Northpointe’s bank statement program makes home financing simpler for self-employed borrowers. Borrowers may be able to qualify for a home loan using alternative documentation of 24 months personal or business bank account statements.
- Eligible for primary or secondary home
- Fixed and variable rate options available
- Eligible borrowers must be self-employed for 2 years
- Eligible for Loan Amounts up to $1M
- Loan to value up to 85%
- Minimum credit score of 680 and no derogatory event in the past 4 years
- Accountant prepared profit and loss statement is not required
- No minimum expense ratio
- Streamlined Income calculation utilized: Sum of 24 months of total deposits minus 24 of total withdrawals times percent ownership plus personal distributions
Additional resources available
All loans are subject to credit review and approval. This is not a commitment to lend.