Bank Statement Loans

A Bank Statement loan allows you to qualify for a mortgage using bank statements rather than tax returns.

Since bank statement loans remove the burden of proving income, it can be beneficial for small business owners or 1099 employees. (Real Estate Agent, Doctor, Lawyer, etc) 

Rates are higher than on a conventional mortgage but are a great tool to obtain a mortgage if your income is inconsistent, your employer doesn't issue traditional paychecks or you claim significant tax deductions.

Your loan approval depends 100% on the documentation that you provide at the time of application. You will need to give accurate information on:

Bank Statements

  • Complete bank statements for the past 12-months

Personal

  • Drivers License
  • Social Security Card
  • Any Divorce, Palimony or Alimony or Child Support papers
  • Green Card or Work Permit if applicable

Refinancing or Own Rental Property

  • Note & Deed from any Current Loan
  • Property Tax Bill
  • Hazard Homeowners Insurance Policy
  • A Payment Coupon for Current Mortgage
  • Rental Agreements for a Multi-Unit Property

A Bank Statement loan only requires 10% down payment and does not have PMI.