A bank statement loan program is a type of home loan program that uses bank statements to determine a borrower’s income instead of tax returns or W-2s. This alternave documentaon opon can be helpful for self-employed individuals or gig workers who may have inconsistent income, claim large tax deducons, or don’t receive tradional paychecks. Lenders may require 12–24 months of bank statements to calculate a borrower’s monthly income by averaging deposits. They may also consider 100% of personal bank statements’ gross deposits and 50% of business bank statements’ gross deposits.
For mor informaon call Reggie Gomez at 407-8832778