Free email newsletter about financial investing truth bombs from Brian Decker
Find out how self employed borrowers in San Jacinto, CA are qualifying for home loans
Good news! Even if you declare a loss on your federal income taxes, you may still be eligible for a mortgage loan. Our 12-month bank statement loan program at Modern Lending does not require any federal income tax returns as verification of income. Instead, we use your bank statements’ total deposit amounts from the previous year as evidence of your income. Private mortgage insurance (PMI) is not required under our Bank Statement Loan program, nor is there a maximum loan amount. Borrowers may submit applications for loans of up to $10,000,000. To qualify, though, a down payment of between 10% and 20% will be required. Your credit score determines the down payment and interest rate for your mortgage.
The Bank Statement Loan Process
Self-employed borrowers are only required to provide the following documents:
Benefits of Bank Statement Loans include:
Watch this short video to find learn more about how Bank Statement Loans can benefit you. See why Modern Lending is closing 5 times more loans for self-employed homeowners in San Jacinto, CA.
Bank Statement Loans in San Jacinto can be used to purchase the following properties:
Scenario examples of potential borrowers in San Jacinto
Scenario # 1: A husband or wife is self-employed and their spouse is a w2 employee
Scenario #2 Both borrowers are self-employed for at least two years in separate businesses
Lending Guidelines On Bank Statement Mortgage Loan Program
Mortgage rates change every day, and your rate will vary based on your location, finances, and other factors. Get your FREE customized rate comparison below: