How Does My New Program Benefit Self-Employed Borrowers?

How does my new program for self-employed borrowers work?

Basically, this is a bank statement program. What we do is take 12 months’ worth of bank statements, add them up, divide by 12, and use those deposits. Banks have an expense factor they apply toward the deposits, and that expense factor is for each individual industry. They then use that percentage to solve what they can use for the income and apply that on the application. To qualify, you have to have a 25% or greater share of ownership in your business.

This is a program that was around prior to the meltdown, and now it’s back. To make it even better, it is back with a bank I trust and do a lot of business with.

This will help a lot of self-employed people in the state of Maryland buy a home or refinance.

We already have people reaching out to us about this program, so if you know anyone who could benefit from it, give me a call, send me an email, or message me on Facebook.

If you have any other mortgage questions, feel free to reach out to me as well. I’d love to help you.