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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.

How Do I Qualify?

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.