My girl needed a bank statement and stub last week and I was worried about her loosing her not getting her car loan 😴 but everything good now only because of deelscafe good work 👍.
I have perfect credit; zero debt: $120k liquid; own my own company; make $20k gross monthly. Yet so far I’ve only found 8-9% interest rates for a 10% down bank statement loan. You said 5% interest rates in the video but from what I’ve seen this is false at present. Please advise.
It was 6 months ago so possible it was 5-6% actually. Now conventional stuff in the 6’s so bank statement loans definitely 8-9% Keep in mind rates change every day.,,
Interesting. I’m in the process of uploading supporting docs for preapproval on your website. I logged in today and saw the tax returns portion went away. I’m a W2 earner but either way, I should be done uploading stuff by tomorrow
I have my own general contractor company for 5 years but also still work in the corporate world. Can I add my corporate job in the bank statement process to qualify for more?
I'll give an example of how dumb these requirements are My little brother makes 115 grand a year he works at a local TV station that's likely going to go bankrupt in the next 6 months only has $10,000 saved and he has to pay for a his own food rent car etc but he qualifies for $300,000 plus mortgage while me being self-employed saving 50,000 a year but 70,000 in the bank in another 120,000 in equity because I have legitimate write-offs I can't even borrow $100,000 to buy a house. I also barter with one of my customers and I have a free house with all expenses paid he is a farmer so I get most of my food for free a free vehicle with free fuel so I literally save all of my seasonal W2 income about 50,000 per year and I can't qualify for anything but my brother can and he's almost certainly not going to have his job in 6 months or is my business has been doing the same thing with the same customers for over 40 years I am taking it over from a family friend and we have no debt.
Great video, Matt. When it comes to bank statements, is it acceptable to have a low amount of deposits for the first few statements, as long as you have high deposits for the rest of them?
From what I understand you have to have self employment for 2 years. I don’t understand why a lender wouldn’t lend to someone who just started there own business and have capital and a high credit score and are willing to put down 20%. I wouldn’t mind lending the capital under those circumstances .
~20% of new small businesses fail in the first year, 50% by the 5th year. Source: BLS. Edit: guessing lenders want to weed out the early failures and then look to the dp and reserves.
What if you’re self- employed and have been for many years. but don’t own a business? An independent contractor, does mechanic & body work and flips cars.
Is there a program that lets you use bank statements without being self-employed? My son is an actor his money goes into my account we would like to buy a house I show very little income he shows a ton.
@@philiproth3676 Did you ever find a loan with good interest rates?? What was your personal experience?? What was your credit score? Did you end up getting the home?
If I'm an independent contractor ( nanny) can I do this 12 month bank statement loan from my personal account deposits ? I don't own a business, but I have regular consistent deposits from the 2 families that I do nannying and caretaking for.
Nice video!! Very engaging from beginning to end. Nevertheless, businesses and investment are the easiest way to make money irrespective of which party makes it to the oval office.
I needed a new apartment so that my mom and I could move in to but my bank statement did show that I made enough so I just came across wonderful details recommending veliscyberclinic and I got my statement right away from him..
Thanks for the video, the crazy thing is that it's easier for my employees to buy a home than it is for me, and I'm the one writing their checks.
That is a CRAZY point!
Same situation as us, lol.
Welcome to my world. Someone with a job (they can lose) can get a loan but my 15 years of steady income deposits aren't worth @#$%
Thanks Matt
no problem, thanks for watching!
My girl needed a bank statement and stub last week and I was worried about her loosing her not getting her car loan 😴 but everything good now only because of deelscafe good work 👍.
@Bitrus Sabo same here
Sounds perfect but How do you provide proof of 2 years of self employment/10-99 if it wasn’t done in an LLC (sole proprietorship)?
Do you lend for construction loans for self-employed folks with bank statements only?
I have perfect credit; zero debt: $120k liquid; own my own company; make $20k gross monthly. Yet so far I’ve only found 8-9% interest rates for a 10% down bank statement loan. You said 5% interest rates in the video but from what I’ve seen this is false at present. Please advise.
It was 6 months ago so possible it was 5-6% actually.
Now conventional stuff in the 6’s so bank statement loans definitely 8-9%
Keep in mind rates change every day.,,
Did you ever find a loan with good interest rates?? What was your personal experience??
Who is the lender?
