Case study 7 · Bank statements
Asked for new tax returns after the contract: 12-month bank statements
Another lender said a self-employed buyer qualified, then asked for updated tax returns after the contract was signed. Sarah helped through a 12-month bank statement program.
HelpedTold by Sarah Baraz · Mortgage Loan Officer · NMLS #1859224 · Team Baraz / CMG Home Loans The situation
One of Sarah's self-employed clients referred a friend who had been working with another lender.
What went wrong
The other lender initially said the buyer qualified but, after the buyer went under contract, said the borrower needed updated tax returns.
What Sarah did
Sarah evaluated the file through one of the company's self-employed investors using a 12-month bank statement option.
The result
Sarah reported she was able to help the borrower through this 12-month bank statement program. The original account does not give a closing date or detailed pricing.
The lesson: Self-employed documents should be reviewed before a buyer commits to a purchase. An alternative program can sometimes avoid a disruptive last-minute change.
Facing something similar?
A denial, a shaky preapproval or a tricky income question is a reason to get a second look, ideally before you sign a contract. Send Sarah your scenario.
Send your scenario to Sarah See all case studiesExamples are anonymized and provided for educational purposes. They follow Sarah's own accounts; no names, addresses or dollar amounts are included. Past results do not guarantee future outcomes. Loan approval depends on the individual borrower, property, documentation, program guidelines and underwriting review. This is not a commitment to lend. Sarah Baraz is based in San Antonio and licensed in Texas, Florida and California.