Bank Statement Loans at Park 65 Lending

A Bank Statement loan is mortgage that qualifies entrepreneurial income based on the most recent 12 or 24 months of bank deposits for your business. This is a wonderful solution for self-employed home buyers who can’t show enough income because they take too many business deductions when filing their tax returns. Our bank statement loan program does not require any tax return documents.

Qualification Decisions:

• Credit Score - Credit scores above 660 are typically required for bank statement loans. Like other loans, your rates will improve as you get closer to a 780 credit score.

• Down Payment — Bank statement loans start at 10% down, but the best rates are hard once down payment reaches at least 25%.

• Bank Deposits - We can utilize up to 85% of the most recent 12-months of business bank deposits towards your mortgage income, which increases your chances of an approval.

• Recent W2 Switch - For those recently switching from a W2 position to a contract position, we can use the signed contractual pay agreement with only 2 months of bank statements to qualify you.

Our best bank statement loan rates can be achieved with a 780 credit score borrower putting 25% down.

Benefits of a Bank Statement Loan:

• No Tax Returns Required - You don’t need to worry about not qualifying for a mortgage because you take a lot of business deductions when filing your tax return.

• Flexible Down Payment — With as little as 10% down, you can qualify for a bank statement loan.

• Investment Eligible — Bank statement loans can also be used to purchase homes for investment purposes.

Is a Bank Statement Loan Right For You?

Bank statement loans are a great option for many borrowers, especially self-employed borrowers who can’t qualify for a mortgage with their tax returns. To determine if a bank statement loan aligns with your needs, please call a Park 65 Lending loan officer today.