Bank statement loans may help self-employed borrowers document cash flow without relying only on traditional tax-return income calculations. Kevin reviews deposits, business expenses, credit, assets, and property details to identify programs worth comparing.
Programs may review eligible personal statements, business statements, or a combination.
Qualifying income is calculated from eligible deposits after applying the program’s expense method.
These programs are commonly designed for borrowers with established self-employment income.
Options may be available for eligible purchases, rate-and-term refinances, and cash-out refinances.
Program choices may cover primary homes, second homes, and investment properties.
Compare the rate, fees, reserves, prepayment terms, and documentation—not only the payment.
Kevin can review your statements and business profile before you apply, explain how lenders may treat deposits and expenses, and help you compare the available documentation paths.
Clear answers to common questions about bank statement loans. Program requirements, rates, and availability can change; a complete application is required for loan-specific guidance.
A bank statement loan is an alternative-documentation mortgage that may use eligible bank deposits to estimate qualifying income. Calculation methods and required statement periods vary by lender.
Programs generally evaluate the length and stability of self-employment, eligible deposits, business expenses, credit, assets, reserves, property, and occupancy.
The exact checklist depends on the program. Common items include identification, income or alternative-income records, asset statements, housing history, property documents, and written explanations when needed.
Rates and costs depend on market conditions, loan type, term, property, occupancy, credit profile, equity, lock timing, points, and lender pricing. Review the Loan Estimate rather than relying on a headline rate.
Down payment and equity requirements vary by program and may be higher than some traditional mortgage options.
Depending on the lender, bank statement programs may support purchases and certain refinances, including cash-out transactions.
Timing depends on documentation, appraisal needs, title work, property questions, lender capacity, and transaction deadlines. Kevin will explain the expected milestones for the specific file.
Credit history and score can influence eligibility, pricing, down payment or equity, and reserves, but they are evaluated with the full application. A credit review is needed for scenario-specific guidance.
Eligible property types and occupancy categories vary by program; primary, second-home, and investment scenarios may be available.
You can apply online, schedule a conversation, call 775-313-1165, or email kevinedwards@arborfg.com.
