Bank statement loan programs are a great option for self-employed borrowers looking to purchase or refinance their home. You can use personal and/or business bank statements without requiring tax returns as a method to calculate income. The statements are used to prove the ability to repay the loan. Borrowers do not have to own 100% of the business. Self-employed borrowers represent an underserved market in the mortgage industry.  Bank Statement programs provide a loan solution to help underserved credit-worthy self-employed borrowers who otherwise would not qualify for a home loan. 

Bank Statement Loan Highlights

• Credit Scores Starting at 660
• 12 or 24 Month business or personal bank statements
• Available for primary, secondary or investment properties
• W-2 or tax returns not required
• Two years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
• Rates are 30-year fixed
• Two years self-employed required
• Borrowers can own as little as 50% of the business for business bank statements and 25% for personal bank statements
• Loans up to $3 million with a minimum of $150,000
• Purchase and cash-out or rate-term refinance
• 1099 option available
• 30 year fixed interest only available