Many times, when self-employed people or business owners try to buy a home, they end up rejected for the amount that they feel they can afford because they are forced to write off too much of their income to run their business properly. It’s a real issue, and unless they have another way to prove revenue or a spouse with a W2, it can be impossible. That’s why we created the Bank Statement Mortgage.
The Bank Statement Mortgage is designed to give self-employed borrowers and business owners a chance to buy a home using their REAL income – the money that comes int their bank account. Instead of just using your W2’s for income verification, we use your bank statements to prove your income, letting your true income show and getting you the home that you deserve.
Check out the highlights of our Bank Statement Mortgage:
- No Tax Returns or Tax Transcripts required ever
- Income is calculated using average deposits in your bank account
- 12 or 24 months Personal Bank Statements
- 24 Months Business Bank Statements
- Purchase a new home with as little as 10% Down
- Rate and Term Refinance up to 90% of your home’s value
- Cash out Refinance up to 85% of your home’s value
- Loan amounts from $100,000 up to $2.5 Million
- Debt to Income Ratios up to 55%
- Adjustable and Fixed Rate Options Available
- Interest Only Options Available
- Must be Self Employed for 2+ years
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?