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
- The borrower has been Self Employed for at least 2 years;
- The borrower provides their most recent tax filings for their Personal & Business Tax Returns with all schedules;
- An unaudited Profit & Loss is provided from the tax year end to current date.
- 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.