Checklist for Self Employed Borrowers
Alpha Mortgage can help eligible self-employed borrowers purchase or refinance a home using only Bank Statements! A Bank Statement Loan Program allows personal and business bank statements to calculate income without requiring tax returns.
Purchase A Home With Alpha Mortgage Using Bank Statements!
You must be self-employed for a minimum of 2 years to qualify for this program.
Your credit score must be at least 600 to qualify.
Up to 90% LTV, no MI
12 or 24 months of PERSONAL bank statements (You must own at least 25% of the business for the past 2 years).
12 or 24 months of BUSINESS bank statements (You must own at least 50% of the business for the past 2 years).
Two years seasoning for foreclosure, bankruptcy, short sale or deed-in-lieu.
Loans are available up to $3 million (minimum loan $150,000).
No tax returns are required.
A 1099 option is available for this loan program.
*Not all self-employed borrowers will qualify. Additional documents may be required for eligibility.