NON-QM And Bank Statement Loans For Self Employed Borrowers


NON-QM And Bank Statement Loans For Self Employed Borrowers

This BLOG On NON-QM And Bank Statement Loans For Self Employed Borrowers Was UPDATED On June 27, 2017

The Gustan Cho Team are experts on the following loan programs:

  • FHA Mortgages
  • VA Mortgage Loans
  • USDA Loans
  • Conventional mortgage loans
  • Reverse mortgage loans
  • No Doc Fix and Flip Loans
  • No Doc Investment Property Loans
  • Non-QM Loans
  • Bank Statement Loans For Self Employed Borrowers

We are known nationally for its no lender overlays and specialize in bad credit mortgage loans.

  • For those who have credit scores under 600 FICO, I am able to secure them a FHA insured mortgage loan at competitive mortgage rates. 
  • For mortgage loan borrowers who have credit scores between 530 FICO and 580 FICO, I can approve them for a mortgage loan with a 10% down payment. 
  • For those mortgage loan borrowers with credit scores over 580 FICO,  the minimum down payment required is 3.5% down.

Portfolio Loan Programs Offered: 2017 Portfolio Program Update

A good percentage of my mortgage business is portfolio loan programs.  Below are the portfolio loan programs that I can offer to portfolio loan borrowers:

  • Jumbo Portolio Loan Programs: Adjustable rate mortgages up to to $ 3 Million with a credit score of 680 FICO score (over $ 3 Million Jumbo Loans are underwritten by exception) in all 50 states with no restricted markets.
  • 12 months Bank Statement Mortgage Loans for self employed borrowers with 20% down payment.
  • With Bank Statement Loans, deposits are averaged and used as monthly income.
  • Withdrawals do not count.
  • NON-QM Loans does not require any waiting periods after bankruptcy, foreclosure, deed in lieu of foreclosure, short sale.
  • Deferred Student Loans are exempt on NON-QM Loans.
  • NON-QM Loans on Jumbo Mortgages down to 600 FICO.
  • Non-Warrantable Condos to 80% LTV with virtually no restrictions – can lend on the 1st unit sold (leaseholds okay)
  • Condo-Tels & Co-ops eligible (leaseholds okay)
  • Cash-out refinance to $ 1 Million Cash In Hand without seasoning  requirements (owned less than 6 months okay)
  • ExPatriot Portfolio Loan Program offers financing to 80% LTV for foreign Citizens working in US on Employment Visa w/ no SSN, TIN or US Credit
  • Primary Residences & 2nd Homes – Income Producing 2nd Homes Okay (investment properties considered case-by-case at max 50% LTV)
  • Acreage Okay – over 10 acres permitted, even if income producing
  •  Unique properties allowed with reasonable comps
  • Asset based Underwriting for Borrowers age 59 ½ and older
  • Arbitrary bonus income often permitted for Borrowers starting a new job, in same line of work, with a detailed compensation plan/letter      
  • 90% CLTV for SFR, Primary Residence refinances when 2nd is subordinated, up to combined loan amount of $ 1,500,000
  • Number of financed properties is not capped, but reserve requirements apply to each property owned.

Private Money Loans And Hard Money Loans

Gustan Cho Associates now offers Private Money Loans to real estate investors and consumers. Please contact Darren Herringshaw or Greg Kewin, Chief Operating Officer of the Private Lending Division of Gustan Cho Associates, Capital Network Group Inc. at 1-800-900-8569.  Private Money Loans and Hard Money Loans are ideal loan programs for real estate investors, property flippers, and those needing short term bridge loans.

Please keep us in mind – We are available 7 days a week, evenings, weekends, and holidays. Feel free to contact us toll free at 1-800-900-8569 or email us at

We are always available if you have any questions or would like to discuss a loan scenario.

Gustan Cho NMLS ID 873293

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