US Mortgage Lenders offers 12 or 24 Month Bank Statement Mortgage Loans!
Refinance your home and Consolidated Debt W/ NO TAX RETURNS NEEDED!
Refinance California Mortgage Solutions for Self-Employed Borrowers
- Refinance Up to 90% LTV on Personal and Business bank statement with no Mortgage insurance!
- 2 year self-employed required
- No tax returns required
- 12 month personal bank statements
- 24 month business bank statements
- Jumbo loans down to 600 score
- Loans up to $3 million
- Rates starting in the 4’s
- DTI up to 50% considered
- Owner-occupied, 2nd homes and investment properties
- 2 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
- Non-warrantable condos considered
- 5/1 ARM or 30-year fixed
- No pre-payment penalty for owner-occ and 2nd homes
- Seller concessions to 6% (2% for investment)
US Mortgage Lenders offers a 12 & 24-Month California Self Employed Bank Statement Loan! Refinance your home and Consolidated Debt Using Bank Statements Only!
Borrower Employment Types:
- Must provide a business license or Tax Preparer’s letter or corporate paperwork to document at least 2 years in the same self-employed work.
- Self-employed
- 1099
US Mortgage Lenders will accept Personal or Business California Self Employed Bank Statements. However, qualifying income will be calculated differently.
Personal California Self Employed Bank Statement Income Calculation = 100% of Deposits
Add all deposits for all 12 or 24 months and divide that amount by 12 or 24 respectively to receive the monthly income amount we will apply as the borrower’s qualifying income.
Ex. 24 months deposits total = $200,000 / 24 = $8,333 a month income.
Ex. 12 months deposits total = $100,000 / 12 = $8,333 a month income.
1) 3 MONTH BUSINESS STATEMENTS (24 Mo. Tax Preparer P&L)
2) BORROWER PREPARED P&L (24 Mo. Business Statements)
3) 24 MONTH BUSINESS STATEMENTS (Tax Preparer Expense Letter)
3) 24 MONTH BUSINESS STATEMENTS (50% Of gross income used No questions asked)
Add all deposits for all 12 or 24 months, divide by 2, and then divide by 12 or 24 respectively to receive the monthly income amount we will allow for the borrower.
Ex. 24 month deposit total = $500,000 / 2 = $250,000 / 24 = $10,333 per month income. Only 50% is used because we have to assume the business has overhead.
Details of the Bank Statement Only Mortgage Refinance Program:
Transfers may be accepted for business statements when they come from credit card clearing houses (examples: Paypal, Square, AMEX, etcetera). Reviewed for acceptance on a case-by-case basis, and must be considered normal for the company.
Multiple accounts are considered on a case-by-case basis when (a) one account is closing and reopening the new account, or (b) for Business accounts that are two different and autonomous businesses.
- Use California Self Employed Bank Statement only with no tax returns to consolidate (2) two mortgages? We can help you Refinance using California Self Employed Bank Statement only no tax returns to consolidate both loans into one with a low rate that could significantly reduce your monthly mortgage payment.
- Refinance using California Self Employed Bank Statement only with no tax returns required with some of the lowest rates. Now without new California Self Employed Bank Statement the only program you can cash out refinance to payoff off higher interest loans and get cash out!
- With our California Self Employed Bank Statement, only Cash Out refinance you can make one low monthly payment instead of several, and pay one loan mortgage payment month. In addition, a mortgage is usually tax deductible, saving you more in the long run!
- Even if you bad credit as low as a 600 credit score, we may still be able to help! A California Self Employed Bank Statement only Cash Out refinance paying off your higher-interest debts faster can improve your credit score. Find out if you could lower your overall monthly payments and/ or take cash out to spend as you choose
Details of the Bank Statement Only Mortgage Loan:
Transfers may be accepted for business statements when they come from credit card clearing houses (examples: Paypal, Square, AMEX, etcetera). Reviewed for acceptance on a case-by-case basis, and must be considered normal for the company.
Multiple accounts are considered on a case-by-case basis when (a) one account is closing and reopening the new account, or (b) for Business accounts that are two different and autonomous businesses.
Personal & Business California Self Employed Bank Statement Only Loan Guidelines
- Only deposits can be used- Transfers are NOT counted on personal and case-by-case for business California Self Employed Bank Statements.
- Must have 12 or 24 consecutive months of California Self Employed Bank Statements (no gaps)
- Must provide All pages (even the last pages with advertising)
- Cannot commingle (use two different California Self Employed Bank Statement accounts).
- If the bank account was used and closed and new account for the remainder of statements must show the closing of old account and the opening of a new account
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