Bank Statement Mortgage Lenders For Texas Self Employed!

Bank Statement Lenders From US Mortgage Lenders- Bank statement mortgage lenders were created for self employed individuals who cannot provide the standard tax returns used to qualify for a prime mortgage. Self employed bank statement loans instead are used to prove (ATR) ability to repay required by the 2010 Frank Dodd wall street reform act. These new bank statements only lenders allow Texas self employed mortgage applicants may qualify for a mortgage using bank statements instead of tax returns as a way to verify income. 
Getting approved for a self employed mortgage is much easier now that Bank statement mortgage lenders have resurfaced. We will walk you through everything you need to know about Bank statement mortgage lenders so you fully understand the path that self employed are taking to qualify for a mortgage.Serving All Texas Stated Income Including And Not Limited To: Fort Worth Texas Stated Income , Austin Texas Stated Income, Dallas Texas Stated Income , San Antonio Texas Stated Income ,  Houston Texas Stated Income 

Texas private mortgage lenders provides bank statement only loans in all Texas.  As a Texas mortgage company we have nationwide partnerships  different banks, lenders, private equity funds, and a nationwide  investor network and offer a large range of mortgage products you will not find at your local Texas bank. We have the ability, flexibility, and relationships with different lending  sources, that enable us to find the unique loan that fits your unique situation.

What Are Bank Statement Mortgage lenders?
Bank statement mortgage lenders  are specified as non qualified mortgages or  ( NON QM), and that means that bank statements mortgage  lenders are able to set their own qualification guidelines for self employed mortgage applicants rather than a uniform set of requirements being applied that all bank statement mortgage lenders use.
Meaning, as long as the bank statement mortgage lender can prove the borrowers ability to repay the qualification requirements are more flexible compared to standard conventional mortgage programs and might vary by bank statement mortgage  lender. Lenders might ask borrowers from different documents or apply a different debt-to-income ratio or credit score guidelines. Other lenders might allow lower down payments. What we recommend is that borrowers contact several different bank lenders in order to find the one that meets their needs the best.
Bank statements only mortgage lenders for self employed and the lender average 12 or 24 months bank statement deposits into their bank accounts to qualify for a mortgage.  The average monthly deposits are treated as income and no tax returns are needed to qualify.
In the past, self employed Bank statement mortgage applicants were able to find stated income loans or no doc loans easily. However, after the mortgage meltdown, the programs to help self employed Bank statement mortgage applicants disappeared. They had to qualify on their net income referenced on the tax returns . When taking all of the legal tax deductions into consideration, it became nearly impossible to qualify for a mortgage.
Now, Bank statement mortgage lenders for self employed are here and they are a safer and more realistic loan program that is good for both the Bank statement mortgage applicants and the lenders. This is great news for self employed individuals who are looking to finance their dream home.
Bank Statement Loan Program Information
With aBank statement mortgage lenders you are going to qualify based upon the 12-24 month bank deposits (depending upon the lender) into your personal and/or business accounts. The bank statement lenders want to see a consistent flow of money sufficient to qualify you for the bank statement mortgage.

Bank Statements Only Texas Mortgage Lenders have a LOWER Minimum Score and INCREASED LTV’s  

How long do I have to prove self employed to qualify for your bank Statement only loan program?

how long does it take to get a Pre Approval letter on a Bank Statement only mortgage?

what-if-im-self-employed-but-cannot-prove-i-have-been-in-business-for-at-least-2-years

What deposits are NOT used the qualify using bank statments only for income?

Can i deposit money into more than 1 bank account and still qualify the income?

Do i need rental history to qualify for a bank statement only mortgage loan?

Can i use down payment assistance for a NO Tax return bank statment only loan?

Whats your minimum loan amount for a bank statment only mortgage loan?

If I am Self Employed can I buy a house to rehab with a Bank Statement only loan?

Are Stated Income loans still available?

Why Do Most Mortgage Lenders Want A 4506T?

What advantages are there in getting a bank statment only mortgage loans?

How a Bank Statement Mortgage Lenders Work?

How long does it take to qualify and close on a bank statment only loan?

Can I buy a house without Tax Returns For Income Verification?

How long do you need to have a job to get a mortgage?

Can you Buy or Refinance a house with NO income?

Can I get a mortgage with NO income verification?

