Bank statement home loans allow a self-employed buyer the ability to qualify for a home loan by using 12 to 24 months bank statements to prove your income instead of the traditional methods like tax returns and pay stubs. This can be particularly helpful for self-employed individuals with an income that might not be fully reflected on tax documents due to write-offs.

Advantages

• Utilizes 12-24 months of personal or business bank statements from the same account
• No mortgage insurance (sometimes refrenced as PMI or private mortgage insurtance) required
• Up to 90% Loan To Value (as little as 10% down payment required)
• 660 minimum credit score required
• 50% maximum Debt To Income (DTI) Ratio
• $3 million max loan amount
• Minimum two years self employed with the same business