Self Employed Borrower Options

we will always ask to review your income taxes first.  There are several items that can be added back in to give us a higher qualifying income. Some of the items we can use are:

• Depreciation or depletion
• Business use of your home
• Notes due in less than one year
• Carryover losses from previous years 

Once we are able to analyze your returns, we can recommend the most affordable loan product for you.  If your reported income is still not enough, we do have other options to explore. 

We offer several investors with bank statement loans for self employed borrowers to be able to prove their income.  Some features:

• 12 or 24 month personal or business bank statements
• 2 months business with a CPA prepared Unaudited Profit and Loss
• Most average all deposits and subtract a 50% expense figure to get average income.  A CPA letter can be used to lower the expense figure to 20%
• UP to 90% ltv based on Credit
• SFR, 1-4 unit, condo
•  primary, second and investment
• title in an LLC ok 

These loans will only consider a Profit and Loss, prepared by your accountant (unaudited).  For seasonal or businesses that have large periods of inactivity, these can work well.  Some features:

• 80% LTV on purchase
• available for Purchase or Refinance
• Credit score based LTV
• SFR, 1-4 Unit, condo
• primary, second and investment properties
• Title in LLC ok

  If you are a 1099 sub contractor or consultant, we can use just your 1099 to establish your income.  Our lenders use a % of your 1099 as an expense figure based on your industry.  

• use multiple 1099, great for ride share, delivery or contractors who work for more than one party
• Straightforward qualifying, no taxes needed
• up to 95% LTV in some cases
• LTV and rate are based on credit score
• Purchase and refinance
• Title in name of LLC ok
• SFR, 1-4 unit, condo
• Primary, 2nd home and investment

These loans, exclusively for rental properties, require no income documentation from the borrower.  

• income calculated based on existing leases agreements or market rent, whichever is less
• LTVs as high as 80% on some
• Credit Score based lending
• 1-9 units, condos, PUDs eligible
• Some Mixed use available
• Reserves are required
• Can borrow in name of LLC
• Most have Prepayment Penalty

Sometimes, your situation is outside the norm.  In that case, give us a call.  We work with several investors who have non traditional programs that are simply based on each transaction and the risk involved.  If we cant find or dont have the best program for you, we will refer you to someone who may.