Mortgage Solutions for Self-Employed
Successful business. Strong cash flow. Tax returns don't show the whole picture?
At MGB Financial Services, Inc., we understand that self-employed borrowers and business owners often have strong income and assets, yet their tax returns may not reflect their true cash flow because of legitimate business deductions.
A Bank Statement Loan provides an alternative way to document qualifying income by using eligible personal or business bank statements, rather than relying solely on traditional W-2 income or tax returns.
Bank Statement programs may be an option for:
Instead of traditional income documentation, eligible borrowers may use a specified period of personal or business bank statements to demonstrate qualifying cash flow.
The lender reviews eligible deposits and other required documentation to calculate qualifying income according to the specific program's underwriting guidelines.
Bank Statement loans require more than simply adding up deposits.
With our mortgage underwriting experience, MGB can review your overall financial profile, evaluate documentation requirements, identify potential issues early, and help determine which available financing program may be appropriate for your circumstances.
Your tax return may tell one story. Your business cash flow may tell another.
Let us look at the complete financial picture.
Find out whether a Bank Statement Loan Program may work for you.
Have questions before applying?
We're here to guide you through the process from initial review through closing.