Blog

Realtor Coffee Talk 08/12/17: Bank Statement Loans are Back

Non-traditional financing is back! We are now able to serve various borrowers that may not have been able to qualify for a loan. Below are several examples, please call us, we probably have a loan program that will help your client.

  • Bank Statement Loans- This is a solution for self-employed. Simply have your client bring their business and personal tax papers as well as business statements, and we can help.
  • Foreign Nationals- Loans can now be made to those that may not have a Social Security number or other background information (please note they do need to qualify under the terms of this program)
  • People with past financial issues. We have programs for those that may have been affected in the past by bankruptcy or foreclosure.
  • Investor Cash Flow- We have a new program that works on debt-servicing the deal. This is similar to a commercial loan in that it is based on the property.

These new programs will help your pipeline get additional life for those that may not qualify for traditional financing.

Stay In The Know

Stay up to date on what you need to know about market changes and how that impacts a home mortgage.