Bank Statement Loan – Purchase
– Rented a chair as a Barber -Sole Properietor ( who cuts your hair?)
Is this loan right for you?
If you are a sole proprietor renting a chair—such as a Barber or Stylist—traditional banks often overlook your income. This program is tailored for you, allowing you to use your bank statement deposits to secure a 30-year fixed mortgage with creative down payment options.
Benefits of this program
- Creative Down Payments: Full support for Gifts of Equity to cover your down payment requirements.
- Seller Concessions: Capability to utilize significant closing cost credits (up to $10k).
- Competitive Fixed Rates: Access stable 30-year fixed rates (e.g., 6.875%) for your purchase.
- Swift Closing: Move from “cutting hair” to “homeowner” in just 20 days.
Eligibility requirements
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12 months of Personal or Business bank statements
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Proof of Sole Proprietorship/Chair Rental status
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Gift letter if utilizing a Gift of Equity
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Primary residence purchase