Can I Refinance A Mortgage Without Proof Of Income?

How much of a down payment do you need for a bank statement only mortgage?

How can i get approved for a mortgage if I am Self Employed?

Why should i apply for a bank statement only loan instead of a conventional mortgage if i’m self employed?

Whats The Minimum Downpayment For a self employed no tax return mortgage?

Do self employed mortgage lenders allow w2 co borrowers income to qualify?

If my account has over drafts or NFS can i still qualify for a bank statment only mortgage?

Whats the minimum credit score for a bank statment only loan?

Do I need tax returns to qualify for a mortgage?

Do no doc mortgage loans still exist for primary homes?

Can I use 24 months business bank statments and my spouse W2 income to qualify?

POPULAR SELF EMPLOYED MORTGAGE QUESTIONS

Bank Statements Only Texas Mortgage Lenders have a LOWER Minimum Score and INCREASED LTV’s  

600 mid score for 85%

660 mid score for 90%

• Purchase and or rate and term refinance.
• Must be self-employed for 24 months
• Minimum loan amount 150k
• 12 months Personal OR 24 months Business bank statements
• Cash-out available
• No tax returns

24 MONTHS PERSONAL BANK STATEMENT ONLY TEXAS MORTGAGE LENDERS

• Use 100% of the deposits
• Must provide 2 months business bank statements to verify where deposits come from.
• NO more than 6 NSF in the last 12 months.
• Minimum 640 FIco Score Prime Bank Statement Mortgage Lenders
• Minimum 600 fico for Standard Bank Statement mortgage Lenders

12 MONTHS PERSONAL BANK STATEMENT TEXAS MORTGAGE LENDERS

• 2 months business bank statements required
• 80% Loan to Value
• 4 years proof of self employment
• Prime bank statement mortgage lenders only

24 MONTH BUSINESS BANK STATEMENT TEXAS MORTGAGE LENDERS

• 24months business bank statements.
• Minimum 25% ownership in the business
• 3rd party CPA, Enrolled Agent, Or Reputable Bookery letter to verify experiences.
• MInimum 600 fico score
• Standard bank statement mortgage lenders only

ASSET EXPRESS TEXAS MORTGAGE LENDERS PROGRAM

• Liquid assets that total the entire principal balance with 5 years other expenses
• Excluding principal and interest on subject qualifies.
• All qualifying assets must be inthe  bank or brokerage account.
• Assets must be seasoned for at least 6 months.
• 75% Maximum Loan to value.
• Credit grades A,A-, B+

ASSET ASSIST TEXAS MORTGAGE LENDERS LOAN PROGRAM

• Liquid assets qualify for borrowers income with other income.
• Qualifying assets in the bank or brokerage account.
• Assets must be seasoned for at least 6 months.
• Credit grades A, A, B All parties on shared accounts must b on the loan.
• Owner occupied, 2nd homes, non owner occupied homes

LEASE AGREEMENT TEXAS MORTGAGE LENDERS PROGRAM

• Use lease agreements interest of schedule Es.
• 80% of the least agreement used as income
• Rents must be typical for the area
• Credit grates A, A-, and B.
• Owner occupied, 2nd homes, non owners occupied.

We currently offer (2) two loan options for Texas self-employed mortgage applicants. 

• Personal Bank Statements: Use 12 or 24 months bank statements. We count 100 percent of deposits as income.
• Business Bank Statements: Use 12 or 24 months bank statements. We count 50 percent of the deposits as income.

How Much Of A Mortgage Loans Can I Be Approved For?

You will be qualified for up to 55% total debt to your income.  We count the new mortgage payment, taxes. insurance and HOA and all minimum credit payments for all items on your credit report to include credit cards, car loans, student loans etc. You will also need 3 to 6 months of future payments in your bank account at closing.

How Bank Statement Mortgage Lenders Determine Your Monthly Qualifying Income

Texas mortgage lenders will average 12-24 months of Total Deposits (no refunds counted) of your Business (or) Personal  Checking Account, you cannot use both!.  That total allowable deposit count is divided by 12 or 24 to determine your  monthly qualifying income.  For personal bank accounts we use 100% of the qualifying deposits as long as the funds come from a business account.  For business bank account we can use up to 90% of the deposits.  If your expenses are less than the lender gives you then you have the option of providing an accountant letter.