Home Financing Solutions for Self-Employed Borrowers

One of the most common challenges self-employed borrowers face when qualifying for a loan is being able to show enough adjusted gross income on their tax returns. At V.I.P. Mortgage Inc., we offer flexible loan options targeted specifically to self-employed borrowers.

  • 3-month bank statement
  • 12-month bank statement
  • ATR in-full
  • Investor cash flow
  • Foreign national
  • Interest only
  • Jumbo Non-QM
  • Jumbo Prime

Below are the guidelines for each of these programs.

Property Geographic Area Details
Arizona, California, Colorado, Florida, Illinois, Indiana, Michigan, New Mexico, Ohio, Texas, Wisconsin, Washington, Nevada, North Carolina, Minnesota
Loan Amounts
$50,000 to $20,000,000
Lien Position
1st
Collateral Types
  • Residential Property
Loan Purpose
  • Investment Acquisition
  • Investment Refinance
  • Primary Residence Purchase
  • Personal Use
Property Occupancy
  • Vacant
  • Tenant Occupied 100%
  • Owner Occupied Residential

IDNR (Income Documentation Not Required) Program

A return to common-sense underwriting, for prime, credit worthy borrowers without income verification.

  • Loan Amounts Up to $3 Million
  • Up to 80% LTV Purchase/Rate & Term
  • Primary Residence and Second Homes
  • Credit Underwritten Based on LTV, FICO, and Liquidity “reserves”
  • Reserves from 3 Months depending on credit score
  • Cash out can be counted as reserves
  • FICO’s Beginning at 640
  • Asset Seasoning 30 Days
  • Only first page of a bank statement required for typical portfolio loans
  • Income Documentation Not Required
  • Income Information is not listed on the application
  • Debt-to-Income (DTI) Not Calculated

3-month Bank Statement Program

Qualify with most recent Personal or Business Account’s Bank Statements.

  • Up to $3M Loan Amount
  • 75% Max LTV Purchase
  • 70% Max LTV Refinance
  • Self-Employed Borrowers Only
  • 675 or greater credit scores
  • Owner Occupied Only
  • First Time Home Buyer considered at Lower LTV
  • Transfers can by used for qualifying income
  • All exceptions are reviewed case by case

12-month Bank Statement Program

Qualify with 100% on Personal Account Deposits and 50% on Business Account Deposits (12 consecutive months).

  • Up to $4M Loan Amount
  • 90% Max LTV
  • Self-Employed and 1099 Borrowers
  • 600 or greater credit scores
  • No reserves required at 75% or less LTV
  • No 4506T / No K1’s / No P&L’s
  • No Mortgage Insurance
  • All exceptions are reviewed case by case

ATR-IN-FULL Program

Qualify with enough liquid asset to cover the loan balance. ATR = Ability to Repay.

  • Borrower does not have to be currently employed
  • Only show two months of statements for qualifying account
  • 600 or greater credit scores
  • 75% Max LTV Purchase
  • 70% Max LTV Refinance
  • Owner Occupied Homes Only (not for investment properties)
  • Can use Liquid Assets
  • All exceptions are reviewed case by case

JUMBO Non-QM Program

  • Loan amounts up to $4M
  • I/O (interest only) available with a 650+ FICO
  • Cash out available with no max cash in had depending on LTV
  • Foreign National
  • No reserve requirements at or below 75% LTV, no reserve requirements at or below 75% LTV, cash out proceeds can be used for reserves above 75%
  • All exceptions are reviewed case by case

JUMBO Prime Program

  • Business funds can be used for reserves (Must be 100% owner)
  • No MI, impounds can be waived
  • Cash out up to $500k
  • All exceptions are reviewed case by case

Foreign National Program

  • Letter of good standing with current financial institution or international credit report
  • 1-4 unit properties
  • Loan amounts up to $2M
  • No income, job, or credit required
  • No reserves
  • Non-Owner Occupied properties only
  • 5yr/7yr ARM and 30-year fixed
  • Condotels/Pudtels allowed
  • 70% Max LTV Purchase
  • 65% Max LTV Refinance
  • All exceptions are reviewed case by case

Interest Only Program

  • 650 minimum credit score
  • Loan amounts up to $4M (owner-occupied)
  • Owner Occupied, Non-Owner Occupied and 2nd Homes
  • Available on 5/1 and 7/1 ARM
  • Max LTV up to 90%
  • All exceptions are reviewed case by case

