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Northstar Funding’s Business Bank Statement program offers the ideal option for self-employed borrowers. We understand the complications of obtaining traditional mortgage financing using 2 years of tax returns as they often don’t accurately reflect business owners true cash flow. That’s why at Northstar Funding we have several simple business bank statement loan options that allow our borrowers to qualify. All business bank statement loan programs require NO TAX RETURNS.

Program Highlights

• Qualifying using 3, 12 or 24 months of business bank statements
• Loans can go to 90% Loan to Value
• Minimum Down Payment of 10% for qualified borrowers
• Loan Amounts up to $10 Millions
• 30yr Fixed Rate Options available
• Interest Only loan options available
• Credit scores down to 600
• Maximum Debt-to-Income Ration of 50% in certain instances
• Recent credit event allowed
• Purchase, Refinance and Cash-Out Refinance using Business Bank Statements
• Business Bank Statement Loan can be used for Primary, Secondary or Investment purposes
• Multiple business bank statement qualification options (See Below)
• Self employed for only 1 year OK in certain instances
• Only 25% ownership required

Business Bank Statement Loan Qualification Option 1: Default Expense Ratio

50% expense ratio – Allows borrowers to use 50% of their average monthly business deposits (Transferred between bank accounts are not allowed) as income. That means if you own 100% of your business and deposit $20,000 on average every month, your income for qualifying purposes will be $10,000

15% expense ratio for service related businesses – For consultants, attorneys, accountants, financial planners, insurance agents, etc. we will allow upto 85% of allowable business deposits

70% expense ratio for product based businesses – For construction, restaurant, retail, manufacturing and other product based businesses we will allow up to 30% of allowable business deposits

Business Bank Statement Loan Qualification Option 2: CPA Prepared Expense Ratio Letter or P&L

If the default expense ratio options don’t work for you, your CPA can prepare an expense ratio letter or P&L with the actual expense ratio.