Bank Statement Mortgage
A great option for self-employed borrowers who need an alternative method to show cash flow
An In-Depth Look at Bank Statement Loans...
CPL's Bank Statement Mortgage Program is the ideal choice.
This 15-year loan option is fully amortized with consistent monthly payments. It combines the benefits of a 30-year loan, including lower interest rates and quicker home ownership, but is particularly advantageous for self-employed borrowers who require an alternative approach to demonstrate their actual business cash flow. Ownership of the business doesn't necessarily need to be 100%, making it inclusive for a broader range of self-employed individuals.
Self-employed borrowers often face challenges in the mortgage industry, but our Bank Statement program is designed to address this issue by providing a viable loan solution for creditworthy self-employed individuals who might otherwise struggle to qualify for a home loan.
Here’s how our home loan process works:
Loans up to $3 million with a minimum of $150,000
12 or 24 months business or personal bank statements
Two years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
Rates are 30-year fixed
Two years self-employed required
Borrowers can own as little as 50% of the business for business bank statements and 25% for personal bank statements
Purchase and cash-out or rate-term refinance
Owner-occupied, second homes, and non-owner occupied
1099 option available
40 year fixed interest only available
Most loans will be qualified on an expense factor of 50%. Companies with a lower expense factor will require a statement from a third party CPA or tax preparer. (Some industries with traditionally higher expense factors will be underwritten with a 70% expense factor.)
Non-warrantable condos allowed
Loan amounts greater than or equal to $1,500,000, a borrower paid second appraisal must be obtained
Why A Bank Statement Loan?
A bank statement program is a home loan program that uses bank statements to calculate a borrower’s income. This is an alternative documentation loan type instead of using tax returns and W-2s in the qualification process. These loans are for self-employed borrowers who typically have substantial tax write-offs that make it challenging to demonstrate the necessary income to prove their ability to repay the loan. The bank statement loan programs use either personal or business bank statements to qualify borrowers.
Your Home Loan Could Be Fully Funded
30 Days From Now
Let our experienced team of Mortgage Advisors guide you through the buying or
refinancing process quickly, efficiently, and confidently.
Steady Fixed Interest Rates
Your loan's interest rate and duration remain fixed throughout the entire life of your loan.
Flexible Adjustable Rate Mortgages
Your interest rate may fluctuate in response to market conditions, but the initial rate could be lower than that of a fixed-rate option.
Conforming Home Loans
Loans available for amounts up to $726,200 in the contiguous 48 states.
Jumbo & Super Jumbo Loans
Loan amounts vary depending on your state and county, but these loans generally come with higher interest rates due
FHA, VA, & USDA Loans
Backed by the federal government, these loans usually feature lower interest rates but come with different eligibility criteria.
Terms from 5 to 30 Years
Select your loan term based on your financial goals.
See What You Do!
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Lending Capital Mortgage, LLC. offering personalized mortgage solutions, fast customized quotes, competitive rates & service with integrity.
CONTACT INFO
info@lendingcapitalmortgage.com
12 Penns Trail, Newtown PA 18940
(215) 776-8980
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Company NMLS# 1845226 Licensed In: PA
Licensed by the Pa Department of Banking and Securities
