01 Mar Bank Statement Loans Save Deals For Self-Employed Homebuyers
The purchase market is surging, and Angel Oak has helped many homebuyers get the home they wanted after being turned away from other lenders. It may be stressful since inventory is so tight, but we are able to close quickly!
A good majority of the people we help are self-employed who can’t qualify using tax returns. They need a Bank Statement mortgage loan. Many lenders simply do not have a Bank Statement loan product and that is why they turn them away.
We are known for our non-QM loan solutions that includes a Bank Statement mortgage.
Self-employed homebuyers wanting to buy larger, higher priced homes. They need a Jumbo mortgage and typically they have good to excellent credit.
Tax returns do not satisfy the ability-to-repay rule due to tax deductions self-employed business owners are allowed to take.
Bank Statement loans for those who are eligible. Homebuyers can submit 12 to 24 months of personal or business bank statements. Loans go up to $3 million for purchases or refinances.
Avoid the delays that could result in losing a deal! Have your homebuyers call us first – from the beginning – to find out what they are eligible for and the right mortgage solution.
Want to know more to educate your self-employed homebuyers? Call us and we will walk you through it.