Are there Home Loan Programs for People that are Self-Employed?

We have just released a new home loan program specifically designed for people who are self-employed.  The program allows us to qualify self-employed folks using bank statements instead of the previous year’s tax returns.  We take a 12 month history of your deposits that show on your personal bank statements.  We can also use more than one account.  This becomes the income we will use for your qualifying income.  We don’t look at your taxes.  We don’t look at your expenses.  We don’t look at the IRS transcripts of your tax returns.  It’s purely based on your bank statements.  There are minimum credit score requirements of 680.  Financing is available on this program up to $2.5 million.  It can be used to purchase a home or refinance.

It is also available for primary residences, second homes and investment properties.  There are a lot of different ways to use this program.  It does require a little more equity.  Currently the program goes up to a 55% loan-to-value.  It is a great stepping stone in the right direction.  We are starting to see more programs starting to expand their guidelines.  If you have any questions or feel this program can help yourself or someone you know, please give me a call at 858-369-7510.

Carmel Valley San Diego Community | Julie Ozanich | Bank of ManhattanWith a mission to provide a higher standard of mortgage lending services, Julie began her career in mortgage banking in 1990. To date, Julie has successfully closed over $1 billion in mortgage loans and helped over two thousand customers achieve their mortgage goals. Program availability may differ slightly in different states. Terms may vary. Subject to change without notice. Bank of Manhattan is not affiliated with nor endorses The Carmel Valley Life. NMLS# 401422.

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