If you're self-employed or own a business, a Bank Statement Loan or 1099 Mortgage Loan from NASB could provide the flexibility you need – but those aren’t your only options. We’ll take the time to understand your income sources, goals, and challenges to match you with the right loan product, whether that’s a Bank Statement Loan, 1099 Loan, DSCR Loan, or another custom portfolio product.
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Answer six quick questions to get your personalized recommendations from one of our loan experts.
Our Bank Statement Loan enables business owners to apply for a home loan without relying on net income from tax returns or pay stubs. Instead, we review your non-traditional income over a 12-month period using bank statements.
Requirements include:
Our 1099 mortgage loan uses your 1099-NEC statements to verify your income and eligibility, eliminating the need for traditional tax documents.
Requirements include:
1Bank Statement Loans require a minimum $175,000 loan amount (exceptions include mortgage products for properties located within the Greater Kansas City metro and surrounding areas), a minimum credit score of 700, and a 10% down payment with approved mortgage insurance. Contact a NASB Loan Officer for more details on the specific areas and/or zip codes excluded. Not available in New York state, the Chicago or Baltimore metropolitan areas, and not available in all locations or for all property types. Loans subject to underwriting and eligibility criteria, and other factors. Your loan officer will provide you with more information regarding Bank Statement loans and what may work best for your situation.
21099 loans require a minimum 700 FICO score, a minimum loan amount of $175,000 (exceptions include mortgage products for properties located within the Greater Kansas City metro and surrounding areas), and a 20% down payment. A lower FICO score or down payment may be available with eligible compensating factors. Must have a two-year history in the same line of work. Contact a NASB Loan Officer for details on the excluded areas and/or zip codes. The product is not available in New York, the Chicago or Baltimore metropolitan areas and not in all locations or for all property types. Loans are subject to underwriting, eligibility criteria, and other factors. Your Loan Officer will provide more information regarding 1099 loans and what may work best for your situation.
310% minimum down payment with no mortgage insurance required requires a minimum 740 credit score, no prior bankruptcy, and a 12-month housing history. Otherwise, borrowers need a minimum credit score of 700 and a 10% down payment with approved mortgage insurance.
