Bank Statement Loans

Our Bank Statement loans are perfect for those that do not meet the Full Doc requirements of W2’s and paystubs, or do not show enough “Net Income” on their tax returns. This loan is great Alternative for Self-Employed persons, 1099 employees or contractors and “Gig-economy” workers such as Uber, Lyft, and DoorDash drivers, etc. Usually, these types of incomes are reported on a Schedule C in a person’s tax returns and often there are many deductions that lower a person’s Net Income to the point they cannot qualify going Full Doc. With our Bank Statement programs qualification is based on the average monthly gross deposits shown on the borrower’s bank statements, less any non-income deposits. Bank Statement qualifiers can also have W2 / Full Doc co-borrowers. Available to U.S. Citizens, Permanent Residents, and Non-Permanent Resident Aliens (ITIN).

Benefits of Bank Statement Loans

  • Great for Self-Employed, 1099 employee and ‘Gig-economy’ workers.

  • 2 month, 12 month, and 24 month bank statement options.

  • Up to 90% LTV available for home purchase and rate and term refinance.

  • Up to 85% LTV available for cash-out refinance.

  • Available for owner-occupied, 2nd homes, and investment properties.

  • Available to First Time Home Buyers; even those currently living Rent-Free.

  • Maximum loan amount $3,500,000.

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