Bank Statement Loans- BANKSTATEMENT.LOAN

BANK STATEMENT LOANS

BANKSTATEMENT.LOAN

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BANK STATEMENT LOANS

The bank statementloan program is perfectfor borrowers who areself-employed.



Other Self EmployedPrograms:

Stated Income

Loans

No Doc Loans

No Ratio Loans



Self-employed borrowerscan make quite a bit ofmoney, more than enoughto qualify for a bankstatement loan. However,the struggle with getting atraditional loan for self-employed borrowers is thedocuments they’rerequired to provide.



Sometimes lenders will accept a letter from a Certified PublicAccountant or CPA instead of bank statements or otherdocumentation.

If you are planning on submitting a letter from a CPA to your lender,these are some other documents that will need to accompany thatletter:

Business License

Letter from your Financial Institute

Self-employment Insurance Coverage

Reference Letters

Tax Return Transcript



The bank statement loanprogram is favoredamong self-employedborrowers. Your lenderwill most likely use yourbank statements to addup the total amount ofdeposits received anddivide them by either 6,12 or 24 months in orderto determine youraverage monthly income.



T O L E A R N M O R EBANKSTATEMENT.LOAN

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C L I C K H E R E



Justin McHood is Americas MortgageCommentator and has been providing

Mortgage commentary for over 10 years.

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Mortgage Commentator


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Bank Statement Loans- BANKSTATEMENT.LOAN

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