Did you know you can qualify a borrower using business bank statements with no P&L? Simply apply a fixed expense ratio based on the size and type of business. Learn more about using our Sequoia Portfolio bank statement programs. Expense Ratio for Bank Statement Income Calculations Number of Employees 0 1-5 > 5 Service Business 20% 40% 60% Product Business …
Now is the time: Get Cash-Out on Investment Properties
Many borrowers have seen strong equity growth on their non-owner properties. Newfi’s Sequoia Portfolio Plus is a great program for borrowers to take a cash-out refi to get equity out of investment properties. This product line is extremely flexible, and with current equity positions possibly at their peak, now is a great time for borrowers to consider this program. Since the Sequoia …
Qualify More Self-Employed Borrowers
Newfi continues to innovate for self-employed borrowers. With our Sequoia Portfolio Plus and Expanded programs you have two different options for calculating the net qualifying income from your borrowers business bank statements: Fixed Expense Ratio – This is the quickest and easiest calculation. Simply add up the total business deposits and apply a fixed expense ratio, based on the type and size of …
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