One Month Bank Statement Loan
Are You Self-Employed?
If you’re looking to buy a home, we have good news. We are now offering a One Month Bank Statement Loan Program.
Bank Statement Loans are a great way to get the loan you need to purchase or refinance. Even though the days of stated income are gone does not mean there are not alternatives out there. In fact, these loans are considered “Alternative Documentation” loans.
Rates often start in the 5.5% range and increase with higher LTV ratios and/or lower credit scores.
Self-employed Borrowers (two-year history required by CPA Letter or Business License) is required.
- Income is ATTESTED to and DECLARED, deposits into account are NOT the determinant figure
- Purchase Max LTV of 75%
- Refinance Max LTV of 70% (rate and term or cash out)
- Borrowers with a minimum Credit Score of 700
- Maximum loan amount of $3,000,000
- Minimum loan amount of $250,000
- Owner-occupied transactions
- SFR / Condo / Townhouse Property Types
- Most recent personal account’s bank statement with no NSFs and positive ending statement
- 5/1, 7/1 or 30yr programs
- Cash out is unlimited
- Property must be in good condition and conform to the area
- No rural properties
- $1,000,000 Max loan amount
- Up to 50% gift funds allowed