Bank Statement & Stated Income Loans
Not all borrowers meet the qualifying criteria for conventional mortgages. In most cases, the net income shown on tax returns can prevent many self-employed borrowers from being able to obtain a mortgage. Using deposits into personal or business bank statements could be the difference between being approved or declined for purchases and refinances.
- Bank statements and assets to help you qualify rather than tax returns/W2s.
- Credit requirements may be less restrictive than conventional financing options.
- Bankruptcies, foreclosures, and short sales can be fine after two years.
- Personal and business bank statements may be used qualify.
- Purchase loans require as little as 10% down and mortgage insurance is never needed.
- Credit scores down to 600
- 12 month personal bank statements
- 24 month business bank statements
- Loans up to $3 million
- DTI up to 50% considered
- Owner-occupied, 2nd homes and investment properties
- 2 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
- Interest-only options
- 1 year self-employed required
- Tax returns not required
*Qualifications may change from what is posted on this page. Additional terms and conditions may apply. Contact TriStar Finance, Inc. for the most up-to-date information.