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Bank Statement Loans

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Unlock homeownership with bank statement loans—designed for self-employed individuals and those with non-traditional income.

Bank statement loans provide a unique solution for borrowers who may not qualify for traditional mortgages due to non-traditional income documentation. Instead of relying on tax returns or W-2s, these loans use your bank statements to verify income, making them ideal for self-employed individuals, freelancers, and business owners. Learn how bank statement loans can help you achieve your homeownership goals.​​​

What Are Bank Statement Loans?

Bank statement loans are a type of non-qualified mortgage (non-QM) that allows borrowers to qualify based on their bank statements rather than traditional income verification methods. Lenders typically review 12 to 24 months of personal or business bank statements to assess your income and cash flow.

Who Can Benefit from Bank Statement Loans?
Self-Employed Individuals: Business owners, freelancers, and gig workers with fluctuating income.
Non-Traditional Income Earners: Those who rely on commissions, bonuses, or investment income.
Borrowers with Significant Tax Deductions: Individuals whose tax returns may not reflect their true earning potential


Key Features of Bank Statement Loans
     ☑️No need for W-2s or tax returns.
     ☑️Flexible income verification through bank statements
     ☑️Options for primary residences, second homes, and investment properties
     ☑️Higher down payment and interest rate requirements compared to conventional loans.


How to Qualify for a Bank Statement Loan
     1.Provide Bank Statements: Submit 12 to 24 months of personal or business bank statements.
   
 2.Demonstrate Cash Flow: Lenders will calculate your average monthly income based on deposits.
    3. Meet Credit Requirements: A good credit score improves your chances of approval.
 
   4.Prepare for a Down Payment: Typically, a larger down payment is required compared to                        traditional loans.

Advantages and Considerations Advantages:
     ✔️Tailored for self-employed borrowers.
     ✔️No need for extensive tax documentation
     ✔️Flexible loan terms and property options.


If you’re self-employed or have non-traditional income, a bank statement loan could be the perfect solution for your home financing needs. However, it’s essential to weigh the pros and cons and consult with a mortgage expert to determine if this option aligns with your financial goals

Ready to explore your options? Contact us today to learn more about bank statement loans and find the right solution for your unique financial situation

Visit

21451 Eva St.

Montgomery, TX 77354

mortgage

Call

 713-737-5027

home loans

Contact

Michelle Thompson

mthompson@afncorp.com

American Financial Network Michelle Thompson

American Financial Network, Inc

Headquarters Address: 10 Pointe Drive Brea, CA 92821

LO NMLS: 298522
NMLS: 237341

 
Equal Housing Lender
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