These are great loans for self-employed borrowers who have complicated tax returns that may not always work to get them qualified with traditional guidelines.
Who Are Bank Statement Loans For?
How Do Bank Statement Loans Work?
With either 12 or 24 months of bank statements, the underwriter will calculate your income based on the business cash flow.
How Do I Qualify For A Bank Statement Loan?
- Minimum 680 FICO® Score
- Need to put down a minimum of 10%
- 4% – 7% of the purchase price to cover closing costs
Bank Statement Loan Benefits
Bank Statement Loans can help qualify self-employed borrowers who otherwise couldn’t get a mortgage, income is based on the cash flow of the business and not tax returns, simple underwriting process, no tax returns needed!
- Apply for a mortgage without a W-2. The big-box lenders may have turned you away, but we will help you complete the mortgage process.
- The bank statement loan process is fast and easy with less paperwork than the regular mortgage application process.
- A mortgage company that has processed many bank statement loans is familiar with the hassles the traditional mortgage process presents someone in your situation. We are here to make it as easy as possible for you to apply for a loan. We want this process to be smooth and enjoyable for you.
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