Dan Hubrich with Castle & Cooke Mortgage is back! Today he’s talking about a lesser known loan program that could help self-employed or contract employees buy a home sooner and qualify for more than a traditional mortgage will allow.

This month I’d like to talk about a program that doesn’t get utilized enough, mainly because people probably don’t even know it exists. Back before the market crashed years ago, we had all kinds of stated income and no-doc loans where we really didn’t even care how much money you made and we just went completely off of your credit score. As you can imagine, those were pretty risky loans and that definitely contributed to the crash. So those loans don’t exist anymore, but there is something similar today, which is a bank statement program. Many buyers that are self-employed or are contract employees make good money in the real world but they write off a lot of expenses on their taxes. On a traditional loan, you may not qualify in that case. However, with the bank statement program, we don’t care what your taxes show and we’re just going to look at a 12-24 month average of your bank deposits to determine how much money you really make. If this is you or anyone you know, give me a call and I can tell you more about how it works. This could make all the difference in buying a home now VS waiting.

Contact Dan or myself for more info!