What are Loan programs with 12-24 months of bank statements?

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Loan programs with 12-24 months of bank statements are a Non-QM Loan Program.

 

These are designated for:

• Autonomous borrowers that declare their taxes with amounts below those required by bank guidelines

• Borrowers with irregular or inconsistent income

 

Requirements: (Program Highlights)

1. Minimum of 20% down payment;

2. Minimum credit score of 640;

3. Available for Primary residence, Single Family, Second Home, and investment property

4. Interest Option (interest only) available;

5. 12-24 months of consistent bank statements

6. Accountant Letter (CPA Letter) showing the income of the borrower

7. Can be used for the purchase and refinancing of property

8. A minimum of 3 years with no credit problems (Bankruptcy, Foreclosure, Short-Sale, etc).

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To find out if you qualify for 12-24 month bank statement financing, see us for a free consultation

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What are ITIN# loans?

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ITIN# loans are designed for borrowers that do not possess a social security number, and use an ITIN# (Income Tax Identification number – Identification for the payment of taxes in the United States) to obtain financing for properties.

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ITIN# loans require a down payment between 15% and 25% of the value of the property.

 

Requirements:

You may qualify for ITIN# mortgages if you fulfill the following criteria:

1. You have filed your taxes with your ITIN# for at least 2 years;

2. You have a work history of at least 2 years in the same job

3. You can provide paystubs for the last 30 days.

4. You have a credit score of above 620

5. You have a DTI below 55% (with compensating factors)

6. You have 15%-25% of the value of the property for a down payment. Gift Funds are approved, so long as at least 5% are the borrower’s funds.

 

To find out if you qualify for ITIN# financing, see us for a free consultation.

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We are available to answer all of your questions.

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