Elite Lending’s Bank Statement mortgage program is the perfect option for self-employed borrowers who need an alternative method to show the true cash flow of their business. Borrowers do not have to own 100% of the business.
- Loans up to $3 million, Minimum loan of $150,000
- 12 or 24 months business or personal bank statements
- 4 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
- Rates are 30-year fixed
- 2 years self-employed required
- Borrowers can own as little as 50% of the business for business bank statements and 25% for personal bank statements
- Purchase and cash-out or rate-term refinance
- Owner-occupied, 2nd homes, and non-owner occupied
- 1099 option available
- 40 year fixed interest only available
