Bank Statement Loans: Financing Designed for Self-Employed Borrowers

Program Summary

Bank statement loans allow self-employed borrowers to qualify for a mortgage based on their bank deposits instead of tax returns. This option is ideal for business owners or contractors who experience income fluctuations or utilize write-offs on tax filings.

Key Benefits

• No tax returns required: Qualify using 12-24 months of bank statements.
• Flexible income verification: Perfect for self-employed or commission-based earners.
• Higher approval rates: Designed to accommodate complex financial situations.
• Available for various property types: Finance primary homes, second homes, or investment properties.

Program Details

• Bank Statements: Requires 12-24 months of personal or business bank statements.
• Credit Requirements: Minimum 620-680, depending on lender.
• Down Payment: Typically 10%-20%.
• Income Calculation: Based on average monthly deposits, with adjustments for business expenses.

Who Is This Program Best For?

• Self-employed borrowers or business owners with non-traditional income.
• Buyers with significant tax write-offs that impact qualifying income.
• Borrowers looking for flexibility without relying on traditional income documentation.

Next Steps

Are you self-employed? Let us help you secure financing with a Bank Statement Loan. Contact us today to learn more!