Bank Statements
A bank statement loan is designed for self-employed individuals with strong cash flow but limited traditional W-2 documentation. Instead of relying only on taxable income, lenders review eligible personal or business bank statements to evaluate cash flow and determine qualifying income.
Key Features:
- No tradeline requirement w/ 3 credit scores
- 50% standard expense
- Min 10% expense with accountant letter
- Non-perm up to 90% LTV
- Unlimited cash-in-hand
- SFR, condotels, condos, studios, 2-4
- Loan amounts up to $4m
- Loan amounts up to $5m for preferred brokers