Bank Statement Loans: Two Real Deals That Almost Fell Apart (And How We Saved Them)

 

Self-employed borrowers often have one major challenge when qualifying for a mortgage:

Their tax returns don't always tell the whole story.

I recently had two transactions that could have fallen apart under traditional financing guidelines. In one case, tax returns had never actually been filed with the IRS. In another, a successful business owner had significant write-offs that reduced their qualifying income on paper.

Both deals were saved with a bank statement loan.

These programs allow us to qualify eligible borrowers using bank statements rather than relying solely on tax returns. In both cases, only 12 months of bank statements were needed.

If you're a Realtor working with self-employed buyers, business owners, independent contractors, or entrepreneurs, don't assume a deal is dead because the tax returns don't work.

There may be another solution.

📞 Tammie VanDeusen (719) 310-3438

Tammie VanDeusen NMLS #514878 Summit Lending NMLS #1850081

#BankStatementLoan #MortgageTips #RealtorTips #HomeLoans #SelfEmployed #RealEstate #MortgageLender #BusinessOwners #HomeBuying #SummitLending