Foreign National Program

Credit scores starting at 640 | Up to 90% LTV, No MI

Newpoint Mortgage’s Bank Statement Mortgage program is the perfect option for self-employed borrowers who need an alternative method to show the true cash flow of their business. Borrowers do not have to own 100% of the business.

  • Loans up to $3 million with a minimum of $150,000
  • 12 or 24 months business or personal bank statements
  • Two years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
  • Rates are 30-year fixed
  • Two years self-employed required
  • Borrowers can own as little as 50% of the business for business bank statements and 25% for personal bank statements
  • Purchase and cash-out or rate-term refinance
  • Owner-occupied, second homes, and non-owner occupied
  • 1099 option available
  • 40 year fixed interest only available
  • Most loans will be qualified on an expense factor of 50%. Companies with a lower expense factor will require a statement from a third party CPA or tax preparer. (Some industries with traditionally higher expense factors will be underwritten with a 70% expense factor.)
  • Non-warrantable condos allowed

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