1. 12 Month Bank Statement Mortgage For Self-Employed Borrowers * Until recently, most self-employed home buyers had a difficult time qualifying for a mortgage.
- Many self-employed home buyers often have the means to afford a higher-end home
- Self-employed wage-earners have the luxury to write off many business expenses under the IRS Tax Code
- Writing off business expenses from their gross income benefits self-employed wage-earners in paying less in income taxes
- Unfortunately, a lot of write-offs means self-employed wage-earners having a difficult time qualifying for a mortgage
2. Benefits Of Non-QM And 12 Month Bank Statement Mortgage For Self-Employed Borrowers
* There are many benefits of Non-QM and 12 Month Bank Statement Mortgage For Self-Employed Borrowers. Non-QM Loans are not for borrowers with just bad credit. Many borrowers who qualify for government and conforming loans often benefit from Non-QM Mortgages.
* Here are the main benefits of using Non-QM And 12 Month Bank Statement Mortgage For Self-Employed Borrowers:
- Borrowers who exceed government and conforming limits
- Borrowers with late payments in the past 12 months, including mortgage late payments
- Borrowers who do not meet the mandatory waiting period after bankruptcy, foreclosure, deed in lieu of foreclosure, short-sale
- Homebuyers needing a jumbo loan but have lower credit scores down to 500 FICO
- Self-employed borrowers who have little to no income or negative income on their tax returns can qualify with our Non-QM 12 Month Bank Statement Mortgage
For more information about the contents of this article or other mortgage-related topics, please contact us at Gustan Cho Associates at 262-716-8151 or text us for faster response. Or email us at gcho@loancabin.com. The Team at Gustan Cho Associates Mortgage Group is available 7 days a week, evenings, weekends, and holidays.
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