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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.

Qualification Requirements

  • 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.

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