Self Employed Portfolio Loan Programs
Self -Employed borrower portfolio loans use alternative credit underwriting guidelines for owner occupied or invesmtnet property purchase or refinance. Borrowers can cash out up to 75% of appraisal value. Borrowers must have credit scores above 640 and a strong asset base. Business with high sales but low profits which does not qualify for traditional financing may be eligible for a Portfolio Loan.
12 Monthly Business or Personal Bank Statement Program
We use the average deposits of the business (excluding transfers between business accounts) to calculate the borrower income. Business must be operating for at least two (2) years. No tax returns, minimum credit score 640+. Credit profile determines minimum down payment which start at 15% for primary residence.
Debt Service Coverage Loan (DSCR) in most 50 states
Investment properties can purchase or refinance investment property (1-4 units) with 15% down. DSCR loans can also be used for multi family residential properties up to 25 units. Loan amounts to $6 million. DSCR ratio is the gross rental income / rental expense ratio. Link to details of DSCR program
Complete an online inquiry form or call us at 908-722-9217.