Apply for a bank statement loan using your bank statements instead of your tax returns.
Low 10% down payment, and no mortgage insurance required.
Use your real income to obtain your dream home.
Are you self employed?
Do you have multiple streams of income?
Do you write everything off to lower your taxes?
Do you have a cash business?
We have several program options available to meet your needs.
Get pre approved for free today!
A bank statement loan uses a borrowers bank statements as proof of income rather than tax returns, W-2s or pay stubs.
Perfect for self-employed borrowers or borrowers who have income not documented on tax returns. Lenders use the bank statements to assess the borrower’s income and expenses to determine their ability to repay the loan.
12 month bank statement and 24 month bank statement options available.
Can use personal or business bank statements.
Loan options up to 90% LTV.
Loan amounts up to $3.5M.
Can be used for investment properties.
Get pre approved for free today!
Bank statement loans allow borrowers to utilize their bank statements instead of traditional income verification methods, such as W-2s or tax returns. Here’s how the process typically works:
Providing Bank Statements: When applying for a bank statement home loan, the borrower must provide their bank statements for the previous 12-24 months. These statements will be used to determine the borrower’s average monthly deposits and expenses, which will be used to calculate their income.
Income Calculation: The lender will calculate the borrower’s income based on their average monthly deposits. This is typically done by adding up the total deposits for the specified time period and dividing by the number of months. This average monthly deposit amount will then be used to determine the borrower’s income for the loan application.
Expense Analysis: In addition to calculating the borrower’s income, the lender will also review their average monthly expenses to determine their ability to repay the loan.
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The specific requirements may vary depending on the lender and loan program, but here are some basic bank statement mortgage loan requirements:
Credit Score: Bank statement loans often require a minimum credit score of 620.
Down Payment: Minimum down payment of 10%.
Income Documentation: While bank statement loans don’t require traditional income documentation, borrowers will need to provide bank statements for the previous 12-24 months to verify their income.
Debt-to-Income Ratio: Bank Statement Mortgage Lenders may limit the debt-to-income ratio for bank statement loans, typically no higher than 50%.
No, we do a soft pull for the pre approval that does not impact your credit score.
Fill out form below, and an agent will contact you to get started.
12 or 24 months of bank statements and copy of ID.
No, your loan application and document upload can be done using your phone or desktop PC.
Yes, we also have Conventional loans, FHA loans, USDA loans, VA loans, Foreign National loans, ITIN loans & Private Money loans.