Bank Statements Loan
Bank Statement loans allow for Self-Employed borrowers to still purchase a home or investment property simply using their bank statement income to qualify.
This Non-QM mortgage product typically uses a factor of a percentage of your annual deposits over a 12 or 24 month period to determine the borrower’s Net Income. This value is then used for debt to income ratios and further qualifying.
DTI (Debt to Income) = Income (from Bank Statements x % Factor) / Monthly Debt Service
Purchase / Refinance / Cash Out Refinance
Primary / Second Home / Investment
Up to 90% LTV (Primary)
Up to 30 Year Fixed
Up to 40 Year Interest Only
Up to $3M Loan Amount
2 Years Self Employed Required
600+ Credit Minimum
1-4 Unit Properties
Condos & PUDs Allowed