Bank statement program.
For self-employed borrowers whose tax returns do not tell the whole story. Income documented through bank statements, with the trade offs explained before anything is offered.
For self-employed borrowers whose tax returns do not tell the whole story. Income documented through bank statements, with the trade offs explained before anything is offered.
A mortgage that calculates your income from deposits into your personal or business accounts over a period of months, instead of from tax returns.
Business owners, contractors and freelancers whose deductions lower their taxable income below what they actually earn.
These loans usually ask for more down and price higher than a standard mortgage. Your loan officer shows you the difference.
How long you have been self-employed, the accounts you use and the home you have in mind.
From your statements, and compares the program against a conventional loan if your returns support one.
Underwriting on the statements, appraisal and closing. Support continues after.
You own a business, contract or freelance.
Your returns show less than you earn.
Your accounts show a steady pattern over a year or two.
You have what these programs ask for.
If your tax returns support the loan on their own, a conventional mortgage may price better. Your loan officer checks both.
Usually twelve or twenty-four. More months can mean better terms. Your loan officer tells you what applies.
Either, with different expense factors applied to business accounts. Your loan officer explains how income is calculated from each.
Typically two years, though some programs allow less with related experience.
Some programs allow it. Your loan officer tells you which do.
Usually, compared with a conventional loan. Your loan officer shows you the difference side by side.
Tell us about your business and the home you have in mind. A loan officer calculates your income from your statements and compares the options before anything is offered. Pre-qualifying will not affect your credit score.
Pre-qualify with bank statements
