Bank Statement Mortgage Loan Programs
Alternative Income DocumentationBank Statement Mortgage Loans do provide self-employed borrowers, 1099 Sole Proprietor, and W2 commission business professionals a way to buy a home or refinance an existing mortgage without producing traditional income documents; personal tax returns, corporate tax returns, W2's, paycheck stubs, award letters, rental agreements, Schedule C's, 1040's, etc.
Bank statement loan programs are great for increasing the buying power of the under-served self-employed borrower by utilizing self-employed income bank account deposits (business and/or personal bank account) in lieu of traditional income documentation.