Reduce 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. If you’re a self-employed borrower non-QM mortgage choices, we have now a method 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 purchasers. This program gives a financing choice to debtors who may not qualify for different Financial institution Assertion program situations.
Financial institution Assertion Applications: A Temporary Rundown
Financial institution Assertion applications are meant to satisfy the wants of self-employed debtors, seasonal workers, or different debtors with nontraditional earnings streams. They don’t require the in depth tax documentation that different mortgage applications demand. As a substitute, they base your eligibility in your financial institution statements and your revenue and loss (P&L) assertion.
There are just a few methods debtors can use Financial institution Assertion applications to their benefit. A borrower can qualify for a Financial institution Assertion mortgage through the use of:
- A P&L assertion as the first monetary documentation.
- Private financial institution statements from the previous yr.
- Enterprise financial institution statements from the previous yr.
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 that you must find out 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%.
- Not less than 50% possession within the enterprise is required to qualify.
- Debtors can verify eligibility with solely the P&L assertion. There’s no have to dig by way of your information to offer months value of enterprise and private financial institution statements to show which you can deal with the mortgage!
Contact MortgageDepot At present!
Are you bored with being shut out of the actual property market just because your earnings 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 right now to be taught extra about our non-QM choices, together with our progressive One-Web page Financial institution Assertion program!
Join with one among our mortgage consultants for extra data.