers and plumbers.  They had trouble proving that they could pay for a home because of write-offs.

Now, we can use your deposits into your bank account, either business or personal, as your income.  You can prove your income before your write-offs, and keep them for taxes.  Write-off whatever you want and keep your business healthy while buying the home of your dreams with The Bank Statement Mortgage.

Call The Home Loan Expert Team in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515, Nashville at (615) 810-8555 or Birmingham, AL at (205)721-7656.  You can always apply online at hero.loan for your VA Loan, and www.thehomeloanexpert.com for your other mortgage needs, and we’re also open on Saturdays and will come to you to help close your loan. We work hard to make it easy on you.  Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?

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