Unlock Your Dream Home with the Bank Statement Program for Self-Employed Borrowers

bank statement program

Bank Statement Program: A Tailor-Made Solution for Self-Employed Borrowers

A bank statement program is a great alternative to qualify for a loan when the traditional avenue of providing tax returns is simply not available.

Our clients, a husband and wife duo running a successful clothing and apparel business, faced rejection by their bank when they tried to secure a loan for their first home. They turned to us for assistance, and we quickly identified the issue: as self-employed borrowers, their income was better demonstrated through their business bank statements rather than tax returns.

We found a lender willing to approve them under a bank statement program, which is an ideal solution for self-employed borrowers. All we needed to provide were 12 months of their business bank statements.

And with at least 7 bank statement calculation methods, nearly every borrower can benefit from this flexible program.

Overcoming Obstacles and Achieving Homeownership

With only a 20% down payment, our clients became proud homeowners, securing a 30-year fixed interest rate of 5.25% – all without submitting a single tax return.

We also helped them address other challenges, such as:

  • Boosting their credit scores to qualify for a lower interest rate and 80% loan-to-value (LTV) instead of 75% LTV.
  • Obtaining lender approval for using gift funds from family members to cover a significant portion of the down payment.
  • Despite the ongoing COVID-19 pandemic, we ensured their loan closed on time according to the purchase agreement’s deadline.

Ready to Explore the World of Self-Employed Loans?

If you’re a self-employed borrower struggling to secure a home loan, the bank statement program might be the solution you need. In fact, there are several options for home loans without tax returns:

  • Bank statements
  • Profit and loss statement
  • CPA, accountant, or tax preparer letter

We specialize in self-employed loans. Contact us today to learn more and start your journey toward homeownership.

No tax returns? No problem. Let’s explore your bank statement loan options.

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