What do these Bank Statement programs do and how do they work? These programs represent a work-around of the stringent Federal “Ability to Repay” (ATR) rules that govern standard full documentation qualifying guidelines. This program is
Feb 26, 2024 | bank statement loan self-employed borrower
Get prequalified! Learn what your actual representative credit score is and don’t be fooled by the low-priced reports or credit services because many times these scores provided are not accurate. They also may not be the representative scores that will be
Oct 25, 2022 | mortgage self-employed borrower VA LOAN
If you are a self-employed business owner or a 1099 worker qualifying for an owner-occupied loan can be difficult. You pay your accountant and after all of your expenses you either show a business loss or insufficient income to qualify. It would seem th
Jul 14, 2022 | self-employed borrower Jefferson Mortgage Group bank statement loan cashflow
Over my entire career in the mortgage field, self-employed borrowers always stand out as the more challenging opportunities. The self-employed borrower often finds themselves in a tug of war between their accountant’s guidance and the demands of the mort
Nov 09, 2018 | Non QM self-employed borrower QM Specialized Forward Mortgages bank statement loan mortgage Mortgage Loan Process
It is true that the Self Employed borrower normally hits a wall when it comes to qualifying for a mortgage when asked for their Federal tax returns. The process by which your accountant works their magic is the often the exact opposite of what the lenders
Apr 19, 2018 | self-employed borrower bank statement loan Mortgage Loan Process Traditional Mortgage Age in Place Business Cash-flow Specialized Forward Mortgages cashflow