For many mortgage brokers, self-employed clients can be a challenge. Traditional mortgage qualifications often rely on tax returns, which may not fully reflect their true income potential. But fear not, there’s a solution – the Bank Statement program! In this episode of A&D Market Digest, we’ll unpack everything you need to know about this valuable tool, with insights from our industry expert Mike Pearson.
KEY HIGHLIGHTS
- Understanding the Bank Statement program. How it helps self-employed individuals qualify for mortgages based on their bank statements, offering a more accurate picture of their income
- Discovering why A&D Mortgage’s program stands out. Flexibility, competitive pricing, and a unique Concierge Desk that analyzes income upfront
- Identifying ideal clients for the Bank Statement program. Businesses that have lots of deductions and self-employed borrowers
- Unlocking pro tips for success. Mastering A&D’s specific guidelines, communicating with an experienced sales team for personalized guidance, and using the handy Quick Pricer
- Gaining more insights into the Bank Statement program. 4-part blog series, upcoming webinar on February 15th
Remember, knowledge is power! Equip yourself with the expertise from this episode to unlock the potential of the Bank Statement program and turn your self-employed clients’ homeownership dreams into reality.
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MORTGAGE NEWS
- MReport – December Pending Home Sales Cross 8% Mark. The Northeast PHSI dropped 3.0% from last month to 62.3, a decline of 3.9% from December 2022. The Midwest index increased 5.6% to 80.5 in December, up 4.3% from one year ago.
- Scotsman Guide – Take Advantage of the Best of Both Worlds. As the real estate landscape continues to evolve, the condotel phenomenon offers a unique blend of luxury, convenience and profitability. For those willing to embrace the challenges and complexities, condotels can open the door to a new and lucrative dimension of real estate investing.
- Housing Wire – Mortgage demand ticks up on the strength of purchase applications. The Mortgage Bankers Association reported a 3.7% increase in mortgage applications, with purchase activity showing strength at the start of 2024 despite a slight decrease in purchase applications and a notable rise in refinance applications.
Upcoming Webinars
February 15 @ 1:00 pm EST
Bank Statement Mortgages Uncovered: Broker Strategies for Success
OnlineDive into the world of Bank Statement mortgages, a vital tool for serving non-traditional borrowers. Learn how to leverage bank statement loans to assist self-employed clients and others with non-traditional income streams. We'll cover the essentials of underwriting processes, documentation requirements, and tips for navigating the unique aspects of these loans. This session is designed to equip brokers with the knowledge and confidence to tap into this lucrative market segment.
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February 20 @ 1:00 pm EST
Bank Statement Mortgages Uncovered: Broker Strategies for Success
OnlineJoin renowned expert Steve Kyles in this groundbreaking class as he unveils the 7 essential keys to achieving unprecedented growth. Discover how Steve's team went from zero to an astounding 392 closings in just two short years. Don't miss this opportunity to learn from a true mastermind in the industry.
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February 29 @ 1:00 pm EST
Bank Statement Mortgages Uncovered: Broker Strategies for Success
OnlineJoin us for a groundbreaking webinar on February 29, 2024, where two families—the Chrismans and the Cartys—spanning four generations in the mortgage industry, come together to share insights, experiences, and strategies for navigating the evolving mortgage landscape. This unique roundtable brings together the wisdom of the Baby Boomers and Gen X with the innovation and digital savviness of Millennials and Gen Z, offering a comprehensive view of the mortgage challenges and opportunities faced by each generation.
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