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Bank Statement

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Bank Statement Loans at Your Favorite Lenders

Flexible Mortgage Solutions for Self-Employed Borrowers

Good news for self-employed individuals! At Your Favorite Lenders, you can qualify for a mortgage even if you declare negative income on your federal income taxes. Our 12-month bank statement loan program offers a streamlined application process without requiring federal income tax returns.

 

Why Choose a Bank Statement Loan?


  • No Tax Returns Needed: Use your bank statements from the last 12 months to verify income, simplifying the application process for self-employed individuals.


  • No PMI: Lower your monthly payments with no Private Mortgage Insurance required, making your mortgage more affordable.


  • Flexible Loan Amounts: Apply for loans from $250,000 to $10,000,000, catering to both modest and luxury property purchases.


  • Down Payment: A down payment of 10-20% is required, based on your credit score, ensuring competitive mortgage rates and financial stability.

Before anything, make sure you have these things in order to qualify for a Bank Statement Loan.


  • Credit Score: Ensure you have a good credit score. Your credit score will influence your mortgage rate and down payment requirements.


  • Business Longevity: Your business must have been in operation for at least 2 years. This proves the stability and success of your enterprise.


  • Consistent Income: Maintain consistent deposits in your bank account. We will average your deposits over the 12–24 month period to assess your qualifying income.


  • Down Payment: Prepare for a down payment of 10-20%. The exact percentage will depend on your credit score and overall financial profile.


Secure your mortgage with a bank statement loan and enjoy the flexibility and benefits tailored to self-employed borrowers.


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Our Bank Statement Loan Process

Here’s how our loan process works:

  1. Complete our simple Bank Statement Loan Qualifier
  2. Receive options based on your unique criteria and scenario
  3. Compare mortgage terms
  4. Choose the offer that best fits your needs
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(714) 340-0200
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