Self-Employed Mortgage Programs
Discover how Bank Statement Mortgages can empower self-employed individuals on their path to securing mortgage financing
Your Mortgage Lender For Self Employed Workers
- Loan Amounts Up To $4 Million.
- Unlimited Refinance Cash Out Up to $3 Million
- Minimum 660 FICO Score to Qualify
- Qualify Using Business or Personal Bank Statements
- No W-2s, Pay Stubs, Or Tax Returns Required.
- Interest Only Options Available On All Programs.
What is a Self-Employed Home Loan?
Self Employed Mortgages are specifically designed to provide a seamless pathway to homeownership and real estate investing for self-employed borrowers. By considering your business or personal bank statements as evidence of your true income, this program ensures that your true financial profile is taken into account. It is a program designed to recognize your entrepreneurial spirit and reward you with accessible and flexible mortgage financing options.
Ready To Make the Call?
Connect with a MBANC Loan Officer Today
Embrace the possibilities of enhanced mortgage financing as a self-employed individual. Discover how Bank Statement Mortgages can provide you with the tailored financing solution you need.
Experience The MBANC Difference
Self-Employed Mortgage Success Stories
In the heart of Boca Raton, Florida, a city known for its upscale shops, world-class golf courses, and pristine beaches, Craig, a Senior Financial Advisor
In the ever-evolving landscape of self-employment, individuals like Joshua, the creative force behind Big Picture Studios, often find themselves navigating a distinct set of challenges.
Frequently Asked Questions
Bank Statement Mortgages are specialized mortgage programs designed for self-employed borrowers. They allow applicants to use their bank statements as proof of income instead of traditional tax returns.
When using a 1099, we will review your total income and take away an expense ratio of 10% (unless otherwise provided) and qualify you on the remaining 90% of income. If you have several forms of income, we will add all of the sources together to determine your average monthly income. We can consider most sources of income that have a two-year history!
Self-employed borrowers will need to submit all required documentation to qualify, such as:
- Proof of Income
- 12 to 24 Months of Personal or Bank Statement
- 1099 Income
- W2 Income
- 2 Years of Self-Employed Work History
- If you co-own a business, you’ll need to document how much of the business you own.
- Borrower Financial Details
- Property Details
No, Bank Statement Mortgages can be used for primary residences, second homes, and investment properties.
Yes, Bank Statement Mortgages are generally more flexible because they consider a broader range of income sources. This flexibility can make it easier for self-employed individuals to qualify for a mortgage.
Many people buying homes may need to combine sources of income to qualify for a mortgage. Traditionally, this means two or more tax returns. However, self-employed borrowers can qualify for a self-employed mortgage using multiple different sources of income documentation.
Your specific mortgage rate is influenced by a range of elements: income evaluation method, down payment/equity status, credit score, loan term, income, and debt. Reach out to us for a complimentary quote on our competitive rates for self-employed mortgages and discover your potential qualification amount