Bank Statements

A loan for self-employed borrowers who qualify utilizing cash flow analysis

FICOs starting at 660

Purchase Money & Rate/Term Refi to 90% LTV

Loan Amounts to $3 Million

Highlights

  • Cash Out to 80% LTV
  • First Time Homebuyer (FTHB) Allowed
  • 80% LTV Condos & 2-4 Units
  • Qualify w/ 12 Months Bank Statements: Personal, Commingled, Business
  • Min 25% of Business Ownership
  • 30 Year Fixed
  • 30 & 40 Year Fixed Interest Only
  • Cash Out for Reserves Allowed
  • 1x30x12 on a Mortgage Allowed

Resources

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Matrix

NonQM Bank Statement Income Calculator

NonQM Bank Statement Calculator

Please complete all fields. Bank Statements can be securely uploaded at the end of the questionnaire. All requests submitted with a complete 12 months of bank statements will be completed within 24 hours.

 

What is commingled?:

  • A commingled bank account simply means that a borrower runs their life and business out of a single personal bank account.
  • Since they do not separate their personal and professional financial transactions, we must assume that all the business expenses come out of that one account.
  • That is why we treat a commingled bank account the same as a business bank account and use an expense factor to determine the borrower’s true earnings.


Guidelines:
  1. At least one applicant must be self-employed to qualify.
  2. Credit Score used for qualifying is the lowest middle for all applicants.
  3. Minimum credit score is 660.
  4. Maximum DTI is 55%. Additional restrictions apply.
  5. If NSF activity, additional restrictions apply. Consult your AE for specifics.


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