Bank Statement Loan (Self-Employed)

Program Overview:

Legions Capital understands that a self-employed borrower's bank account is the most accurate reflection of business health. This program qualifies individuals based on actual cash flow and deposits rather than taxable bottom-line income. It is designed for business owners with at least 25% ownership who require their true liquidity to drive the mortgage approval.

Broker Advantage:

• Cash Flow Based: Use 12 or 24 months of deposits to prove repayment ability, bypassing "net income" limitations.
• Leverage: Secure a primary residence with as little as 10% down (90% LTV).
• Expense Factor Flexibility: Utilize a standard 50% factor or provide a CPA letter to justify a lower ratio, maximizing qualifying income.
• Use the "CPA Save": Efficient businesses can lower expense factors with a CPA letter to increase qualifying income.

Highlights:

• FICO: Flexible credit options starting at a 620 FICO.
• LTV (Purchase): Up to 90%.
• LTV (Cash-Out): Up to 80%.
• Ratios: Standard 50% DTI limit.
• Loan Amounts: Access capital up to $4,000,000.
• Gift Funds: Acceptable after a 5% contribution from the borrower's own funds.
• Documentation: Personal or business bank statements; no tax returns required.