a&d mortgage finals june 2020 · • 1 bank reference letter and 1 credit reference letter from...
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PROGRAM HIGHLIGHTS:
• 12/24 months complete business bank statements from the same account
• Borrower must only own at least 25% of the business
• Business/personal bank accounts addressed to a DBA, or personal
accounts with evidence of business expenses may be used
• 3 expense ratio methods: 1) Standard Expense Ratio (50 %) 2) Expense letter from borrower’s CPA or licensed tax preparer 3) P&L statement prepared by CPA or licensed tax preparer
• Eligible Paypal deposits ok
• 3 NSFs ok Overdraft Protection ok
PROGRAM HIGHLIGHTS:• Letter from a Foreign CPA or letter from employerproviding income for the last 2 years and YTD earnings
• 1 bank reference letter and 1 credit reference letter fromfinancial institution
• No Income Option, DSCR = 1007 rent / PITIA
• Max DTI 43%
• Foreign National borrowers (any country allowed)
FOREIGN NATIONALSLETTER FOR INCOME OR NO INCOME LTV - UP TO 65% FROM $ 100 000 TO $ 2 000 000