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Self-Employed Home Loan – 1-Year Lite Doc

Update: 2024

620 Minimum Middle Credit Score

Purchase / Rate & Term | 85% LTV – 680 Credit Score

Cash-Out Refinance | 80% LTV – 640 Credit Score $1,000,000 Maximum Cash-in-Hand

Income Documentation: 12 Months Personal Bank Statements

Profit and Loss Statement: Borrower Prepared and Unaudited P&L

Expense Factor: A percentage determined by the Loan Officer and signed off on by the underwriter.

Criteria for the underwriter to consider is the Scope (Business Narrative Form) of the company

Asset Depletion

Self-Employed Borrower Verification of Employment Documentation | VOE CPA, Enroll Agent or Professional Tax Preparer to state percentage of business ownership. Have been filing Self-Employed tax returns for previous year.

W2 Wage Earner Co-Borrower – OK

Credit Criteria:

Two Mortgage Lates in Previous 12 Months OK.

Asset Depletion Available for W2 Wage Earner and Self-employed

Can Own up to 20 Financed Properties

Available n the Following States:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Kansas, Massachusetts, Missouri, Nevada, New Jersey, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, Vermont, Virginia, Washington, and Wisconsin.