Investor Cash Flow Program

  • Available for single family residences, 2-4 units, condos, townhomes, condotels, and non-warrantable condos
  • Qualify on cash flow – 12 mths reserves required for negative cash flow, cash-out can be used to cover reserves
  • Loan amounts up to $2M
  • Non-owner occupied only
  • No job verification
  • 5yr/7yr ARM and 30-year fixed
  • Reconciled rent estimates based on 1007 or lease agreement
  • All exceptions are reviewed case by case

Property Types

  • 2-4 Units Residential
  • Condominium
  • Single Family Residence

Loan Types

  • Residential Owner-Occupied

Specialty Loan Types

  • Residential Long-Term Rental
  • Residential Non-Prime

Fees which are paid to a third party company

  • Appraisal Fee
  • Escrow Fee
  • Title Fee

Details and Requirements

Payment Structure
  • Interest Only
  • Amortized
Pre Payment Penalty

no

Will lend to a foreign national

yes

Letter of good standing with current financial institution or international credit report.
Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

no

Will Consider Collateralizing Multiple Properties in One Loan

no

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered
  • Individual(s)
  • LLC
  • Trust
  • Corporation
Personal Guaranty (Recourse) Required
Always
Credit Check Required

yes

Appraisal Required for Residential Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Legal Disclaimer

V.I.P. Mortgage, Inc. does Business in Accordance with Federal Fair Lending Laws. NMLS ID 145502. For state specific licensing, visit www.vipmtginc.com/national-licenses/ Equal Housing Lender.

Additional Details

V.I.P. Mortgage, Inc. is an Equal Housing Lender. V.I.P. Is not affiliated with any government agencies. This is not an offer to enter into an agreement. Information, rates, and programs are subject to change without prior notice. All products are subject to credit approval. Other restrictions and limitations may apply.

Get In Touch

V.I.P. Mortgage, Inc. pays us to be listed, so there is no fee to connect. Share your loan request, send a simple email, call, or visit their website.

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V.I.P. Mortgage, Inc. wasn’t started as a company, but as an idea. An idea that the mortgage lending process could be simplified. An idea that the dream of homeownership is very much alive and well. And, an idea that the people working on your loan understand what you are going through because they have been there themselves.

Founded by Marine veteran Jay Barbour in 2006, V.I.P. Mortgage, Inc. has grown from a single office with two loan officers in Scottsdale, AZ, to over 20 brick and mortar branches (across many states) with a few hundred licensed loan officers. V.I.P. Mortgage, Inc. funds several billion dollars in loans annually and consistently ranks at the top of numerous industry rankings.

While V.I.P. Mortgage, Inc. has grown significantly over the years, we haven’t lost sight of our core values; to give back, provide exemplary customer service and not only meet, but exceed, each customer’s individual needs. V.I.P. Mortgage, Inc. doesn’t just do business with customers, but builds customers for life.

V.I.P. Mortgage, Inc. is an Equal Housing Lender. V.I.P. Is not affiliated with any government agencies. This is not an offer to enter into an agreement. Information, rates, and programs are subject to change without prior notice. All products are subject to credit approval. Other restrictions and limitations may apply.

License

NMLS ID 145502, State NMLS ID 0909074

Company Size (Number of Employees)

540

Year Established

2006

Office Locations

V.I.P. Mortgage, Inc.
9221 E. Via De Ventura, Scottsdale, AZ 85258

Primary Capital Source
  • Own Funds
Loan Structure for Majority of Loans
  • Own Balance Sheet

Our Team

Scott Bashaar

Loan Officer

NMLS ID - 230225

Get In Touch

V.I.P. Mortgage, Inc. pays us to be listed, so there is no fee to connect. Share your loan request, send a simple email, call, or visit their website.

Stay Informed About Private Lending

Receive our monthly newsletters with valuable insights and industry updates
subscribe-illustration
Before You Contact Us

Our Minimum Loan Amount Is

$50,000

What We Do

  • Non-Bank Consumer Home Loans
  • Loans for Self-Employed Borrowers
  • Loans for Foreign Investors

Not Available

  • NO 100% Financing
  • NO Commercial Properties

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