Minimize Down on the Paperwork With Our One-Web page Financial institution Assertion Program!
Mortgages are infamous for requiring a ton of paperwork. Whenever you get into non-QM loans, the documentation necessities can get complicated. In case you are a self-employed borrower taking a look at non-QM mortgage choices, we’ve a manner so that you can scale back the paperwork, say goodbye to the confusion, and nonetheless get the financing you want!
At MortgageDepot, we’re happy to share our One-Web page Financial institution Assertion program with our valued shoppers. This program gives a financing choice to debtors who won’t qualify for different Financial institution Assertion program situations.
Financial institution Assertion Applications: A Transient Rundown
Financial institution Assertion packages are meant to satisfy the wants of self-employed debtors, seasonal staff, or different debtors with nontraditional revenue streams. They don’t require the in depth tax documentation that different mortgage packages demand. As a substitute, they base your eligibility in your financial institution statements and your revenue and loss (P&L) assertion.
There are a number of methods debtors can use Financial institution Assertion packages to their benefit. A borrower can qualify for a Financial institution Assertion mortgage by utilizing:
- A P&L assertion as the first monetary documentation.
- Private financial institution statements from the previous 12 months.
- Enterprise financial institution statements from the previous 12 months.
One-Web page Financial institution Assertion Program Highlights
Our One-Web page Financial institution Assertion Program streamlines the mortgage course of for nontraditional debtors. Right here’s what you could learn about this path to actual property success:
- Our One-Web page Financial institution Assertion program makes use of the primary web page of the enterprise financial institution assertion, which displays your organization’s P&L, to qualify for a mortgage.
- A 12- or 24-month P&L assertion is suitable.
- Your loan-to-value (LTV) ratio might be as much as 90% for actual property purchases.
- Your LTV might be as much as 80% for cash-out refinance
- Mortgage quantities of as much as $4 million can be found by way of our One-Web page Financial institution Assertion program.
- Debtors can qualify for a mortgage with a debt-to-income ratio (DTI) of as much as 50%.
- At the least 50% possession within the enterprise is required to qualify.
- Debtors can affirm eligibility with solely the P&L assertion. There’s no must dig by way of your data to offer months price of enterprise and private financial institution statements to show which you could deal with the mortgage!
Contact MortgageDepot Right this moment!
Are you bored with being shut out of the true property market just because your revenue stream doesn’t appear to be it “ought to?” At MortgageDepot, we perceive that simply since you don’t have a nine-to-five job, it doesn’t imply you don’t deserve a mortgage! Contact MortgageDepot at this time to study extra about our non-QM choices, together with our modern One-Web page Financial institution Assertion program!
Join with one in every of our mortgage consultants for extra info.