Bank Statement Loan: Here’s How to Qualify

Bank Statement LoanBank statement loan is very different from normal conventional home loans. The primary requirement for bank statement loans is to have proven 12 to 24 months bank statements with income, regular monthly deposit. With this bank statement loans program, you do not need to have verified tax documents or W2.

Recently, pre-underwriting guidelines changed making it possible for individuals to borrow based on proof of bank deposits. Bank statement loans are designed to help borrowers qualify for a mortgage without providing tax returns. Loans are available for money to purchase a home or for refinancing. is the industry leader for the new Bank statement loan program. We understand that qualifying for a loan is very difficult without a 2 year employment history. Our low doc mortgage loans are designed to simplify the underwriting approval process with low interest rates and terms that are very similar to conventional loans; such as no prepay penalty.

Bank Statement Loan Requirements:

  • Personal bank statements spanning a period of 12 to 24 months
  • A credit score of 660 or higher

Bank Statement Loan Features:

  • Borrow up to 80% of the Value [20% down payment required for purchases]
  • Borrow up to $1 million dollars [$2 million with 30% down payment]
  • No tax returns required for underwriting
  • Low Interest rates: comparable to conventional market rates
  • Quick underwriting; pre-approvals on the first call and conditional approvals in 24 to 48 hours
  • No Prepay penalty if owner occupied

Self-employed borrowers can use bank deposits to calculate income. Our bank statement loan program application is streamlined and simple. It takes minutes to apply for the bank statement loan and approvals are given on the phone.

When you call, we immediately let you know if you qualify for a low doc home loan. For low doc home loans, the underwriting process is streamlined and funds are usually provided in 30 days or less. The bank statement program is an excellent alternative to conventional loans. Call today to find out if you qualify and get the process started.

Bank Statement Loan: Here’s How to Qualify
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