Anyone had experience using bank statement mortgages and what to expect from an increased rate standpoint?

› Forums

Tagged: 

  • This topic is empty.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • June 6, 2023 at 6:13 pm #82981 Reply
    James

      Small business with on-paper losses in 2022 leaves it in an awkward situation for traditional qualifying — despite being strong 2021/2023.

      Primary residence non-rental single family is the target. High credit score.

      Any pitfalls or things to watch out for? Any other auxiliary advice I should be aware of?

      June 6, 2023 at 6:14 pm #82983 Reply
      Michael

        2022, did you pay yourself? Some writeoffs can be factored back in. Find a good mortgage broker in your area!

        June 6, 2023 at 6:14 pm #82984 Reply
        Michael

          Somewhere around 8.25 if I had to take a guess. Non-qm is always at a premium and the current average rate is about 6.9.

          June 6, 2023 at 6:15 pm #82985 Reply
          Scott

            I was able to refinance using my assets via my bank.

            My, taxable income, is minimal, so they allowed me to use “bank statements” or brokerage statements, to refinance my mortgage.

          • Author
            Posts

          Related Topics:

          Viewing 4 posts - 1 through 4 (of 4 total)
          Reply To: Reply #82984 in Anyone had experience using bank statement mortgages and what to expect from an increased rate standpoint?
          Your information:




          Spread the love

          No related posts.