Our Bank Statement program was created to help self-employed people purchase a home easily and quickly. After all, according to the Bureau of Labor Statistics, about 16 million Americans are self-employed accounting for 30% of all employees in the U.S. That’s a lot of potential homebuyers!
Tax returns are not required and buyers no longer have to own 100% of a business. These are a few reasons why our Bank Statement program is one of our most utilized loan solutions for self-employed people. These buyers may not have credit issues and often times are interested in purchasing higher priced homes. The only challenge is the income that is stated on their W-2s due to write-offs. The solution is a Bank Statement loan that can be efficient and quick to close.
- Borrowers can own as little as 25% of the business with personal bank statements
- Borrowers can own as little as 50% of the business with business bank statements
- 1099 borrowers can qualify
- No tax returns required
- 12 or 24 months business and personal bank statements
- Loans up to $3 million
- Up to 90% LTV on personal and business with no MI
- 2 years self-employed required
Call us today to find out how to sell more homes in 2020! When we say, “Built for Speed. Driven by Service. Close Quickly With Angel Oak Home Loans.”, we mean it!