Bank Statement Loan Program

12/24 Month Bank Statement

Our 12/24 Month Bank Statement loan is a perfect Non-QM option for the self-employed. Even if complex tax deductions make their tax returns less than straightforward, this program can provide a clearer picture of their current income or revenue to help them qualify.

Program features

Loan amount up to $4 million
DTI up to 55%
Min. 3 months of reserves required
Max cash-in-hand $500,000 for CLTV >65%, $1,000,000 for CLTV ≤65% to ≥55%, no max cash-in-hand limitation for CLTV <55%
Mortgage history 0 x 60 x 12, 0 x 30 x12, 0 x 90 x 24

Why choose our 12/24 Month Bank Statement?

Free service to calculate income
Combined statements accepted
No tax returns required

Program details

Personal, business, or combined bank statements
Min. 3 months of reserves
Concierge Service for income calculation
Min. FICO 620 or no score
Up to 90% СLTV purchase / Up to 80% СLTV cash-out
Up to $4 million purchase / Up to $3 million cash-out
Max cash-in-hand $500,000 for CLTV >65%, $1,000,000 for CLTV ≤65% to ≥55%, no max cash-in-hand limitation for CLTV <55%
12/24 month bank statement; 100% deposits for personal, 50% standard expense ratio for business, can be lowered with a third-party prepared Business Expense Letter or P&L Statement
Up to 55% DTI on owner-occupied
Primary, second home, investment
25% of business ownership required
Gift funds allowed (can be used as reserves for purchase transactions)
Credit event: 12 months from bankruptcy or foreclosure
Eligible property types: SFR, townhomes, condo warrantable/non-warrantable, condotels, 2-4 units, PUD, short-term rentals, SFR rural, manufactured housing, leasehold
Eligible terms: 40- & 30-year fixed, 5/6 & 7/6 ARM terms
120 months of I/O period, 240/360 months of amortization, qualified at amortized PITIA payment after I/O period, IO product not allowed in IL
Eligible citizenship: U.S. citizens, Permanent Residents, Non-Permanent Residents, ITIN
Eligible borrowers: Individuals, LLCs/Corp without a hit