Connect with a Broker (800) 718-8906

Unconventional Mortgages - A Wealth of Information Resource & Service: (800) 718-8906

Search

Jumbo Bank Statement Mortgage – $4,000,000

Self-Employed Bank Statement Super Jumbo loans

Borrowers utilize 12 or 24 months of business bank statements to demonstrate their Ability to Repay, eliminating the need for traditional income verification methods and potential headaches.

As you’re aware, if you’re self-employed, 90 out of 100 times, self-employed borrowers face challenges with standard loan applications and prequalifying processes.

Specifically designed for self-employed entrepreneurs, these loans when done properly or accordingly can smooth out issues early and ultimately simplify the process.

By focusing on bank statements to derive an income number for qualifying ratios, we ensure a smoother and more efficient application process.

This approach not only saves time but also reduces the paperwork burden, making it a highly convenient option for busy entrepreneurs and technical business owners.

Whether for purchasing a high-value property or refinancing existing debt, our Self-Employed Bank Statement Super Jumbo loan program(s) and qualified Loan Officers can make it quick and easy.

With our innovative product and service team of mortgage experts, self-employed borrowers can enjoy a hassle-free application, approval, escrow experience.

Self-Employed Bank Statement Super Jumbo

Income Documentation Options: 24 Months Business Bank Statements:

Required Reserves:

  • 6 Months (PITI/PITIA)
  • 6 months PITI for all REO Real Estate Owned

Credit Requirements:

  • “Housing Event” Credit Seasoning: 24 Months
  • Bankruptcy – 24 Months
  • Foreclosure – 24 Months
  • Short Sale – 24 Months
  • Deed in Lieu – 24 Months

Required Credit Scores:

  • 660 Minimum
  • 660 to 80% LTV – $500,000 Cash Out
  • 680 to 90% LTV – $1,500,000
  • Credit Criteria: Multiple foreclosures and short sales OK ~

Purpose / Loan-to-Value %:

  • Purchase – 10% Down Payment
  • Rate & Term Refinance – 90% LTV Loan-to-Value
  • Cash Out Refinance – 85% LTV Loan-to-Value

Eligible Employment Types:

* Self Employed Only

Eligible Property Types:

  • SFR Single Family Residence
  • Condos – Warrantable & Non-Warrantable
  • Condotels

Eligible Occupancies:

  • Owner-Occupied
  • Non-Owner/Investment
  • Second/Vacation Homes

Available Terms:

  • ARM: 3,5 and 7 Year
  • 30-Year Fixed (Interest Only Available)
  • 40 Year Fixed (Interest Only Available)

Program Highlights:

  • 50% DTI Debt-to-Income ratio
  • First Time Home Buyers – OK
  • 100% Gift Funds from Family Member – OK
  • Rent-free housing history OK
  • Pre-payment penalty options
  • Investors: unlimited financed REO Real Estate Owned OK
  • Non-Occupant Co-Borrower – OK

Available in the Following States:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Kansas, Kentucky, Maine, Maryland, Massachusetts, Nevada, North Carolina, Oregon, Pennsylvania, Tennessee, Texas, Virginia, and Washington.

Alternative Income Documentation

Contact a Loan Officer

Non-Qualified Lending

Non-Qualified Lenders

Unconventional Lenders