Who Is eligible for a Texas Bank Statement mortgage loan:

• You must prove self-employment for a minimum 2 years.
• Must provide proof of 12-month rental history or and 1-6 months future payments in reserves.
• You must have at least 10% down.
• You must have 4-6 months of PITI reserves
• You may qualify with as little as a 12-months Texas Bank Statement mortgage.
• You must have a credit score of 600 or above to qualify.
• The minimum loan amount is $100,000, and the maximum loan is $5,000,000.

What is a Texas Texas Bank Statement mortgage Lender?

Texas Texas Bank Statement Mortgage Lenders   have taken over the traditional Texas Bank Statement mortgage income loans as an alternative for self employed Texas mortgage applicants who are unable to verify their income by providing the previous two years tax returns, W2s and pay stubs. These loans are called non-QM loans, nontraditional loans or expanded criteria loans that allow other forms of documentation to prove the ability to repay. Just as it sounds, a Texas Bank Statement mortgage loan allows the borrower to verify his or her income with Texas Bank Statement mortgages

Special Considerations By Texas Bank Statement Mortgage Lenders

• You can use either business or personal no commingling.
• Use 12 months business bank account or personal account depending on the lender.
• Deposits which are transferred from a business account into a personal account are OK.
• You may combine W2 income with Texas Bank Statement mortgage income as long as the income is not being counted twice.
• Foreign Texas Bank Statement mortgages and Foreign Assets may be considered and must be translated to English.

The Texas Bank Statement mortgage Loan Application Process

To apply for a Texas Bank Statement mortgage loan you would fill out our full mortgage application. Then provide your last 12 or 24  months’ worth of Texas Bank Statement mortgages from a personal or business bank account. Texas Bank Statement mortgage loans are processed through a manual underwriting process. This means the income is calculated by a person so the process can take 24 -48 hours.

What Documents Do I need for a Texas Bank Statement mortgage only Mortgage?

• Proof of income = Your most recent 12- or 24-months Texas Bank Statement mortgages Business or Personal Texas Bank Statement mortgages EVERY PAGE EVEN BLANKS in PDF labeled by month.
• PDF proof of down payment statement= 2 Months Texas Bank Statement mortgages to source funds..
• Proof of 2 years in the same business or line of work = To include business licenses or satisfactory evidence of self-employed to cover previous 24 months that could include: Articles of incorporation, 2 years of 1099 s, Business license more than 2 years or accountant letter stating more than 2 years in the same business.
• Obligations = Divorce decree, Child support or court order required payment statements. Only if applies.
• ID = Driver’s license, SS Card.
• Mortgage Statements = For rental properties including taxes and insurance statements. Only if applies.
• W2 or 1099= If you have separate W2 or 1099 income you would like to use to qualify please provide.
• Purchase and Sale Contact. Only if you have one.
• Verified Timely Rent Payments- For Purchases Only – Please send front and backs of checks clearing your account or wire transfer’s for the most recent 12 months to verity timely rental payments.

What Are the Advantages of a Texas Bank Statement mortgage Loan?

In summary, these are the advantages of a Texas Bank Statement mortgage loan:

• The lender can look at 12 or 24-month Texas Bank Statement mortgages.
• 30 Year Fixed Options.
• Texas Bank Statement mortgage only mortgage lenders do not need to look at your tax returns.
• Your income statements are made up of the average monthly income deposits.
• You can get a Texas Bank Statement mortgage home loan for as little as 10 percent down.
• You can do a cash-out refinance.
• You can borrow up to $5 million.
• Debt to income ratio up to 55 percent.

Eligibility Requirements for a Texas Bank Statement mortgage Loan?

Eligibility for a Texas Bank Statement mortgage requires total deposits minus disallowed deposits. This amount is then divided by the number of Texas Bank Statement mortgages, whether it is the 12 or 24 months statement.

Another option is that if the co-borrower is a W2 employee you can use a hybrid of W2 and tax return income from the co-borrower and Texas Bank Statement mortgage income from the borrower or assets from the co-borrower and Texas Bank Statement mortgages from the borrower. Non-QM loans can use multiples sources of blended incomes to qualify.

Deposits which are disallowed in regards to a Texas Bank Statement mortgage loan include transfers between bank accounts and cash or large deposits, which can raise a level of concern and may require a letter of explanation.

Texas Bank Statement mortgage lenders –  Texas Bank Statement mortgage lenders Mortgage Lenders Questions and Answer 

BANK STATEMENT+NO TAX RETURN TEXAS MORTGAGE
Serving ALL Texas – 2  Texas Bank Statement Lenders loan options 

• Personal Bank Statement mortgages: qualify using 100%  12 or 24 months bank statements.
• Business Bank Statement mortgages: qualify on 12 or 24 months average  Texas business bank statement deposits..

TEXAS BANK STATEMENT ONLY MORTGAGE LENDERS BENEFITS INCLUDE:

• 2 Years Self Employed Required!
• Owner-occupied, 2nd homes, and investment properties
• 2 years seasoning for foreclosure, short sale, BK, DIL
• Non-warrantable condos considered
• Texas Bank Statement mortgage lenders deposits used to qualify!
• No tax returns required
• 12 months personal Texas Bank Statement mortgage lenders or 24 months Business Statements used for income
• Loans up to $3 million
• Credit scores down to 600
• Low Rates 
• Up to 90% Loan to Value!
• DTI up to 55% Debt To Income Ratio
• Jumbo loans down to 640 score
• 5/1 ARM or 30-year fixed
• No pre-payment penalty for owner-occ and 2nd homes
• SFRs, townhomes, condos, 2-4 units
• Seller concessions to 6% (2% for investment)

TEXAS CASH-OUT NO TAX RETURN MORTGAGE LENDERS 

• Texas Self Employed Get Mortgage Approval!
• FAST TEXAS BUSINESS Texas Bank Statement mortgage lenders BUSINESS LENDERS
• Bad Credit Self Employed Mortgage Lenders All Texas Including And Not Limited To: Fort Worth Texas, Austin Texas, Dallas Texas, San Antonio Texas,  Houston Texas

NO TAX RETURN BAD CREDIT NO TAX RETURN TEXAS USE Texas Bank Statement mortgage lenders FOR INCOME!

TEXAS BANK STATEMENT MORTGAGE LENDERS QUESTIONS AND ANSWERS