About Bank Statement Mortgages
Bank statement loans enable business owners to finance both the purchase (or refinancing) of a house using bank statements to income qualify. No tax returns needed.
Requirements for a bank statement loan include:
- Must be self-employed for a minimum of 2 years
- 600 minimum FICO
- Must be depositing income into one main operating account
- Minimum 10% Down payment
Why A Bank Statement Mortgage?
Bank statements loans offer an excellent solution for many self-employed borrowers, investors, or those without regular income that can be documented for a home loan application. The Bank Statements Mortgage allows for qualification based on balances in deposit accounts rather than on a W-2 or tax return. Your financial profile may be different from borrowers who earn a typical salary. We understand.
Bank accounts can be either personal or business accounts.
Questions? Contact LoanPro Today!