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Unconventional Business Purpose Mortgage Loan

A Business Purpose Loan is a unique mortgage program designed for primary residences. It is a type of stated income loan that does not require financial documentation, employment verification, or traditional income proof.

Stated Income Primary Residence/Owner-Occupied

This particular Business Purpose Loan Program is considered unconventional because it can be utilized on a primary residence. Done in such a way to where it is considered compliant.

What makes this business purpose loan program special? Typically, a business purpose mortgage loan is on a non-owner-occupied. described in this case, it is on a primary residence. Must show legit business, business bank account, and business expansion intentions to which you will utilize partial capital obtained via our business loan cash out refinance.

Key Features of a Business Purpose Loan

  • Loan Amount: Up to $10,000,000
  • Maximum LTV: 75% (exceptions up to 80%)
  • Minimum Credit Score: 680 (middle score)
  • Credit Criteria: 6 tradelines with 36 months seasoning
  • No Title Seasoning Required for refinances
  • Unseasoned Business Owners (<2 Years History) Accepted

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Eligible Property Types

  • Single-Family Residence (SFR)
  • Townhome
  • Condominium (<4 stories)
  • Multi-Unit Properties (Duplex, Triplex, Fourplex)

Eligible Occupancy Types

  • Owner-Occupied Primary Residence
  • Investment Property (including ADUs and roommate income)
  • Non-Owner-Occupied Investment Property
  • Second/Vacation Homes

Employment & Business Requirements

  • Self-Employed, Business Owners, Investors Accepted
  • Eligible Business Entities: C-Corp, S-Corp, LLC, Sole Proprietorship (in some cases)
  • No Income & Reserve Requirements – Application income and asset sections are left blank

Business Purpose Cash-Out Refinance

A Business Purpose Cash-Out Refinance allows borrowers to access their home equity without providing tax returns or other financial documents.

Requirements:

  • Cash-out proceeds must be deposited into the borrower’s business bank account
  • A minimum of 51% of the funds must be used for business expansion
  • A cash-out letter of explanation (consult a Loan Officer for details) must detail fund usage, including remodel costs, inventory purchases, or expected economic benefits

Why Choose a Business Purpose Loan?

Most Non-QM lenders offer business loans only for investment properties. However, this program allows primary residence owners to access home equity for business expansion.

Advantages:

  • No need to provide tax returns, W2s, pay stubs, or financial statements
  • Funds wired directly to your Business Bank Account
  • Use funds freely for business growth without restrictions

Available in These States:

Alabama, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.

Alternative Income Documentation

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Non-Qualified Mortgage Lending

DSCR Mortgage Loan Programs

Non-QM Mortgages

Non-QM Lenders

Stated Income Loans