Bank Statement Loan
Bank Statement loans are designed for self-employed homeowners or prospective homeowners that would
benefit from qualifying for a loan using alternative income documentation. For traditional mortgages, a self
employed homeowner must submit tax returns for income qualification purposes. With a Bank Statement loan,
tax returns are not required. Instead, the self-employed borrower qualifies based on the average business
related deposits using 12 or 24 months of personal or business bank statements
Understanding
Bank Statement Loans
Because W2s and Tax Returns are not used in Bank Statement mortgage
loans, Personal Bank Statements and/or Business Bank Statements are
reviewed whereby business-related deposits into the respective accounts
are reviewed to evaluate the borrowers ability to pay back the loan
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