• SELF EMPLOYED TEXAS CASH-OUT REFINANCE UP TO 500K! 
  Serving All Texas Including And Not Limited To: Fort Worth Texas, Austin Texas, Dallas Texas, San Antonio Texas,  Houston Texas
•  NO DOC TEXAS COMMERCIAL MORTGAGE LENDERS

Serving All Texas Including And Not Limited To: Fort Worth Texas, Austin Texas, Dallas Texas, San Antonio Texas,  Houston Texas

TEXAS SELF EMPLOYED-BANK STATEMENT MORTGAGE LENDERS- NO TAX RETURNS!
Popular Texas Self Employed Pages Include:

• 10%DOWN+TEXAS SELF EMPLOYED BANK STATEMENT MORTGAGE LENDERS
• 15% Down(PRIMARY HOME) Self Employed Texas Stated Mortgage Lenders
• Texas stated income self-employed mortgage lenders
• STATED TX MORTGAGE LENDERS FOR SELF EMPLOYED
• TEXAS BAD CREDIT CASHOUT REFINANCE
•  NO DOC TEXAS COMMERCIAL MORTGAGE LENDERS

Many Self-employed business owners agree that their tax returns do not accurately show their ability to make a mortgage payment. The self-employed borrower tends to write off and or deduct many expenses that a salaried / W2 employee is not able to. Because of the extensive write-offs, the income on their tax returns may not qualify for a traditional bank mortgage to purchase and or get the loan amount they need to purchase the home of their dream. Bank statement mortgage lenders provide an alternative income solution offered by certain bank statement only mortgage lenders to help self-employed borrowers qualify for a mortgage with NO TAX RETURNS!

TEXAS BANK STATEMENT ONLY MORTGAGE LENDERS DETAILS INCLUDE:

• 2 Years Self Employed Required!
• Bank statement deposits used to qualify!
• No tax returns required
• 12 months personal bank statements or 24 months Business Statements used for income
• Loans up to $3 million
• Credit scores down to 580.
• Rates starting in the 5-6% range.
• Up to 90% LTV
• DTI up to 55% Debt To Income Ratio
• Owner-occupied, 2nd homes, and investment properties
• 2 years seasoning for foreclosure, short sale, BK, DIL
• Non-warrantable condos considered
• Jumbo loans down to 640 score
• 5/1 ARM or 30-year fixed
• No pre-payment penalty for owner-occ and 2nd homes
• SFRs, townhomes, condos, 2-4 units
• Seller concessions to 6% (2% for investment)

• QUESTIONS CALL 954-667-9110

10%DOWN – Self Employed TX Mortgage Lenders No Tax Returns!!

TEXAS SELF EMPLOYED MORTGAGE LENDERS QUESTIONS AND ANSWERS

• How can i get approved for a mortgage if I am Self Employed? asked by Thomas Martin
• Are Stated Income loans still available? asked by Thomas Martin
• Why should i apply for a bank statement only loan instead of a conventional mortgage if i’m self employed? asked by Thomas Martin
• Whats The Minimum Downpayment For a self employed no tax return mortgage? asked by Thomas Martin
• Do self employed mortgage lenders allow w2 co borrowers income to qualify? asked by Thomas Martin
• If my account has over drafts or NFS can i still qualify for a bank statment only mortgage? asked by Thomas Martin
• Do I need tax returns to qualify for a mortgage? asked by Thomas Martin
• Do no doc mortgage loans still exist for primary homes? asked by Thomas Martin
• Am I eligible for an FHA mortgage if I’m enrolled in consumer credit counseling? asked by Thomas Martin
• How are disputed collection accounts considered for manually underwritten FHA mortgage lenders? asked by Thomas Martin
• Do FHA mortgage lenders require Tax Returns for a borrower with self-employment or commission income? asked by Thomas Martin
• Can I use 1 YEAR bonus overtime commission to qualify for a FHA mortgage? asked by Thomas Martin
• For an FHA Mortgage Can gift funds for downpayment come from the employer? asked by Thomas Martin
• Can a real estate agent give a gift or use their commission for the down payment? asked by Thomas Martin
• For an FHA Mortgage Can gift funds be provided from a friend? asked by Thomas Martin

