Mortgages without Tax Returns or W2s
Many people rely on our AMP Suite to make the Bank Statement Loan Program their first choice. Bank statement loans can be non-traditional loans, or expanded criteria loans. These loans allow for other documentation to show the ability to repay. A bank statement loan is just like it sounds. It allows the borrower, as well as bank statements, to prove his or her income.
Benefits of a Bank Statement Loan
- The lender doesn’t need to see your tax transcripts or returns.
- Regular monthly income deposits are a part of your income statements.
- Lenders can view bank statements for 12 or 24 months.
- A bank statement home loan can be obtained with as little as 10% down
- We will typically accept a debt-to-income ratio of maximum 55 percent.
- Maximum loan amount is $5 million
Bank statement loans can also help if you’re considering a refinance but you’re not traditionally employed. All of the same parameters discussed here (like a decent credit score and consistent bank statements) apply to a bank statement refi.
Whether you’re a contractor, lawyer, small business owner, consultant, or any other professional who lacks a traditional employer, a bank statement loan can help you get the financing you need to buy your dream home. If you’d like to learn more about this type of loan — and your mortgage options in general — don’t hesitate to contact Sean at Pro-Line Mortgage Inc.
