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Bank Statement Loans – How to make sense of them for Self Employed business owners and 1099 contract employees.

Bank Statement Loans – How to make sense of them for Self Employed business owners and 1099 contract employees.

What do these Bank Statement programs do and how do they work?  These programs represent a work-around of the stringent Federal “Ability to Repay” (ATR) rules that govern standard full documentation qualifying guidelines. This program is

Feb 26, 2024 | bank statement loan self-employed borrower

Self-Employed? How about a Full Doc Loan Without Tax Returns?

Self-Employed? How about a Full Doc Loan Without Tax Returns?

If you are a self-employed business owner or a 1099 worker qualifying for an owner-occupied loan can be difficult.  You pay your accountant and after all of your expenses you either show a business loss or insufficient income to qualify.  It would seem th

Jul 14, 2022 | self-employed borrower Jefferson Mortgage Group bank statement loan cashflow

Self Employed Borrower Success Story

Self Employed Borrower Success Story

Over my entire career in the mortgage field, self-employed borrowers always stand out as the more challenging opportunities.  The self-employed borrower often finds themselves in a tug of war between their accountant’s guidance and the demands of the mort

Nov 09, 2018 | Non QM self-employed borrower QM Specialized Forward Mortgages bank statement loan mortgage Mortgage Loan Process

Self-Employed Workers Face Mortgage Hurdles - WSJ Article

Self-Employed Workers Face Mortgage Hurdles - WSJ Article

It is true that the Self Employed borrower normally hits a wall when it comes to qualifying for a mortgage when asked for their Federal tax returns. The process by which your accountant works their magic is the often the exact opposite of what the lenders

Apr 19, 2018 | self-employed borrower bank statement loan Mortgage Loan Process Traditional Mortgage Age in Place Business Cash-flow Specialized Forward Mortgages cashflow

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