New 12-24 Month Bank Statement Loan Programs | Valor Lending Group

Are you self-employed or a business owner interested in one of our new 12-24 Month bank statement loan programs?

Valor Lending Group has new programs that are beneficial for you!

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What is a 12-24 month Bank Statement Loan?

12-24 month bank statement loans are a beneficial alternative option for self-employed individuals and business owners. They are a type of Non-QM mortgage loan, which allows a borrower to use their bank statements to qualify for a mortgage loan instead of using tax returns. The lender will require 12-24 months bank statements (business/personal bank statements) to prove their ability to repay the loan. This alternative way of qualifying for a mortgage loan is a major benefit for borrowers that have tax returns that don’t fully reflect all of their income.

Valor is happy to announce that we are currently licensed in California, Arizona and NOW FLORIDA!

We are excited for the opportunity to serve up EVERY loan in the book to the beautiful sunshine state and look forward to raising the bar in mortgage loan financing!

These are not the type of loans that were prevalent in the pre-2008 financial crisis, and no longer are the days in which loan applicants can simply state their income on a loan application with virtually no due diligence conducted by the lender. After the 2008 financial crisis, the sweeping provisions of Dodd-Frank changed the industry substantially, at least in the owner-occupied residential context. Since 2010 Dodd-Frank has required lenders to document a residential borrower’s ability to repay the loan. Bank statement lenders still want to ensure borrowers can repay their mortgages; they just use bank statements to verify income as opposed to tax returns. Self-employed borrowers are able to document their ability to repay based on business deposits into their personal or business bank accounts, i.e., their true cash flow.

Bank Statement Loan Program Highlights:

• 12 and 24 month Bank Statement options available
• Up to 90% LTV (on Purchases & R/T Refinances)
• Borrower and Lender paid points available
• Must have 2 years verifiable self-employment income (must own at least 50% of the business)
• No Tax Returns
• Maximum loan amount $6.5M
• Purchase and cash-out or rate-term refinance
• 4 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
• Owner-occupied, 2nd homes and non-owner occupied

What you would need for submission:

• 12-24 Months Bank Statements (business or personal)
• Copy of Business License (3 years)
• CPA Letter (stating you are 100% owner, you have been in business for 2 years and they have done your taxes for two years | Also list your current expense ratio and the CPA License Number

VALOR LENDING GROUP OFFERS EVERY MORTGAGE LOAN IN THE BOOK!

We look forward to serving you!

Recap of our Loan Products

1. Hard Money Loans (20% down / minimal documentation) Typically Fund in 7-10 days.
2. Stated Income Loans (Great for business owners and self employed ) No tax returns!
3. 100% financing is available (we can cross collateralize other properties if there is enough equity)
4. Valor VA Home Loan 100% financing up to $1.5MM
5. Rental Property Loan – No tax returns or DTI calculation! Based on subject property cash flow – No DSCR Coverage needed!
6. Flipper & Rehab Loans (Flip a property with one of our many options)
7. 2nd Position Loans up to $5mm
8. Raw Land & Lot Loans
9. Ground up Construction for spec homes, custom homes and commercial ground up.
10. Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
11. 10% down Jumbo’s up to $1.5mm
12. Manufactured Housing / Mobile Homes (20% down / 600+ credit score)
13. Acreage Properties
14. Commercial Loans up to $500mm
15. 3% & 5% down Conventional Loans– LPMI (Lender paid mortgage insurance)
16. Foreign Nationals Loans (no social security or residency required)

We Also Offer:

1. Conventional Conforming Loans
2. High Balance Conforming
3. Jumbo Loan Financing | 10% down Jumbo to $1.5mm
4. FHA, USDA
5. Reverse mortgages up to $1 Million Value
6. Cash Out Refinancing

**Rates and terms subject to change without notice

We are never too busy for your referrals!

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