Understanding the 12-Month Bank Statement Commercial Mortgage for Owner-Occupied Businesses
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Introduction to 12-Month Bank Statement Commercial Mortgage
The 12-Month Bank Statement Commercial Mortgage is tailored for business owners who occupy the property they are financing and prefer to qualify based on their bank statement deposits rather than traditional financial documentation. This option is ideal for self-employed individuals or businesses with fluctuating income, as it allows lenders to evaluate cash flow through bank statements rather than relying solely on tax returns or profit and loss statements.
Benefits of the 12-Month Bank Statement Commercial Mortgage
- Alternative Income Verification: Qualify using 12 months of bank statements, providing flexibility for businesses with irregular income.
- Owner-Occupied: Designed specifically for businesses that operate out of the property being financed.
- Flexible Documentation: Reduced need for traditional financial documents like tax returns, making it accessible for self-employed borrowers.
- Competitive Loan Terms: Offers favorable interest rates and terms based on the borrower’s bank statement history.
- Improved Cash Flow: Helps business owners maintain cash flow by securing financing based on actual deposits rather than net income.
Take the Next Step with Southeast Funding Group
Call Lazaro Sosa directly at 305.281.2245 for a free consultation or apply online. Let’s discuss how a 12-Month Bank Statement Commercial Mortgage can help you secure the financing you need for your owner-occupied business property.