MortgageDepot has expanded our Non-Qm portfolio with an updated bank statement program to include 3 options when trying to document expense information for our borrowers:

Option #1: Apply a 50% discount to their eligible deposits
Option #2: P&L statement prepared by licensed tax preparer
Option #3:
A letter written by a CPA or licensed tax preparer stating the borrower’s expense ratio

Features:

  • 90%LTV
  • 50%DTI
  • FICO – 560
  • 12/24 months business bank statements from the same account
  • Borrower must only own at least 25% of the business
  • Business/personal bank accounts addressed to a DBA, or personal accounts with evidence of business expenses may be used
  • Eligible paypal, zelle deposits Ok
  • Gift funds Ok
  • 3 NSFs Ok
  • Overdraft Protection Ok

You must contact one of our mortgage loan originators so they can explain the bullets above and how this bank statement program gets the mortgage financing you need.

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