Learn About a Bank Statement Loan
A bank statement loan let’s a borrower’s income to qualify come from the borrower’s business or personal bank statements instead of using conventional documentation such as tax returns, W2s & paystubs. Bank statement loans are generally used by borrowers who are self-employed or an independent contractor. Borrowers do not need to own 100% of the business. Bank statement loans provide an alternative for some borrowers that otherwise might not qualify for a mortgage.
