Self Employed Mortgage Lenders have a few options but often they calculate a Self Employed Borrowers income by typically using 12 or 24 Month Banks Statements, with either one or the other, Personal or Business Banks Statements. The Income Calculation to determine income can vary due to expense factors each bank chooses to use.  Generally, that is based on the industry you work in and generally all income documentation options are viewed by our lending team. 

In addition we also review your last 2 years’ Fed Tax Returns, 1099’s, Personal and Business Banks statements, Liquidity details, equity details (or Purchase details), and credit score to make sure we discover the best terms and can issue approval.

While there are many factors such as are the deposits that flow thru the bank account “allowable or consistent” with the business, overdraft protection, and other factors, our loan team is well trained in this process to help tell you what we can do.. not what we can’t!

There are many Key Loan Details to consider in todays markets when comparing Loans and/or Lenders. We are here to help smooth that process out!