SAN DIEGO BANK STATEMENT ONLY MORTGAGE LENDERS- NO TAX RETURNS!Alpine, CA, Bonita, CA,Campo, CA,Cardiff By The Sea, CA,Chula Vista, CA,Coronado, CA,Del Mar, CA,Descanso, CA,Dulzura, CA,El Cajon, CA,Guatay, CA,Imperial Beach, CA,Jamul, CA,La Jolla, CA,La Mesa, CA,Lakeside, CA,Lemon Grove, CA,Mount Laguna, CA,National City, CA,Pine Valley, CA,Potrero, CA,Poway, CA,Rancho Santa Fe, CA,San Ysidro, CA,Santee, CA,Solana Beach, CA,Spring Valley, CA,Tecate, CA,
SAN DIEGO CA San Diego CA Self Employed BANK STATEMENT MORTGAGE LENDERS|
. 10% DOWN+STATED INCOME SAN DIEGO CA MORTGAGE LENDERS- Are you San Diego self-employed or 1099 wage earner and having a hard time getting pre-approved for a SAN DIEGO CA mortgage? We know the story. Your Gross income is through the roof but after the accountant works their magic there isn’t much income left to purchase or refinance a SAN DIEGO CA home!US MORTGAGE LENDERS BANK STATEMENT ONLY MORTGAGE
- NO TAX RETURNS NEEDED!
- QUALIFY USING BANK STATEMENT ONLY
Self-Employed Mortgage Lenders Program Highlights Summary
10% Down with a 660 & 15% Down with a 600 Score!
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- No tax returns Needed! Proof of 2 years self-employed!
- Owner-occupied, 2nd homes and investment properties.
- Loan Amounts From $150,000 to $5,000,000.
- 12 months personal or 24 months business bank statements
- Debt to income up to 50% considered.
- Choose either a 5/1 and 7/1 ARM’S and/or 30-year fixed.
- No prepayment penalty for owner-occ and 2nd homes
- Seller paid closing cost allowed up to 6%.
- Business Bank Statment Expense Ratio Options Include:
4 Different Options For using Business Bank Statement Only!
Non-warrantable condos considered bank Statement Only borrowers that can document their income by providing the following:
KEY POINTS TO THE BANK STATEMENT ONLY MORTGAGE PROGRAM
• 100% of Deposits for Personal Statements! or
• 100% of Deposits for Business Statements!
• Don’t look at Withdrawals!
• Don’t look at Overdrafts!
• No P&L!
• No Reserves!
1.Min 500 FICO!
3. Owner Occ. w/ 600 Fico, Non-Owner & 2nd Homes w/500 Fico
4. San Diego CA Self Employed and 1099 borrowers only
5. Only 6 NSF’s in most recent 12 months
FOR SAME DAY PRE APPROVAL!
FOR YOUR FREE NO OBLIGATION CONSOLATION
24 Months Bank Statement Only California Employment Types:
- San Diego CA Self Employed
- 1099
o Must provide business license, Tax Preparer’s NOT Audited letter or corporate paperwork.
US Mortgage Lenders will accept Personal or Business Bank Statements. However, qualifying income will be calculated differently.
San Diego California Personal Bank Statements: 100% of Deposits- Add all deposits for all 24 months and divide that amount by 24 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.
San Diego California Business Bank Statements: 50% of Deposits- Add all deposits for all 24 months, divide by 2, and then divide by 24 to receive the monthly income amount we will give to the borrower.
Ex. 24 month deposit total = $500,000 / 2 = $250,000 / 24 = $10,333 a month income. * Only 50% is used because we have to assume the business has overhead.
Details of San Diego California Bank Statement Only Lenders Program:
Personal & Business Guidelines
- Only deposits can be used Transfers are NOT counted on personal and case-by-case for business*
- Must have 24 consecutive months of statements (no gaps)
- Must provide All pages (even the last pages with advertising)
- Can not commingle (use two different accounts) statements**
- If the account was used and closed and new account for the remainder of statements must show the closing of old account and an opening of a new account
California bank Transfers may be accepted for business statements when they come from credit card clearing houses (examples: Paypal, Square, AMEX, etcetera). Case-by-Case and must be considered normal for the California company.
California Multiple bank accounts are considered on a case-by-case when (a) one account is closing and reopening the new account, or (b) for Business accounts that are two different and autonomous California businesses.
Self Employed Lenders San Diego, CA
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San Diego California Business Taxes and Fees
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