Texas Bank Statement Mortgage Lenders-No Tax Returns Needed!

TEXAS-BANK STATEMENT ONLY MORTGAGE LENDERS –
If you are self-employed, contract worker, business owner, consultant, or entrepreneur with plenty of bank deposits then we can help you get approved for a Texas mortgage. You do not have to submit any tax returns or financial statements other than your bank statements. Self employed mortgage applicants must prove that they have been in business for 2+ years  to purchase a new home or to cash-out refinance.

BANK STATEMENT+NO TAX RETURN TEXAS MORTGAGETEXAS BANK STATEMENT MORTGAGE LENDERS

What Documents Do I need for a Texas Bank Statement mortgage only Mortgage?

  • Proof of income = Your most recent 12- or 24-months Texas Bank Statement mortgages Business or Personal Texas Bank Statement mortgages EVERY PAGE EVEN BLANKS in PDF labeled by month.
  • PDF proof of down payment statement= 2 Months Texas Bank Statement mortgages to source funds..
  • Proof of 2 years in the same business or line of work = To include business licenses or satisfactory evidence of self-employed to cover previous 24 months that could include: Articles of incorporation, 2 years of 1099 s, Business license more than 2 years or accountant letter stating more than 2 years in the same business.
  • Obligations = Divorce decree, Child support or court order required payment statements. Only if applies.
  • ID = Driver’s license, SS Card.
  • Mortgage Statements = For rental properties including taxes and insurance statements. Only if applies.
  • W2 or 1099= If you have separate W2 or 1099 income you would like to use to qualify please provide.
  • Purchase and Sale Contact. Only if you have one.
  • Verified Timely Rent Payments- For Purchases Only – Please send front and backs of checks clearing your account or wire transfer’s for the most recent 12 months to verity timely rental payments.

Serving ALL Texas – 2  Texas Bank Statement Loan loan options 

  • Personal Bank Statement mortgages: qualify using 100%  12 or 24 months bank statements.
  • Business Bank Statement mortgages: qualify on 12 or 24 months average  Texas business bank statement deposits..

What is a Texas Texas Bank Statement mortgage Lender?

Texas Texas Bank Statement Mortgage Lenders   have taken over the traditional Texas Bank Statement mortgage income loans as an alternative for self employed Texas mortgage applicants who are unable to verify their income by providing the previous two years tax returns, W2s and pay stubs. These loans are called non-QM loans, nontraditional loans or expanded criteria loans that allow other forms of documentation to prove the ability to repay. Just as it sounds, a Texas Bank Statement mortgage loan allows the borrower to verify his or her income with Texas Bank Statement mortgages

Special Considerations By Texas Bank Statement Mortgage Lenders

  • You can use either business or personal no commingling.
  • Use 12 months business bank account or personal account depending on the lender.
  • Deposits which are transferred from a business account into a personal account are OK.
  • You may combine W2 income with Texas Bank Statement mortgage income as long as the income is not being counted twice.
  • Foreign Texas Bank Statement mortgages and Foreign Assets may be considered and must be translated to English.

The Texas Bank Statement mortgage Loan Application Process

To apply for a Texas Bank Statement mortgage loan you would fill out our full mortgage application. Then provide your last 12 or 24  months’ worth of Texas Bank Statement mortgages from a personal or business bank account. Texas Bank Statement mortgage loans are processed through a manual underwriting process. This means the income is calculated by a person so the process can take 24 -48 hours.

Eligible for a Texas Bank Statement mortgage loan:

  • You must prove self-employment for a minimum 2 years.
  • Must provide proof of 12-month rental history or and 3-6 months future payments in reserves.
  • You must have at least 10% down.
  • You must have 4-6 months of PITI reserves
  • You may qualify with as little as a 12-months Texas Bank Statement mortgage.
  • You must have a credit score of 600 or above to qualify.
  • The minimum loan amount is $100,000, and the maximum loan is $5,000,000.

What Are the Advantages of a Texas Bank Statement mortgage Loan?

In summary, these are the advantages of a Texas Bank Statement mortgage loan:

  • The lender can look at 12 or 24-month Texas Bank Statement mortgages.
  • 30 Year Fixed Options.
  • Texas Bank Statement mortgage only mortgage lenders do not need to look at your tax returns.
  • Your income statements are made up of the average monthly income deposits.
  • You can get a Texas Bank Statement mortgage home loan for as little as 10 percent down.
  • You can do a cash-out refinance.
  • You can borrow up to $5 million.
  • Debt to income ratio up to 55 percent.

Eligibility Requirements for a Texas Bank Statement mortgage Loan?

Eligibility for a Texas Bank Statement mortgage requires total deposits minus disallowed deposits. This amount is then divided by the number of Texas Bank Statement mortgages, whether it is the 12 or 24 months statement.

Another option is that if the co-borrower is a W2 employee you can use a hybrid of W2 and tax return income from the co-borrower and Texas Bank Statement mortgage income from the borrower or assets from the co-borrower and Texas Bank Statement mortgages from the borrower. Non-QM loans can use multiples sources of blended incomes to qualify.

Deposits which are disallowed in regards to a Texas Bank Statement mortgage loan include transfers between bank accounts and cash or large deposits, which can raise a level of concern and may require a letter of explanation.

TEXAS BUSINESS BANK STATEMENT BUSINESS LENDERS

TEXAS BAD CREDIT BANK STATEMENT MORTGAGE LENDERS- Are you self-employed or 1099 wage earner and having a hard time getting pre-approved for a TEXAS mortgage because you have bad credit?  We know the story. They have a great top line, but after the accountant works their magic there isn’t much adjusted gross income left to by a TEXAS home. Bad credit TEXAS bank statement Business Lenders can help!…
NO TAX RETURN BAD CREDIT TEXAS USE BANK STATEMENT FOR INCOME!

Severy All Texas Including Fort Worth TexasAustin TexasDallas TexasSan Antonio Texas,  Houston Texas
Are you Texas self-employed or 1099 wage earner and having a hard time getting pre-approved for a Texas mortgage?  We know the story. They have a great top line, but after the accountant works their magic there isn’t much adjusted gross income left to by a Texas home. Texas Stated Income Bank Statement Only Mortgage Lenders has the answer…TEXAS BANK STATEMENT ONLY MORTGAGE LENDERS

TEXAS CASH-OUT MORTGAGE LENDERS WITH NO TAX RETURNS NEEDED!
Serving All Texas Including And Not Limited To: Fort Worth TexasAustin TexasDallas TexasSan Antonio Texas,  Houston Texas

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