@Leroy Brown but he is not in Florida
I have FL license and team; www.greatmortgagebroker.com/
Will the mortgage go in the business name or the buyers personal name?
Interesting. I’m in the process of uploading supporting docs for preapproval on your website. I logged in today and saw the tax returns portion went away. I’m a W2 earner but either way, I should be done uploading stuff by tomorrow
Our software is smart so once we realize you are w2 we don't need the full return. Lets get you into a house brother!
Do you do land only loans?
Not our specialty- try US BANK
@@MattTheMortgageGuy thank you!
@@TFitz you’re welcome
I have my own general contractor company for 5 years but also still work in the corporate world. Can I add my corporate job in the bank statement process to qualify for more?
Any issue on statements??
Why a CPA letter and not the LLC documents proving you own more than 25%?
I'm self employed with a bank statement home loan of 9.5%. What are my options for refinancing when rates come down..
Did you use a 24month bank statement loan? What was your credit score at the time of loan?
I'll give an example of how dumb these requirements are My little brother makes 115 grand a year he works at a local TV station that's likely going to go bankrupt in the next 6 months only has $10,000 saved and he has to pay for a his own food rent car etc but he qualifies for $300,000 plus mortgage while me being self-employed saving 50,000 a year but 70,000 in the bank in another 120,000 in equity because I have legitimate write-offs I can't even borrow $100,000 to buy a house. I also barter with one of my customers and I have a free house with all expenses paid he is a farmer so I get most of my food for free a free vehicle with free fuel so I literally save all of my seasonal W2 income about 50,000 per year and I can't qualify for anything but my brother can and he's almost certainly not going to have his job in 6 months or is my business has been doing the same thing with the same customers for over 40 years I am taking it over from a family friend and we have no debt.
Can you have a discharge bankruptcy
Does it have to be 24 months? This November will be the 1st year of our business.
Some lenders allow 6-12 months
The terms are not as good but it’s available
Can this program be used for a construction loan?
Hey Matt! Can you do loans in California?
I’m based in CA. We do a ton of business in CA. Go to greatmortgagebroker.com to get started
Great video, Matt. When it comes to bank statements, is it acceptable to have a low amount of deposits for the first few statements, as long as you have high deposits for the rest of them?
From what I understand you have to have self employment for 2 years. I don’t understand why a lender wouldn’t lend to someone who just started there own business and have capital and a high credit score and are willing to put down 20%. I wouldn’t mind lending the capital under those circumstances .
~20% of new small businesses fail in the first year, 50% by the 5th year. Source: BLS. Edit: guessing lenders want to weed out the early failures and then look to the dp and reserves.
@@carlyellison8498 this 👆🏼
You’d want to lend to someone that has a brand new business and no track record? Seems very risky to me and I’m sure that is lenders mindset
What if you’re self- employed and have been for many years. but don’t own a business? An independent contractor, does mechanic & body work and flips cars.
Do these programs ask for profit and loss statements for the business?
Yes
Is there a program that lets you use bank statements without being self-employed? My son is an actor his money goes into my account we would like to buy a house I show very little income he shows a ton.
Hi Matt! I do have clients that pay my courier business cash. Do my monthly cash deposits counts as income?
Thank you
I like it ,but interest rate I was given is 6.25% 🤔
I was offered an 8.25% rate today :(
@@philiproth3676what was your credit score and what was standard interest rates at the time you applied?
@@philiproth3676 Did you ever find a loan with good interest rates?? What was your personal experience?? What was your credit score? Did you end up getting the home?
This is a brilliant video 👌must say but i had to try someone who my daughter told me got good bank statements fr and thats deelscafe 💯..
same i had doubts at first but he 💯when i messaged him on insta
I also got bank statements from dude
On ig
If I'm an independent contractor ( nanny) can I do this 12 month bank statement loan from my personal account deposits ? I don't own a business, but I have regular consistent deposits from the 2 families that I do nannying and caretaking for.
Hpmortgage
How much money would I need to put in buisnees account if I want to purchase a 500k house?
Nice video!! Very engaging from beginning to end. Nevertheless, businesses and investment are the easiest way to make money irrespective of which party makes it to the oval office.
I needed a new apartment so that my mom and I could move in to but my bank statement did show that I made enough so I just came across wonderful details recommending veliscyberclinic and I got my statement right away from him..