Stacey's Blog
Unlocking Mortgage Options You Didn’t Know You Had: Brokered Loan Products Explained
When most people think about getting a mortgage, they picture the traditional route: W-2 income, tax returns, a steady job, and a conventional loan. But what if that doesn’t fit your financial situation? Whether you’re self-employed, a business owner, or someone with multiple properties, you may feel like the mortgage world wasn’t built for you.
Good news — it is. You just haven’t heard about the right products yet.
At VanDyk Mortgage, we offer more than just conventional and FHA loans. Through our brokered loan product options, we can access a variety of unique, flexible loan programs tailored for clients who don’t fit the “one-size-fits-all” box.
Here are a few worth knowing:
Bank Statement Loans
If you’re self-employed or own your own business, this might be the loan for you. Instead of using traditional income verification like W-2s or tax returns, a bank statement loan uses 12–24 months of your personal or business bank statements to calculate income. This is a great solution for entrepreneurs, freelancers, or anyone with non-traditional income who can show strong cash flow.
P&L (Profit and Loss) Loans
A P&L loan is another option for business owners. Instead of using bank statements, this loan looks at your business’s profit and loss statement, prepared by a licensed tax preparer or CPA, to determine your income. It’s faster and more streamlined than full documentation and can help clients who have strong earnings but limited paperwork.
Blanket Loans
A blanket loan allows you to finance multiple properties under a single mortgage. This is ideal for real estate investors or clients who own several rental properties. Rather than juggling several mortgage payments and due dates, you’ll have just one, making management easier and often more cost-effective.
You have options – more than you probably realized. Whether you’re a business owner, a real estate investor, or just someone with a unique income setup, there may be a perfect loan for your situation.