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Loans on one-unit properties in most of these higher-cost counties have a $726,525 limit that is 150% of the baseline loan limit. Other mortgages Plaza added to its line-up recently include a single-close construction loan and a non-QM product that allows bank statements to be used for qualifying income.
Apply for a Non-QM loan from one of the fastest growing lenders in the Industry. Call 800-216-1723 to learn more about our Non qualified mortgage loans.
Bank Statement Loans | Self-Employed Home Loans – Getting a mortgage when you’re a business owner can be tough. But it shouldn’t be impossible. Bank statement loans might be your best solution to consider if you’re a business owner looking to buy or refinance a home.. When you’re self-employed you do your best to take full advantage of the tax write-offs you’re entitled to.
PLAZA HOME MORTGAGE EXPANDS ITS SOLUTIONS NON-QM PROGRAM Enhancements Include New Bank Statement Options . SAN DIEGO, Calif., – April 2, 2019 – Plaza Home Mortgage, Inc., one of the nation’s leading wholesale and correspondent mortgage lenders, today announced it has expanded its Solutions Non-QM program to allow brokers and correspondent.
Plaza Home Mortgage announced this week that it is rolling out an expanded non-QM lending program that will "allow brokers and correspondent lenders to qualify more non-traditional borrowers."
The Plaza Home Mortgage Solutions Non-qm program offers the ability to use business or personal bank statements to determine qualifying income for self-employed borrowers. This Quick Step Guide provides directions on how to submit bank statements to Plaza for review and determination of the monthly income.
Bank Statement Program – MortgageDepot.com – Scenario 3 – You Only Use business bank statements to Qualify your Loan. Borrower provides business bank statements for the most recent 12 consecutive months; Borrower provides a Profit & Loss (P&L) statement prepared by a CPA or a Licensed Tax Preparer; The business bank statements must reflect deposits no less than 5% of the revenue stated.
Currently, non-QM lending is in the early stages, and I’d say lenders are just dipping their toes in the non-QM loan pool at the moment. Many mortgage borrowers qualified for non-qm loans and bank statement mortgage loans for self employed borrowers prior to the 2008 Real NON-QM Mortgages are now back and are becoming increasingly popular.