Bank statement loans for business owners and DSCR loans for real estate investors. When tax returns do not tell your whole story, we have options.
A bank statement loan uses 12 to 24 months of personal or business bank statements to establish your income, which often reflects reality far better than a tax return for a business owner. A DSCR loan (Debt Service Coverage Ratio) qualifies an investor based on whether the property’s rent covers its mortgage payment, with no personal income documentation at all. We can send program detail sheets for both.
Non-QM (non-qualified mortgage) loans use alternative ways to document income. They are built for borrowers whose tax returns understate their real cash flow, which is common for the self-employed, and for investors who qualify based on a property’s income rather than their own.
These are specialty programs, and matching the right one to your situation is exactly what a broker does best.
It is a loan for self-employed borrowers that documents income using 12 to 24 months of bank deposits instead of tax returns. It is ideal when your returns show less than you actually earn after write-offs.
A Debt Service Coverage Ratio loan is for investors. It qualifies based on whether the rental income covers the mortgage payment, so your personal income is not part of the calculation.
Often somewhat higher than conventional, because the documentation is flexible. For many self-employed borrowers and investors, the access and approval are well worth it. We will show you the full picture.
Bank statement or DSCR, we will match the right program to your situation and send the detail sheets so you can review the specifics.
