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Business Bank Statement Elite

Credit scores starting at 660

Up to 90% LTV

Angel Oak’s Business Bank Statement Elite mortgage program is the perfect option for self-employed borrowers who need an alternative method to show the true cash flow of their business. Borrowers do not have to own 100% of the business. Our Business Bank Statement Elite program provides a loan solution to help borrowers qualify off their great credit history along with their Business Bank Statements.

  • Loans up to $3.5 million with a minimum of $150,000
  • 12 or 24 months business bank statements only
  • Foreclosure, short sale, deed-in-lieu or bankruptcy allowed if discharged for 48 months with no delinquencies since the discharge
  • Rates are 30-year fixed
  • Two years self-employed required
  • Borrowers can own as little as 50% of the business for business bank statements
  • Purchase and cash-out or rate-term refinance
  • Owner-occupied, second homes, and non-owner occupied
  • 40 year interest only available
  • Most loans will be qualified on an expense factor of 50%. Companies with a lower expense factor will require a statement from a third party CPA or tax preparer. (Some industries with traditionally higher expense factors will be underwritten with a 70% expense factor.)

What is the benefit to originators who use non-QM loan products?

Originators who utilize non-QM offer a service that their competition may not offer. They become an expert and go-to for the non-QM borrower. The benefit is increased referrals and business growth despite changes in the market. Continue to increase your volume each year regardless of fluctuating interest rates, tighter Agency guidelines, and a slowing refinance market.

Additional Program Options

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