TEXAS SELF EMPLOYED MORTGAGE – INCOME PER BANK STATEMENT
Texas Bank Statement Only Mortgage Program Description: Ability to repay based on Texas mortgage applicants income documented by 12 to 24 Months bank statements depending on Borrower’s qualifications
Self Employed Texas Mortgage Lenders Summary
- Minimum 600 FIco
- No Tax Returns Needed!
- 12 months personal bank statements Or 12 months business bank statements
- Up to 50% DTI
- Up to 90% LTV
- Same Day Approvals!
- Products and Terms:
5/1 ARM: Fully Amortizing
5/1 ARM: With 7 or 10 year Interest Only period
7/1 ARM: Fully Amortizing
7/1 ARM: With 10 year Interest Only period
30 Year Fixed - Eligible Texas mortgage applicants: Self-employed Texas mortgage applicants who have operated the same business continually for 3 or more years
Maximum debt to cash flow ratio: 48% or less based on borrower’s monthly cash flow excluding extraordinary receipts, and net of business-related disbursements - Minimum credit score: 600, based on no less than three trade lines established for one or more years, no
history of foreclosure or bankruptcy over past four years, and no late mortgage or rental payments over
past two years - Self Employed Texas Mortgage Lenders Loan amounts and loan to value limits:
Purchase and rate & term refinance - Minimum 150k Loan Amount
- 80% to $750,000
75% to $1,000,000
70% to $1,650,000
65% to $2,000,000 - Acceptable occupancy: Primary and second homes (no investor occupancy properties) See guidelines for
second home LTV’s - Acceptable property types: Single-family and Fannie eligible condominiums
Required reserves: 4 monthsAcceptable Texas mortgage applicants: US Citizens and permanent resident aliens only
ARM re-prices at 1 year LIBOR + 3.99% subject to 5% Initial, 2% periodic and 5% lifetime caps.
Escrow for taxes and insurance
Self Employed Mortgage Lenders Pages Texas
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Texas Bank Statement only loans for self–employed Texas mortgage applicants who cannot qualify for a traditional Texas bank loan because of Texas business expenses. Self–employed Texas mortgage Lenders are perfect because while most Texas self–employed borrowers earn a solid income, they show a smaller net …
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Being self–employed in Texas comes with several benefits, such as setting your own hours and even working from home! There is one potential drawback, however. It can be more difficult for you to obtain a Texas mortgage than it is for people on salary. Take heart, though; while the process is more complicated and
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Sep 18, 2017 – FLORIDA SELF EMPLOYED MORTGAGE LENDERS 12 or 24 Months Business or personal BS only! When your bank says NO We … 6 TEXAS STATED INCOME MORTGAGE LENDERS PROGRAMS – Stated income Texas mortgage lenders
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https://www.Self Employedmortgageprograms.com/texas-bank-statement-mortgage-lenders/. 2 Years Self Employed Texas Bank statement deposits used to qualify! No tax returns required. 12 months personal bank statements or 24 months Business Statements Loans up to $3 million.Credit scores down to 600.Same Day Approvals …
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TEXAS PORTFOLIO MORTGAGE LENDERS – Self Employed mortgage lender
Portfolio Texas Non-Prime/ Recent Housing Event. • 1 day out of foreclosure, short sale, deed-in-lieu. • No BK seasoning in certain circumstances. • Up to 80% LTV. • Bank statement program for self–employed borrowers. • Credit scores starting at 500. • Non-Warrantable Condos OK. • Jumbo Loans down to 500 Credit Score.