Non-QM Self Employed

We have options for all self-employed buyers

• 2 consecutive years 1099’s or
• 3 months business checking account statements or
• 12 months business checking account statements or
• 24 months business checking account statements or
• Asset Depletion

 

Guidelines for each program:

1099 program

• Must be the same business or same type of business
• 660 middle credit score requires 20% down payment
• 720 middle credit score only 10% down payment

 

3 months business bank statements

• 740 credit score required,
• 30% down payment, 50% business expense ratio

 

12 & 24 months business bank statements

• 640 to 720 middle credit score
• Requires 20% down payment, 720 or higher middle credit score
• Only requires 10% down payment, 50% business expense ratio

 

Asset Depletion

• 700 minimum credit score, must have assets equal to or more than the mortgage amount (Stocks, Bonds, Securities, Checking, Savings, Mutual Funds, etc…..)
• 740 or lower credit score requires 30% down payment,
• 740 or higher credit score only requires 20% down payment