Self Employed – ONE YEAR TAX RETURNS – Jumbo Loans to $3.5 million.
A common request as of late has been Self Employed Borrowers only wishing to provide their most recent tax returns covering a one year period, so yes, WE CAN OFFER THIS AMAZING NICHE to our clientele.
The Self-employed Program which goes as high as $3.5 million in guideline, allows for a Self Employed Borrower to partake of this aspect with the following needs
1. The borrower has been Self Employed for at least 2 years;
2. The borrower provides their most recent tax filings for their Personal & Business Tax Returns with all schedules;
3. An unaudited Profit & Loss is provided from the tax year end to current date.
4. An unaudited Balance Sheet is provided from the tax year end to current date.
Once it’s determined by comparison review that the income is stable, positive and trending; borrower can proceed as a Full Doc loan under the Self-Employed Program
• 85% to $1.5mm loan amounts.
• 80% to $3.0mm loan amounts.
• 65% to $3.5mm loan amounts.
• Unlimited Cashout.
• Gifts allowed.
• Can close in the name of an LLC.
• Interest Only.
• Can be an ARM or Fixed rate mortgage.
• Cashout Proceeds can be used to satisfy the Reserve Requirement
Should you have any questions or comments, please feel free to reach out to us
Many of our clients would like to unlock the equity in their home or buy an investment property.
No income verification loans are for owner-occupied and investment properties.
They are for 1 – 4 family homes as well as condominiums.
They are for refinances and for purchases.
There is NO prepayment penalty of any kind.
The rate is exactly the same regardless of credit score, type or use of the property.
65% Loan to Value may be borrowed on any property up to 1 million dollars with 700 credit score.
60% may be borrowed with credit score of 660 – 699
55% may be borrowed with credit score as low as 600.
There are many unique financing issues that have prevented our clients from borrowing loans.
Income verification is just one of many issues preventing loans from being approved.
This loan program does not require the verification or sourcing of income.
Eligible borrowers: US citizens; green card holders; A-5 & A-10 Employment Authorization Document holders;
Eligible Visa are: E-2; H-1B; L-1; L-2; R-1
We also want to make you aware of the availability of stated income loans for commercial properties, mixed-use & multifamily properties.
This program allows for both owner-occupied and investment purposes.
Contact us for more information about our no income check loans.