-
For the Self Employed/ Business Owner borrower, the proof of income from the business can be complex and even difficult for underwriters to decipher. Well intentioned Stated Income loans have been virtually eliminated except for investor loans in the United States. Preferred Home Lending has the perfect answer with our Bank Statement and Asset Depletion programs.
- Up to 10% down payment with no MI
- Loan Amounts to $2,000,000
- Use 12-24 months to establish income
- Can be used for Investment Homes
- Minimum credit score 620
- Non-warrantable condominiums
- 5/1 ARM and 30 Year Fixed options available
- No pre-payment penalties
- Asset Depletion which can also be used for the retired/unemployed borrower. We use certain retirement savings to calculate income!