Serving All Texas Including And Not Limited To: Fort Worth Texas, Austin Texas, Dallas Texas, San Antonio Texas,  Houston Texas: Abilene, Alice, Alvin, Amarillo, Andrews, Angleton, Arlington, Athens, Bay City, Beaumont, Beeville, Belton, Big Spring Self Employed Mortgage Lenders, Borger, Brenham, Brownsville, Brownwood, Bryan, Burkburnett, Canyon Self Employed Mortgage Lenders, Carrollton, Cedar Park, Cleburne, College Station, Conroe, Converse, Copperas Cove, Corpus Christi Self Employed Mortgage Lenders, Corsicana, Dallas Self Employed Mortgage Lenders, Del Rio, Denison, Denton, Dumas, Eagle Pass, Edinburg, El Campo, El Paso, Ennis, Fort Worth Self Employed Mortgage Lenders, Texas Self Employed Mortgage Lenders Freeport, Gainesville, Galveston, Gatesville, Georgetown, Greenville, Groves, Harlingen, Henderson Self Employed Mortgage Lenders, Hereford, Hewitt, Houston Self Employed Mortgage Lenders, Humble, Huntsville, Ingleside, Irving, Jacksonville, Kerrville, Kilgore, Killeen, Kingsville, La Marque, Lake Jackson, Lamesa, Laredo, Levelland, Lewisville, Live Oak Self Employed Mortgage Lenders, Lockhart, Longview, Lubbock, Lufkin, Mansfield, Marshall, McAllen, McKinney, Midland, Missouri City, Mount Pleasant, Nacogdoches Self Employed Mortgage Lenders, New Braunfels, Palestine, Pampa, Paris, Pasadena, Pecos, Plainview, Texas Self Employed Mortgage Lenders Plano, Port Arthur, Port Lavaca,Self Employed Mortgage Lenders Portland, Richmond, Rio Grande City Self Employed Mortgage Lenders, Rockwall, Roma, Round Rock, San Angelo, San Antonio, San Benito, San Marcos, Seguin, Sherman, Snyder, Socorro, Stephenville, Sugar Land, Sulphur Springs, Sweetwater, Taylor, Texas City, Tyler, Uvalde, Vernon, Self Employed Mortgage LendersVictoria, Vidor, Waco, Waxahachie and Wichita Falls.

BANK STATEMENT ONLY MORTGAGE TEXAS– NO TAX RETURNS REQUIRED.

self-employed borrowers bank statement only loan

• 12 Months of Personal Bank Statement Loan Program

Borrower(s) provide the Bank Statement Lender their most recent 12 months of personal bank statements showing deposits from work. Update:

• 24 Months Business Bank Statement Lenders Program

Borrower(s) will need to provide 24 months of bank statements business bank statements year to date and provide a borrower signed profit and loss. The bank statement lender will use this income for qualifying. Texas self-employed bank Statement Only Lenders Approvals varies Case By Case from lender to lender.

QUALIFYING WITH BANK STATEMENT ONLY MORTGAGE LENDERS – NO TAX RETURNS REQUIRED.

Qualifying for the Bank Statement Only Mortgage Loan

Available only to the self-employed business owners, or for two or more borrowers where one or more of the borrowers is self-employed for at least the last  (2) two years. This is a great solution for commissioned and 1099 Texas mortgage applicants who don’t want to provide tax returns or sign IRS form 4506-T. You simply need to show proof of income by providing 12 to 24 consecutive months of bank statements. Texas self-employed Bank Statement Only Lenders Approvals varies Case By Case from lender to lender.

BANK STATEMENT DEPOSITS USED TO CALCULATE INCOME:

• MAXIMUM INCOME USED FOR PERSONAL BANK STATEMENTS – A self-employed borrower’s income is calculated by averaging 100% of personal bank statement related deposits from their most recent 12 months of personal bank statements. If your statements show low deposits for two or three months, then a large deposit the following month, the underwriter may request an additional 12 months to confirm your monthly income normally fluctuates. TEXAS SELF EMPLOYEDBank Statement Only Lenders Approvals varies Case By Case from lender to lender.
• MAXIMUM INCOME USED FOR BUSINESS BANK STATEMENTS – For business bank statements only lenders will allow as much as 90% of the job-related deposits can be used for income qualifying, not 100%. Texas self-employed Bank Statement Only Lenders Approvals varies Case By Case from lender to lender.

