QKMortgage.com Qualify First Time Buyer with 1 Year Bank Statement Mortgage Loan
Bank statement loans are very helpful loan program for business owner or self-employee who shows low income on their tax return. There are no tax returns required when applying for the bank statement loan program.
August 30, 2016 ( datsyn.com) – Getting a loan for mortgage or for home purchase can be extremely difficult for a self-employed person, however with the help of QKmortgage.com, owning a resident home is no longer an impossible goal. All that required from any borrowers is to provide 12 months of bank statements for income verification purpose. This low doc loans also call bank statement loans is only available for California properties purchase.
First Time Buyers Are Welcome
Most of Qkmortgage.com program are gearing toward investors with their stated income loans program. The bank statement loan program is the only loan program that welcomes variety of buyers, including first time homeowner. All that required for the loan eligibility is to have a 12 months bank statements record showing income flow. The max loan limit will be determined based on the average cash flow per month.
A senior agent at Qkmortgage.com disclosed, “We only offers this program to investors or homeowners who wish to purchase properties in California.” Funding for the home will be based on a proven cash flow per month into borrower bank account. Loans are often going to be available for a business owner that is trying to find their footing in life.
Other Requirements for Bank Statement Loan
Beside the basic requirement of a proven 12 months bank statement, borrowers must have credit history and is clear from bankruptcy.
What About Borrowers Who Do Not Have 12 Month Bank Statement Income?
Borrowers who do not have a proven 12 months bank statement income can apply for “stated income home loans”. Stated income home loans allow investors to qualify for a mortgage loan without the need of providing income tax or other long term income statement.
Stated income loan program is limited to only investor or home buyers who purchase a property to rent out for extra income or not going to occupy the property. First time buyers are not welcome for this loan program.
Another important requirement for stated income loan is that borrower must afford minimum of 30% down payment and have a minimum credit score of 650.
Qkmortgage.com offer stated income loan to California, Nevada, Florida, Texas, and many other states.
For more information about loan eligibility and requirement, visit qkmortgage.com/stated-income-home-loans/
QK Mortgage is part of Maxim Real Estate Group Inc., which is a CA BRE licensed Real Estate Broker. QK Mortgage specializes in stated income loans where borrowers can get quick loan approvals without a need to submit income verification documents. With a minimum credit score of 600, individuals can now be eligible for a home loan with an affordable interest rate payment.