Lower Down on the Paperwork With Our One-Web page Financial institution Assertion Program!
Mortgages are infamous for requiring a ton of paperwork. If 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, now we have a manner so that you can cut 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 presents 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 supposed to fulfill the wants of self-employed debtors, seasonal staff, or different debtors with nontraditional earnings 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 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 you have to 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 appropriate.
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 means 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 must dig by means of your data to supply months price of enterprise and private financial institution statements to show which you can deal with the mortgage!
Contact MortgageDepot Right this moment!
Are you uninterested in being shut out of the true property market just because your earnings stream doesn’t appear like 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 this moment to study extra about our non-QM choices, together with our progressive One-Web page Financial institution Assertion program!
Join with considered one of our mortgage consultants for extra info.
