{"id":607,"date":"2023-09-20T18:16:10","date_gmt":"2023-09-20T18:16:10","guid":{"rendered":"https:\/\/nysck.com\/bankststementmortgage\/?page_id=607"},"modified":"2023-09-20T19:47:36","modified_gmt":"2023-09-20T19:47:36","slug":"purchase","status":"publish","type":"page","link":"https:\/\/nysck.com\/bankststementmortgage\/purchase\/","title":{"rendered":"Purchase"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.21.0&#8243; _module_preset=&#8221;default&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row column_structure=&#8221;2_3,1_3&#8243; _builder_version=&#8221;4.21.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;2_3&#8243; _builder_version=&#8221;4.21.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;||||||||&#8221; text_font_size=&#8221;40px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Purchase<\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;justified&#8221; custom_padding=&#8221;18px||20px||false|false&#8221; border_width_bottom=&#8221;1px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p><span>As a leader in the bank statement mortgage market, we cater to the self-employed borrower. These types of borrowers have a difficult time qualifying for a mortgage loan using the traditional income verification process. We have solutions for these self-employed borrowers. One of the requirements to qualify for a bank statement mortgage is to be self-employed for at least 24 months. Even if we do offer a 3-month bank statement program still the borrower needs to show proof of 24 months of self-employment.<\/span><\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;justified&#8221; custom_padding=&#8221;18px|||||&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p class=\"x_MsoNormal\">If you are in the market to purchase a property here is what is needed to get you financing.<\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;justified&#8221; custom_padding=&#8221;18px|||||&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; custom_margin=&#8221;-15px||||false|false&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<ul type=\"disc\">\n<li class=\"x_MsoListParagraph\">10% down payment is required with a minimum score of 660<\/li>\n<\/ul>\n<p class=\"x_MsoNormal\">[\/et_pb_text][et_pb_text _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;justified&#8221; custom_padding=&#8221;18px|||||&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; custom_margin=&#8221;-30px||||false|false&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<ul type=\"disc\">\n<li class=\"x_MsoListParagraph\">We offer loans ranging from $100,000 to $5,000,000.<\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;justified&#8221; custom_padding=&#8221;18px|||||&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; custom_margin=&#8221;-30px||||false|false&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<ul type=\"disc\">\n<li class=\"x_MsoListParagraph\">For business or personal bank statements, we require a minimum of 12 or 24 months.<\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;justified&#8221; custom_padding=&#8221;18px|||||&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; custom_margin=&#8221;-30px||||false|false&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<ul type=\"disc\">\n<li class=\"x_MsoListParagraph\">If you have experienced foreclosure, short sale, bankruptcy, or deed-in-lieu, we require a seasoning period of two years.<\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;justified&#8221; custom_padding=&#8221;18px|||||&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; custom_margin=&#8221;-30px||||false|false&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<ul type=\"disc\">\n<li class=\"x_MsoListParagraph\">If you are self-employed, we require a minimum of two years of self-employment.<\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;justified&#8221; custom_padding=&#8221;18px|||||&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; custom_margin=&#8221;-30px||||false|false&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<ul type=\"disc\">\n<li class=\"x_MsoListParagraph\">For business bank statements, you can own as little as 50% of the business, and for personal bank statements, you can own as little as 25%.<\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;justified&#8221; custom_padding=&#8221;18px|||||&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; custom_margin=&#8221;-30px||||false|false&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<ul type=\"disc\">\n<li class=\"x_MsoListParagraph\">Our loans are available for owner-occupied properties, second homes, and non-owner-occupied properties.<\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;justified&#8221; custom_padding=&#8221;18px|||||&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; custom_margin=&#8221;-30px||||false|false&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<ul type=\"disc\">\n<li class=\"x_MsoListParagraph\">We also offer a 30-year fixed loan with a 10-year interest-only option.<\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;justified&#8221; custom_padding=&#8221;18px|||||&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; custom_margin=&#8221;-30px||||false|false&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<ul type=\"disc\">\n<li class=\"x_MsoListParagraph\">Most loans will be qualified based on an expense factor of 50%. However, companies with a lower expense factor will require a statement from a third-party CPA or tax preparer. Some industries with traditionally higher expense factors will be underwritten with a 70% expense factor.<\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;justified&#8221; custom_padding=&#8221;18px|||||&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; custom_margin=&#8221;-30px||||false|false&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<ul type=\"disc\">\n<li class=\"x_MsoListParagraph\">We allow non-warrantable condos.<\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;justified&#8221; custom_padding=&#8221;18px|||||&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; custom_margin=&#8221;-20px||||false|false&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p class=\"x_MsoNormal\">We offer a quick and easy way to calculate income using bank statements. All you have to do is send us the bank statements and we\u2019ll average the deposits over a 12 or 24-month period, the calculations are done within 24 hours, which means that within a day we can give you the monthly income that we can use for qualifications and a max of 50% DTI is in effect.<\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.22.1&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;justified&#8221; custom_padding=&#8221;18px|||||&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; custom_margin=&#8221;-15px||||false|false&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p class=\"x_MsoNormal\"><a href=\"https:\/\/nysck.com\/bankststementmortgage\/contact\/\">Contact<\/a> us about how you can qualify for a purchase transaction using bank statements to qualify.<\/p>\n<p>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;4.21.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PurchaseAs a leader in the bank statement mortgage market, we cater to the self-employed borrower. These types of borrowers have a difficult time qualifying for a mortgage loan using the traditional income verification process. We have solutions for these self-employed borrowers. One of the requirements to qualify for a bank statement mortgage is to be [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-607","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/nysck.com\/bankststementmortgage\/wp-json\/wp\/v2\/pages\/607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nysck.com\/bankststementmortgage\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/nysck.com\/bankststementmortgage\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/nysck.com\/bankststementmortgage\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nysck.com\/bankststementmortgage\/wp-json\/wp\/v2\/comments?post=607"}],"version-history":[{"count":10,"href":"https:\/\/nysck.com\/bankststementmortgage\/wp-json\/wp\/v2\/pages\/607\/revisions"}],"predecessor-version":[{"id":627,"href":"https:\/\/nysck.com\/bankststementmortgage\/wp-json\/wp\/v2\/pages\/607\/revisions\/627"}],"wp:attachment":[{"href":"https:\/\/nysck.com\/bankststementmortgage\/wp-json\/wp\/v2\/media?parent=607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}