Bank Statement Mortgages are an alternative option typically used by individuals who are self-employed, have seasonal/inconsistent income flow, and freelance workers. The program does not require tax returns, paystubs, or W-2s which is a great option for borrowers who cannot/ choose not to provide the documents that would typically be considered when qualifying for a traditional mortgage.
- No statement of income or liabilities on the Loan Application (1003)
- Eligible properties include: Owner-Occupied, 1-4 Family, Condo & Co-Op
- Cash-Out Refinance Options Available
- Loan Amounts up to $2,000,000
- 100% of funds for down payment, closing costs, and reserves may be gifts.
- 5/1 ARM, 7/1 ARM, 15- year Fixed, and 30- year Fixed terms available