Stated Income Loans are a thing of the past thanks to Dodd Franks ability to repay which requires the lender to prove that the buyer has the ability to repay the loan. But don’t worry there is still hope for self employed or people with high assets and low income. Here are a few ways we can fund your loans without 2 years tax returns!
1 year tax returns program- Yep even for self employed if your two year average is killing you we will use most recent year and YTD profit and loss statement
24 month bank statement- We will add up the deposits in your personal account for the last 24 months and use that as income
12 month bank statement- We will use 12 months of bank deposits as income
3 month bank statement- Give us a profit and loss and 3 months statements and you qualify!
Asset depletion- We use your assets as income and add it to any income that you claim on your tax returns
Ability to repay in full- You have enough cash to repay the loan and that’s all you have to prove!
Investor Loan- Use the rental income to cover the mortgage payment and we won’t even ask about other income or expenses!
Cross Collateral Loans- Need some equity from another property as a down payment, no problem!
Finding the right investor for your loan is what we do best. We have a great understanding of this market and what loans will best suit your needs.