GEORGIA SELF EMPLOYED MORTGAGE LENDERS
Many Georgia Self-employed business owners agree that their tax returns do not accurately show their ability to make a mortgage payment. The Georgia self-employed borrower tends to write off and or deduct many expenses that a salaried / W2 employee is not able to.The result of the extensive write-offs, the income on their tax returns may not qualify for a traditional Georgia bank mortgage to purchase and or get the loan amount they need to purchase the Georgia home of their dream. Georgia Bank statement mortgage lenders provide an alternative income solution offered by certain Georgia bank statement only mortgage lenders to help self-employed borrowers qualify for a Georgia mortgage with NO TAX RETURNS!
GEORGIA 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 600
- Rates starting in the 5-6% range.
- Up to 85% LTV
- DTI up to 50% 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)
GEORGIA BANK STATEMENT ONLY MORTGAGE– NO TAX RETURNS REQUIRED.
Georgia self-employed mortgage lenders bank statement only loan
- 12 Months of Personal Bank Statement Loan Program – Georgia mortgage applicants 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 – Georgia mortgage applicants 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- NO TAX RETURNS NEEDED!
Qualifying for the Georgia Self employed Bank Statement Only Mortgage Loan
Available only to the Georgia self-employed business owners, or for two or more borrowers where one or more of the Georgia borrowers is self-employed for at least the last (2) two years. This is a great solution for commissioned and 1099 Georgia 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. Georgia 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 Georgia 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. Georgia Bank Statement Only Lenders Approvals varies Case By Case from lender to lender.
- MAXIMUM INCOME USED FOR BUSINESS BANK STATEMENTS – For Georgia business bank statements only lenders will allow as much as 90% of the job-related deposits can be used for income qualifying, not 100%. Georgia self-employed Bank Statement Only Lenders Approvals varies Case By Case from lender to lender.
The maximum “Debt to Income”(DTI) ratio is 55% case by case determined by market conditions. Georgia Self-employed borrowers with a lower debt to income ratio may receive better a better rate & pricing. Georgia self-employed Bank Statement Only Lenders Approvals varies Case By Case from Georgia 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
Georgia 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.
Georgia Refinance with cash back: 680+ credit = 75% financing;
REQUIRED GEORGIA SELF EMPLOYMENT DOCUMENTATION
All Georgia self-employed mortgage lenders are required to prove stability in the line of employment by providing a copy of their Georgia business license or “Articles of Incorporation” showing they have been Georgia self-employed in the most recent (2) two years OR have a licensed CPA or enrolled IRS agent draft a letter confirming the same. Georgia 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 GEORGIA SELF EMPLOYED MORTGAGE 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 GEORGIA LENDERS LENDER ON PROPERTIES THAT INCLUDE: Condos, Georgia Town homes, Georgia single family homes, condotel, Georgia duplex, triplex or four-plex all qualify on various Georgia programs. Property can be as a Georgia primary residence, Georgia second home, or Georgia rental property. Georgia self-employed Bank Statement Only Lenders Approvals varies Case By Case from Georgia lender to lender.
BANK STATEMENT ONLY LENDERS TERMS INCLUDE – This Georgia 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. Georgia Bank Statement Only Lenders Approvals varies Case By Case from lender to lender.
GEORGIA BANK STATEMENT ONLY MORTGAGE INFO PAGES INCLUDE–
https://www.fhamortgageprograms.com/georgia-self-employed-mortgage-lenders/ Bank Statement Only Georgia Mortgage Lenders. Have a self–employed client who has had difficulty obtaining a mortgage? Georiga Mortgage Lenders Bank Statement Program allows self–employedborrowers the ability to qualify based on a 12 or 24 month average of deposits using their personal or Georiga business bank account …
STATED INCOME GEORGIA MORTGAGE LENDERS. Self–employed borrowers are required a minimum FICO score of 600 is considered other terms associated with bank statement only Georgia Mortgage forself–employed . They include: 15
Georgia Self Employed Mortgage Lenders Are you Self Employed? Having a difficult time difficulty obtaining a mortgage? Our Georgia Mortgage Lenders Bank Statement Program allows Georgia self–employed borrowers the ability to qualify based on 24 month average of deposits using their personal or business bank …
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https://www.fhamortgageprograms.com/no-income-verification-georgia-mortgage-len…US Mortgage Lenders is rising as the best choice for no income tax verification Georgia self employed mortgage applicants looking for No Income tax check mortgages. Our private Georgia mortgage lenders now offer stated Income mortgage loans with specific requirements in order to get that type of no income mortgage.
https://www.fhamortgageprograms.com/bank-statement-georgia-mortgage-lenders/The bank statement only mortgage loan program is for home buyers and home owners that have recently turned down by a local bank for lack of income reported. Self Employed Georgia mortgageapplicants can document their income by providing 12 months personal or 24 months business bank statements in lieu of …
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The Georgia individual income tax is based on the taxpayer’s federal adjusted gross income, adjustments that are required by Georgia law, and the taxpayers filing requirements.More Individual Income Tax Information: