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TEXAS SELF EMPLOYED-BANK STATEMENT MORTGAGE LENDERS

TEXAS SELF EMPLOYED-BANK STATEMENT MORTGAGE LENDERS

Many Self-employed business owners agree that their tax returns do not accurately show their ability to make a mortgage payment. The self-employed borrower tends to write off and or deduct many expenses that a salaried / W2 employee is not able to. Because of the extensive write-offs, the income on their tax returns may not qualify for a traditional bank mortgage to purchase and or get the loan amount they need to purchase the home of their dream. Bank statement mortgage lenders provide an alternative income solution offered by certain bank statement only mortgage lenders to help self-employed borrowers qualify for a mortgage with NO TAX RETURNS!

TEXAS 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)

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BANK STATEMENT ONLY MORTGAGE TEXAS– NO TAX RETURNS REQUIRED.

self-employed borrowers bank statement only loan

  • 12 Months of Personal Bank Statement Loan Program

Borrower(s) provide 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

Borrower(s) 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 BANK STATEMENT ONLY MORTGAGE LENDERS – NO TAX RETURNS REQUIRED.

Qualifying for the Bank Statement Only Mortgage Loan

Available only to the self-employed business owners, or for two or more borrowers where one or more of the borrowers is self-employed for at least the last  (2) two years. This is a great solution for commissioned and 1099 Texas 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. Texas 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 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. TEXAS SELF EMPLOYEDBank Statement Only Lenders Approvals varies Case By Case from lender to lender.
  • MAXIMUM INCOME USED FOR BUSINESS BANK STATEMENTS For business bank statements only lenders will allow as much as 90% of the job-related deposits can be used for income qualifying, not 100%. Texas self-employed Bank Statement Only Lenders Approvals varies Case By Case from lender to lender.

The maximum “Debt to Income”(DTI) ratio is 55%. Self-employed borrowers with a lower debt to income ratio may receive better a better rate & pricing. Texas self-employed Bank Statement Only Lenders Approvals varies Case By Case from 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

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.

Refinance with cash back: 680+ credit = 75% financing;

REQUIRED SELF EMPLOYMENT DOCUMENTATION

All self-employed mortgage lenders are required to prove stability in the line of employment by providing a copy of their business license or “Articles of Incorporation” showing they have been self-employed in the most recent (2) two years OR have a licensed CPA or enrolled IRS agent draft a letter confirming the same. Texas 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 TEXAS SELF EMPLOYEDMORTGAGE 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 LENDERS LENDER ON PROPERTIES THAT INCLUDE: Condos, Townhomes, single family homes, condotel, duplex, triplex or four-plex all qualify on various programs. Property can be as a primary residence, second home, or rental property. Texas self-employed Bank Statement Only Lenders Approvals varies Case By Case from lender to lender.

BANK STATEMENT ONLY LENDERS TERMS INCLUDE – This 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. TEXAS SELF EMPLOYED Bank Statement Only Lenders Approvals varies Case By Case from lender to lender.

  • 2 Years Self Employed Required!
  • Bank statement deposits used to qualify!
  • No tax returns required.
  • 24 months personal bank statements (Personal and Business)
  • Loans up to $2 million.
  • Credit scores down to 500.
  • Rates starting in the 5’s.
  • Up to 85% LTV.

Texas-Bank Statement Only Mortgage Lenders – FHA mortgage lender

https://www.fhamortgageprograms.com/texas-bank-statement-mortgage-lenders/

12-24 month texas bank statement mortgage lenders program

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12-24 Months Personal/Texas Business Bank Statements; We can use either Texas Profit & loss statements or Texas Expense Factor; Near or Non-Prime Programs; Texas Bank Statment Loans Up to 90% LTV for 720+ FICO Personal BankTexas Bank Statment Loans Up to 85% LTV for 660+ FICO Personal BankTexas …

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TEXAS BANK STATEMENT ONLY MORTGAGE LENDERS DETAILS INCLUDE: 2 Years Self Employed Required! Bank statement deposits used to qualify! No tax returns required. 24 months personal bank statements (Personal and Business) Loans up to $2 million. Credit scores down to 500. Rates starting in the 5’s. Up to 85% LTV.

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15% DOWN+TEXAS BANK STATEMENT MORTGAGE LENDERS

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Dec 27, 2017 – PORTFOLIO MORTGAGE LENDERS 10%DOWN+BANK STATEMENT TX MORTGAGE LENDERS TexasBank Statement Only Jumbo Mortgage Lenders 12 or 24 Month Texas Bank StatementHome Loan Program. For Texas Self Employed Texas Bank Statement Only (Personal or Business) No Tax …

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https://www.fhamortgageprograms.com › FHA › Florida

Are you Texas self-employed or 1099 wage earner and having a hard time getting pre approved for aTexas mortgage? We know the story. They have a great top line, but after the accountant works their magic there isn’t much adjusted gross income left to by a Texas home. Texas Bank Statement OnlyMortgage Lenders

https://www.fhamortgageprograms.com › FHA › Florida

12-24 MONTH TEXAS BANK STATEMENT MORTGAGE LENDERS PROGRAM 12-24 Months Personal/Texas Business Bank Statements We can use either Texas Profit & Loss Statements or TexasExpense Factor Near or Non-Prime Programs Texas Bank Statment Loans Up to 90% LTV for 720+ FICO Personal Bank …

TEXAS STATED INCOME MORTGAGE LENDERS PROGRAMS

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TEXAS STATED INCOME MORTGAGE LENDERS PROGRAMS – Stated income Texas mortgage lenders Bank Statements For Income. Same Day Approvals Call Now 954-667-9110.

