Bank Statement Loan

Are You Self-Employed?

If you’re looking to buy a home, we have good news. Utmost Pro, Inc. offers a Bank Statement Loan Program for self-employed borrowers as well as those whose employment histories and tax returns may not reflect their viability for a mortgage. 

Rates often start in the 5.5% range and increase with higher LTV ratios and/or lower credit scores.

Add all deposits for all 24 months and divide that amount by 24 .

Ex. 24 months deposits total = $200,000 / 24 = $8,333 a month income.

 Bank Statement Loan Program Details:

  • Personal bank statements (12-24 months)
  • No tax returns required
  • Borrow up to 85% of the value of the home
  • Debt-to-income ratio up to 50%
  • Loans up to $2 million
  • For primary and secondary homes and investment properties
  • Non-warrantable condominiums
  • 30-year fixed rate — no pre-payment penalty
  • 5/1 and 7/1 ARM
  • Owner-occupied, 2nd homes and investment properties
  • Self Employed – Must provide business license, Tax Preparer’s letter or corporate paperwork.
  • Personal Bank Statements: 100% of Deposits
  • Business Bank Statements: 50% of Deposits
  • Start in the 5.5%
bank statement loan