Northstar Funding is rated as an A+ Lender by The Mortgage Reports, a leading resource for borrowers.

Bank Statement Mortgage Programs for the Self-Employed are offered in California, Colorado, Connecticut, Florida, Georgia, Illinois, Maryland, New Jersey, New York, North Carolina, Pennsylvania, Oregon, Rhode Island, South Carolina, and Washington D.C.

NorthStar Funding offers a 24 Month Bank Statement Program, part of our bank statement loan program for self-employed individuals. Borrower Employment Types:

• Self-Employed – Must provide business license, Tax Preparer’s letter, or corporate paperwork.

We accept qualified incoming Bank Statements. However, qualified income will be calculated differently. Here are some examples: Personal Bank Statements: 100% of Deposits. Add all deposits over 24 months, then divide the total by 24 to calculate the monthly income. Ex. 24 months’ deposits total = $200,000 / 24 = $8,333 a month income. Business Bank Statements: 50% of Deposits. Add all deposits for all 24 months, divide by 2, and then divide by 24 to receive the monthly income amount we will give to the borrower. Ex. 24-month deposit total = $500,000 / 2 = $250,000 / 24 = $10,333 a month income.

The AltQM™ Series makes it possible to say yes.

AltQM™ INVESTOR | AltQM™ AGENCY PLUS | AltQM™ ALTERNATIVE DOCUMENTATION

Purchase | Rate/Term refi | Cash Out refi

For high net worth or self employed borrowers, the AltQM™ Alternative Documentation program features reasonable qualification based on either bank statements or eligible assets.

Program Highlights

Asset Qualification For High Net Worth Borrowers

• Min FICO 680
• Loan amount $100K to $3M
• Max cash out $1.5M
• Income qualification based on verified liquid assets
• 15 & 30 year fixed; 5/1, 7/1, 10/1 ARMS
• Employment income is not required to be disclosed on the 1003
• Full asset documentation required for funds to close, reserves, and qualifying asset requirements
• Assets can be cash in the bank, stocks, bonds, IRAs, 401ks, mutual funds,s or retirement accounts
• Asset levels in the verified accounts are expected to be consistent and sustained

Bank Statements for Self-Employed Borrowers

• Min FICO 680
• Loan Amount $100K to $3M
• Max cash out $1.5M
• Bank statements with or without asset amortization
• W-2 co-borrower ok
• W2 co-borrower income and employment are traditionally verified
• Personal or business statements
• DTI up to 50% (see Qualifying Rate and Ratios)
• P&L statement required if business & personal accounts are combined
• Statements for the most recent 12-month period are required
• Assets must be fully documented
• Retirement income is eligible for verification (e.g., 1099, award letter).

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