What is a Bank Statement Loan?
A Bank Statement Loan Program allows you to verify your income on a mortgage application using documented bank deposits in place of tax forms. Traditional mortgage loans involve providing tax returns, W-2s and paycheck stubs in order to verify monthly income.
Purchase / Rate and Term Refinance / Cash - Out
- Down payment as low as 10% and up to 30%
- 12 months bank statements - 620+ score required
- 24 months bank statements - 580+ score required
- DTI up to 55%
- 6 months reserves required
- Minimum loan amount $100,000
- Maximum loan amount $2,000,000
- Properties: single family, townhouse, condo, non-warrantable condo, 2-4 unit and modular homes
- Personal and Business bank statements
- Profit & Loss Statements
- Can be used with ITIN Loan Program
**Additional Guidelines Apply. Ask For More Details.