Self Employment Non Traditional Loan Programs

A great many of us are self employed in today's business climate. Regardless of if you are a 1099 employee or a business owner there are times that traditional financing is not an option.

Program highlights:

Up to 5% points and fees

5/1, 7/1, 10/1 LIBOR ARM

15 and 30 year fixed

Credit scores as low as 620

Loan amounts up to $3M

Maximum cash out $2M

Asset Qualification Option:

Qualified based on verified liquid assets

Employment and income are not stated on 1003 DTI not calculated

4506T not required

Payment shock not calculated  

A borrower with a 25% or greater ownership interest in a business is considered self-employed

Bank Statements Option:

Personal or business bank statements allowed

Self-employed borrowers* using bank statements with or without asset amortization

If business and personal accounts are combined, or if borrower is using only business bank statements, income is evaluated using a 50% expense factor for business related deposits

DTI up to 50%

Payment shock not calculated