12 Month Bank Statement

Loan Trust offers a loan solution for self-employed borrowers who would rather show bank statements than tax returns. Click here to get a rate quote.

What is a bank statement loan?

A bank statement loan is popular among self employed borrowers and independent contractors. This loan program is also know as a stated income program basically meaning you will not have to provide the standard financial documents such as tax returns, W-2’s or paystubs, but you can use bank statements for proof of income. Although it’s view differently but it’s actually a cash flow loan, similar to business loans for debt financing.

What are the qualifying guidelines for the 12 month bank statement loan?

12 Month Bank Statement
Max of LTV/CLTV/HCLTV is 85.01 – 90.00, And FICO is 740-759 Max of LTV/CLTV/HCLTV is 60.01 – 85.00, And FICO is 600 & Up Income Verification Type is 12 Mo. Bank Statements Up to $4 Million Loan Amount Self Employed Borrowers and 1099 Borrowers No Reserves Required <75% LTV No 4506T/No K1’s/No P & L’s No Mortgage Insurance Condo up to 85% CLTV Condotels allowed Cryptocurrencies accepted for reserves, down payments, and closing costs

Qualify with 100% on Personal Account Deposits or 50% on Business Account Deposits (12 Consecutive Months)

Max Cash Out in Hand $1 Million
30 & 40 Year Fixed, 5/7 & 7/6 ARM
3 Months Reserve
Gift Funds for Reserves Allowed
Combination of Business & Personal Bank Statements Allowed