The maximum “Debt to Income”(DTI) ratio is 55%. Self-employed borrowers with a lower debt to income ratio may receive better a better rate & pricing. Texas self-employed Bank Statement Only Lenders Approvals varies Case By Case from lender to lender.

MINIMUM BANK STATEMENT ONLY CREDIT SCORE NEEDED

600 or higher middle FICO scores. As much as 80% financing depending on appraised value

Bank statement only lenders require a credit Score of 640-679 are acceptable at lower LTV up to 85% and slightly higher interest rates occur with low down payment options.

Refinance with cash back: 680+ credit = 75% financing;

REQUIRED SELF EMPLOYMENT DOCUMENTATION

All self-employed mortgage lenders are required to prove stability in the line of employment by providing a copy of their business license or “Articles of Incorporation” showing they have been self-employed in the most recent (2) two years OR have a licensed CPA or enrolled IRS agent draft a letter confirming the same. Texas self-employed Mortgage Lenders using Bank Statement Only varies Case By Case from lender to lender.

BANK STATEMENT ONLY REQUIRES MONTHLY RESERVES = MONIES IN ACCOUNT AFTER CLOSING REQUIRED BY TEXAS SELF EMPLOYEDMORTGAGE LENDERS-

Case By Case 1 -12 months of P.I.T.I future payments required in the account at closing.

If the loan amount is over $1 million, then 12 months. IF over $2M, then 18 months. Bank Statement Only Approvals varies Case By Case from lender to lender.

ACCEPTABLE BANK STATEMENT ONLY LENDERS LENDER ON PROPERTIES THAT INCLUDE: Condos, Townhomes, single family homes, condotel, duplex, triplex or four-plex all qualify on various programs. Property can be as a primary residence, second home, or rental property. Texas self-employed Bank Statement Only Lenders Approvals varies Case By Case from lender to lender.

BANK STATEMENT ONLY LENDERS TERMS INCLUDE – This self-employed loan type is offered on a 30 year fixed-rate or adjustable-rate mortgages with 5, 7, or 30 years fixed terms then it becomes adjustable. TEXAS SELF EMPLOYED Bank Statement Only Lenders Approvals varies Case By Case from lender to lender.

ARE BANK STATEMENTS ALWAYS REQUIRED WITH SELF EMPLOYED BORROWERS? For self-employed or 1099 mortgage applicants, the lender must obtain complete individual federal income tax returns for the most recent 2 years, including all schedules. The mortgage applicants business tax returns for the most recent 2 years must also be obtained unless the following criteria are met:
• individual federal income tax returns show increasing Self-Employment Income over the past 2 years;
• funds to close are not coming from business accounts; and
• the mortgage to be insured is not a cash-out refinance.

A year-to-date Profit and Loss (P&L) statement and balance sheet must be obtained if more than a calendar quarter has elapsed since date of most recent calendar or fiscal year-end tax return was filed by the borrower. A balance sheet is not required for self-employed mortgage applicants filing Schedule C income. If income used to qualify the mortgage applicants exceeds the 2 year average of tax returns, an audited P&L or signed quarterly tax return must be obtained from the IRS.

For Self employed Commission Income less than or equal to 25 percent of the mortgage applicants total earnings, the lender must use traditional or alternative employment documentation.  For Commission Income greater than 25 percent of the borrower’s total earnings, the lender must obtain signed tax returns, including all applicable schedules, for the last 2 years.

For both Self-Employment and Commission Income, in lieu of signed individual or business tax returns from the borrower, the lender may obtain a signed IRS Form 4506, Request for Copy of Tax Return, IRS Form 4506-T, Request for Transcript of Tax Return, or IRS Form 8821, Tax Information Authorization, and tax transcripts directly from the IRS.