These loans are designed for self employed people that have trouble proving their income through traditional means.
Very simply we take the aggregate deposits of your bank statements (can be personal or business) and use this for your income.
Variables of Bank Statement loans…
24 Months of bank statements.
12 Months of bank statements.
2 Months of bank statements.
1 Month bank statement.
The reason we offer multiple options for months is that sometimes a 12 month average won’t work as good for the borrower as one month.
We offer down payments as low as 10% on owner occupied bank statement programs.
We also offer multiple ways of calculating deposits, which is very helpful if there are issues with one calculation method.
Rates on these programs are usually only modestly higher than normal conforming rates.
If you or someone you know may benefit from this loan to purchase or refinance a house, please reach out to our offices.
Thanks for reading!
Have a great day!
Brett
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