Be An Expert For Self Employed Borrowers
Originators who aren’t prospecting for self-employed borrowers are missing out on volume others are earning monthly. Why would you miss out when others are having success easily closing Bank Statement loans every day?
Look at it this way. You most likely prospect for veterans because they need VA loans and you understand the potential size of that market. It’s the same premise for self-employed people and Bank Statement loans. Bank Statement loans are easy to close and the population of self-employed including 1099 earners is much larger than the number of veterans in the U.S.
If you haven’t tapped into the self-employed market you should and here is why:
- Self-employed borrowers, including gig workers and freelancers, account for 59 million people, or 36% of the population of all employees in the U.S. according to Upwork
- Bank Statement loans are specifically for self-employed borrowers who can’t qualify using tax returns
- Large population of people with good to excellent credit buying higher priced homes – average loan size is $550,000
Why Angel Oak Mortgage Solutions and Our Bank Statement Loan?
- Our Bank Statement loan is our most highly utilized mortgage product due to the demand in the market
- LTV to 90% and NO MI
- Only two years seasoning out of foreclosure, short sale, bankruptcy or deed-in-lieu
- Loans up to $3 million
- Credit scores starting at 640
- Clear to close under two weeks – it is quick and easy to do
- Our bank statement review team completely reviews, analyzes and calculates income for you saving you time