mBanc for self-employed mortgage - worth the higher rate?
I'm self-employed and trying to get a mortgage for a commercial property. Traditional banks keep asking for 2 years of tax returns and my write-offs make my income look terrible on paper.
mBanc does bank statement loans which sounds perfect. But the rate they quoted is about 1.5% higher than a conventional loan. Is that typical for bank statement loans? Has anyone used mBanc specifically? I want to make sure I'm not just getting taken advantage of because I'm self-employed.
u/whitemanrunning — 5 days ago