Do you need to take advantage of your self-employed borrowers 2018 income but they haven’t filed their taxes yet?
No problem! With Newfi’s Sequoia CPA program your borrower can qualify using a CPA prepared P&L covering the last 12 months. It’s super easy, here’s how it works.
- Self-employed borrowers only
- Minimum 2 years in current profession and minimum 50% ownership in business
- Borrower provides a CPA prepared P&L covering the last 12 month period
- P&L end date must be within 90 days of closing
- CPA must attest to the following
- CPA prepared borrowers most recent tax returns
- CPA has either audited the borrowers financials or reviewed working papers provided by the borrower
- P&L accurately represents a summary of the business cash flow
- Qualify using the net income stated on the P&L
What’s better? If you’re a CALYX Point user, you can now run all of your Non-QM scenarios through our pricing and eligibility engine right in your Point file.
Don’t use Point? That’s OK too, here’s a link our Pricing and Eligibility Tool on the Newfi website.
Contact your Newfi rep to get started!