Personal or business statements
Programs may review 12 or 24 months of eligible statements and apply an expense factor or other method to estimate usable income.
Loan Programs
Bank statement loans for self-employed borrowers
A bank-statement program may analyze eligible deposits and cash flow instead of using traditional tax-return income. It is alternative documentation, not an absence of documentation.
Business activity must make sense
Deposits, transfers, unusual activity, ownership, time in business, and expense documentation may need verification.
Expect different terms
Down payment, credit, reserves, rate, fees, and property requirements may differ from agency financing.
Compare standard first
I will evaluate traditional and alternative documentation so tax-return add-backs or another standard option are not missed.
Written by Marta Lillard
25+ years of mortgage experience, explained in plain English.
Mortgage Broker · First Coast Mortgage Funding · NMLS #879436 · Licensed in Florida and Georgia
Questions about your options?