Expanded Product Tip: 1 Year P&L Documentation for Self Employed Borrowers!
Scenario:
- A borrower has been self-employed for over two years wants to purchase a new home
- They have a 20% down payment, FICO 692
- Loan Amount is $950,000
Problem: After analyzing the borrower’s tax return, the debt-to-income ratio for this purchase is 63%.
Solution:
- Non-QM Expanded-Prime allows P&L documentation! We easily calculate income using their 1-year P&L statement.
- Based on the net income on the P&L, the borrower’s debt-to-income ratio is 48%. This is within the 50 % debt-to-income ratio our Expanded-Prime product allows
Learn more about our Expanded Suite of Products / Non-QM Programs
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