What is a Bank Statement Mortgage?
A bank statement mortgage is a loan program that uses alternate documentation, like bank statements, to determine qualification rather than the more traditional tax return documents. These programs can help those who are self-employed, but due to substantial tax write-offs, they have difficulty demonstrating to the bank that they have the ability to repay the loan.
If you are self-employed, and have been turned down or had difficulty getting approved for a mortgage loan because of the traditional loan requirements, we understand, and we can help!
We can find programs that use personal or business bank statements and assets to determine eligibility, rather than personal tax returns. Available for refinancing and for purchase. 12-24 months bank statements and additional documentation will be required for approval. If you are a business owner, freelancer, contractor, entrepreneur, or have non-traditional income, call today to see if you qualify for a bank statement mortgage.
Call Capital Mortgage for a free consultation – 208-854-7800!