A bank statement mortgage loan is a type of loan that is becoming increasingly popular among home buyers and investors. With this type of loan, borrowers can use their bank statements to demonstrate their income instead of traditional income verification methods such as tax returns or W-2 forms. This can be beneficial for those who are self-employed or have irregular income streams. The loan amount and interest rate will depend on factors such as credit score, down payment, and debt-to-income ratio. Overall, a bank statement mortgage loan can be a useful option for those who don't meet the requirements of traditional mortgages.
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Disclaimers: The principal and interest payment on a $400,000 30-year Fixed-Rate Loan at 6.375% and 80% loan-to-value (LTV) and 760 credit score is $2,495. The Annual Percentage Rate (APR) is 6.722% with estimated finance charge of $10,000. The principal and interest payments, which will continue for 360 months until paid in full, does not include taxes and home insurance premiums, which will result in a higher actual monthly payment. Rates current as of 3/5/2024. Subject to borrower approval. Disclosure: All lending products are subject to credit & property approval. Rates, program terms & conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions & limitations apply.
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Our team of licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as Bank Statement Mortgages...
