Skip to main content

Learn How To Increase Closed Loans

How often do you start each year or month by going for low hanging fruit, which in the mortgage industry is thought to be easy to close Agency loans? Not a bad strategy except it’s the same one every other originator has. Why not go after low hanging fruit others might not know about? Self-employed borrowers who need Bank Statement loans. There is a huge population of self-employed including gig workers and 1099 earners.

Many self-employed borrowers are A-paper with one exception – their tax returns may not allow them to purchase the home they can afford. Purchase power is diminished due to the allowed tax deductions they take. Originators in the know add four to five additional loans a month closing self-employed borrowers utilizing a Bank Statement product. 

Knowing how to do a Bank Statement loan and where to prospect for self-employed borrowers is a great way to start the year! We can help with that. Call us to find out how – we can even schedule a presentation for your Realtors so they can send self-employed clients your way.

Bank Statement Highlights:

  • Credit scores starting at 600
  • Up to 90% LTV, no MI
  • 12 or 24 months personal or business account statements – no tax returns required
  • Two years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
  • Bank statement review team reviews, analyzes and calculates income for you

Learn More