Do you have a self-employed client who has had difficulty obtaining a mortgage?
Angel Oak’s Bank Statement loan allows self-employed borrowers the ability to qualify based on a 12 month average of deposits using their personal or business bank account.
- No Tax Returns Required
- Personal Bank Statement qualified based on 12 month average monthly deposits**
- Business Bank Statement qualified based on 12 month average monthly deposits**
- 600 Minimum Credit Score
- Up to 90% LTV (No MI) allowed on Personal and Business
- Loans to $3 Million (Minimum $150,000)
- Interest Only Available*
- 5/1 ARM or 30-year fixed
- 2 Years Seasoning for foreclosure, short sale, bankruptcy, deed In lieu
- Owner-Occcupied, 2nd homes, investment properties allowed
- Non-warrantable condos considered
- Gift funds allowed
- No pre-pay penalty for owner-occupied and/or 2nd homes
- SFRs,town homes, condos, 2-4 units
- DTI above 40/45% with no additional reserve requirement
If you have any questions, please contact us.