Bank Statement Loans
Bank Statement Loans help business owners, the self-employed, gig workers, or retired borrowers get a home loan based on bank statements instead of tax returns.
As seen in:
Top military lender
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5-Star Lender
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CALHFA
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TOP 100 MORTGAGE COMPANIES
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TOP 250 LATINO MORTGAGE ORIGINATORS
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NMP
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NMP
TOP 15 VA LENDER
Scotsman Guide
Product highlights
- Up to 100% of eligible deposits averaged for income
- Qualify using 12–24 month options including • Personal bank statements and/or business bank statements
• Third party prepared expense statement
• Third party prepared P&L statement - 600 minimum credit score
- Debt-to-income ratios up to 55%
- Loan amounts up to $4,000,000
- Up to 90% LTV to $1.5M for primary residence purchase
- Up to 85% LTV to $1.5M for second home & investment property
- Multiple businesses eligible
- Other income types can be combined with bank statement qualifying
- Interest only available
- No mortgage insurance required over 80% LTV
- Departing residence waiver options available
Borrower advantages
- Business owners can show 12-24 months of bank statements
- Typically, we will accept debt to income ratios up to 50%
- Fixed-rate, adjustable or interest-only mortgages available
- Sellers can put up to 6% of the sales price in closing costs (2% for investment homes)
Realtor advantages
- Provides a solution for borrowers who would typically not qualify for traditional loans, but can demonstrate stable and consistent income each month
- Expand your reach with selfemployed or side-hustle borrowers with non-traditional loan solutions
Loan Programs
Loan Programs
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- Competitive rates
- Expert support
- Easy process