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Frequently Asked Questions
Do I need a business bank statement, or can I use personal? You can use either! If you use business statements, we apply a standard expense ratio. If you use personal statements (and can show you have a separate business account), we can often use 100% of the deposits.
Can I use this for a cash-out refinance? Absolutely. Many business owners use our Bank Statement program to pull equity out of their homes to reinvest back into their businesses.
How do you determine the "Expense Ratio"? If you don't have a profit and loss statement (P&L), we typically apply a default expense ratio based on your industry. However, if your business has very low overhead, we can often use a letter from your CPA to justify a lower ratio, increasing your buying power.
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