+1 vote
We own 4 acres with a mobile home. It's all paid for.  We both have good credit.  690's.  No other debt except new truck for work.  Payment $1000. A month but had to have it. We live in Kirbyville Mo.  We would prefer to build on the land we own and love and have put ALOT of work into fencing it all in, cedar fenced garden area, horse corral, and a second field for horses Nd one of our dogs.  I own a busy cleaning service with excellent references and my husband owns water/hardscape business.  He designs and hands on creates/builds outdoor living spaces, kitchens, fireplaces, patios, ponds, waterfalls, water features, flagstone, retaining walls and boulder walls.  We stay busy! We cannot find a house suitable to buy, And being self-employed are tax papers won't help us.  Especially after the truck payment.  We ideally would like to build a house here, but looks like a modular is our only option.  So my question again, do you do statement loans? And if so, in Missouri.
asked Mar 15, 2018 in Buying a Home by Tina

1 Answer

0 votes
Bank Statement Loans For Self Employed Borrowers are now available.  24 months bank statements deposits are averaged over the past 2 years to derive monthly income.  50% of deposits can be used on business bank statements deposits.  100% deposits can be used personal bank statements.  20% down payment on purchase with 620 credit scores.  15% down payment on purchase with 680 credit scores.  10% down payment on purchase with 720 credit scores.  I think what you are asking is construction loan correct? We don't offer construction loans on bank statements mortgage loans for self employed borrowers and I do not know of any investor who does. You can purchase a home that has been built. Not a construction to perm.
answered Mar 15, 2018 by GustanCho (106,540 points)

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