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TEXAS STATED INCOME MORTGAGE LENDERS SUMMARY! No tax returns required.Bank statement deposits used to qualify.Bus or personal bank statements Credit start 600’s. Same Day Pre Approvals! Call Now 954-667-9110.

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3.5% DOWN FHA/VA JUMBO BAD CREDIT TEXAS MORTGAGE LENDERS with min 580 Fico. Same DayTexas Pre approvals! Call Now 954-667-9110.

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BANK STATEMENT ONLY MORTGAGE LENDERS– Use 24 month bank statement deposits to qualify for a mortgage!

Texas Self Employed Mortgage Lenders Cities:
Texas Cities with populations over 10,000 include and are not limited to: Abilene, Alice, Alvin, Amarillo, Andrews, Angleton, Arlington, Athens, Bay City, Beaumont, Beeville, Belton, Big Spring Self Employed Mortgage Lenders, Borger, Brenham, Brownsville, Brownwood, Bryan, Burkburnett, Canyon Self Employed Mortgage Lenders, Carrollton, Cedar Park, Cleburne, College Station, Conroe, Converse, Copperas Cove, Corpus Christi Self Employed Mortgage Lenders, Corsicana, Dallas Self Employed Mortgage Lenders, Del Rio, Denison, Denton, Dumas, Eagle Pass, Edinburg, El Campo, El Paso, Ennis, Fort Worth Self Employed Mortgage Lenders, Freeport, Gainesville, Galveston, Gatesville, Georgetown, Greenville, Groves, Harlingen, Henderson Self Employed Mortgage Lenders, Hereford, Hewitt, Houston Self Employed Mortgage Lenders, Humble, Huntsville, Ingleside, Irving, Jacksonville, Kerrville, Kilgore, Killeen, Kingsville, La Marque, Lake Jackson, Lamesa, Laredo, Levelland, Lewisville, Live Oak Self Employed Mortgage Lenders, Lockhart, Longview, Lubbock, Lufkin, Mansfield, Marshall, McAllen, McKinney, Midland, Missouri City, Mount Pleasant, Nacogdoches Self Employed Mortgage Lenders, New Braunfels, Palestine, Pampa, Paris, Pasadena, Pecos, Plainview, Plano, Port Arthur, Port Lavaca, Portland, Richmond, Rio Grande City Self Employed Mortgage Lenders, Rockwall, Roma, Round Rock, San Angelo, San Antonio, San Benito, San Marcos, Seguin, Sherman, Snyder, Socorro, Stephenville, Sugar Land, Sulphur Springs, Sweetwater, Taylor, Texas City, Tyler, Uvalde, Vernon, Victoria, Vidor, Waco, Waxahachie and Wichita Falls.

Taxable Entity Search – Texas Comptroller eSystems

https://mycpa.cpa.state.tx.us/coa/

Search. Tax ID. Use the 11-digit Comptroller’s Taxpayer Number or the 9-digit Federal Employer’s Identification Number. OR. Entity Name. OR. File Number. Use the File Number assigned by the TexasSecretary of State.

Texas Secretary of State

https://www.sos.state.tx.us/

Popular Business Links. SOSDirect · File and Search business documents. Business & Nonprofit Forms ·Business Filing Tracker · Certificate Verification · Health Spa Closings · Human Trafficking PreventionBusiness Partnership Program …

SOSDirect – An Online Business Service from the Office of the …

www.sos.state.tx.us/corp/sosda/

Submit your Letter of Verification from the Texas Veterans Commission, Comptroller Certification Form, and Certificate of Formation to the secretary of state by … Enhanced search capabilities for businessorganizations including searching by entity name, name of person listed as a registered agent, officer or director of a …

https://www.sos.state.tx.us/corp/publicinfo.shtml

Telephone: 512-463-5555, No fee. Facsimile: 512-463-5709, $5.00 per entity. E-Mail: corpinfo@sos.texas.gov, No fee. Mail: Corporations Section Secretary of State P.O. Box 13697. Austin,Texas 78711-3697. $5.00 per entity. Online Access: SOSDirect, $1.00 per search …

About the Corporations Section – Texas Secretary of State

www.sos.state.tx.us/corp/

Information on the Texas Business Organizations Code, Forming a Corporation, Filing a Trademark.

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