One of our recent closings highlights the power of bank statement loans, especially when multiple income streams are involved.
Scenario: Self-Employed Borrower with Multiple Business Accounts
Our borrower is a self-employed business owner operating with multiple business accounts. Like many entrepreneurs, their tax returns did not accurately reflect their true earning power, making conventional financing difficult. The goal was clear: Access equity from their primary residence through a cash-out refinance while maintaining manageable monthly payments.
Our Solution: Bank Statement Loan with Interest-Only Option
Using our bank statement loan program, we analyzed cash flow across multiple business accounts. Bank statement loans remain one of our core solutions, especially for self-employed borrowers with non-conventional income structures.
- Properly calculate qualifying income
- Structure a high loan amount
- Keep the borrower’s monthly payment lower with an interest-only option
Loan Details
- Location: Lomita, CA
- Loan Program: 30-Year Fixed Interest-Only (Bank Statement Program)
- Loan Amount: $1,382,000
- Transaction Type: Cash-Out Refinance
- Property Type: Single-Family Residence (Primary)
- Loan-to-Value (LTV): 60%
- Credit Score: 662
- Loan Term: 30-Year Fixed with Interest-Only Payments
Contact us to discuss your scenario and how we can help you get financed.
