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Our bank statement loan service provides flexible solutions. By analyzing gross monthly deposits and subtracting an expense ratio or factor percentage, our lenders pre-underwrite and calculate your qualifiable income. This approach ensures a tailored evaluation for debt-to-income (DTI) ratios and loan-to-value (LTV) thresholds, enabling access to competitive financing options.
Each Lender Its Own
Each Non-QM lender applies a unique manual underwriting process, considering various business-specific factors to determine the appropriate percentage. These criteria include your industry, business model, cash flow patterns, merchant payment methods, and utilization of funds. This detailed analysis maximizes your income and enhances your financial profile for approval.
As a specialized mortgage broker service, we focus on maximizing borrowers’ unconventional income streams. Whether you’re self-employed, an independent contractor, or own a small business, our Non-QM mortgage lending solutions adapt to your unique circumstances, providing flexibility and efficiency in achieving your homeownership goals
The Pre-Underwrite Department can process/analyze (some lenders 1, 2, 3, 6, 12, and 24 months with personal account bank statements so we have the income figured out and signed off to the dollar to make sure the numbers fit before jumping through all the hoops of a full application, credit report, and disclosures.
We pre-underwrite your bank statements for you before the Underwriter sees them to ensure we get the right Conditional Loan Approval (CLA).
1. Your Loan Officer analyzes the bank statements (and any Asset Depletion potential to supplement total income).
After your Loan Officer reviews the statements, often times, 1 of 2 things will happen, your Loan Officer will either have questions for you regarding the statements; deposits, Income deposits, transfers to get clarity on how you run your business in terms of how you utilize your bank accounts in anticipation of any questions the lender rep (Wholesale Account Executive) will have for the loan officer before Underwriter Submission. To ensure a smooth loan, the lender rep will bring them to the actual underwriter along with a lender specific criterion, Income Worksheet, etc.