Bank Statement Non-Conforming Loans
When you’re self-employed, you don’t have the luxury of being able to provide pay stubs or show net income on tax returns when you’re trying to get a home loan.
Not having these required documents can make getting approved difficult, even if you have good credit. Our Bank Statement Loan program allows self-employed borrowers to seek a home loan without showing net income on taxes or pay stubs.
Bank statement non-conforming loans are used for primary residence, second homes and investment properties.
- Purchase
- Self Employed – Bank Statement / 1099 / Profit and Loss loans.
- Refinance (rate and term AND cash out)
- Fixed Rate & Adjustable-Rate options available
- 30 and 15 year terms available
What Is A Bank Statement Loan?
To apply for a conventional mortgage loan in Michigan, borrowers typically must provide pay stubs and W-2’s from the past two years. But if you are self-employed or own your own business, you may not have W-2’s or pay stubs to produce. A bank statement loan in Michigan requires only the bank statements of the self-employed borrowers to determine if they can produce sufficient income to justify the approval for a mortgage loan.
