Bank Statements Deposits As Income
What is a Bank Statement Income Mortgage?
A bank statement mortgage loan is designed for self-employed individuals or those with irregular income who may not have traditional proof of income like tax returns, pay stubs, W-2s, or 1099s. Instead, Generation Mortgage Associates LLC use your bank statements to verify income over a specific period, typically 12 to 24 months. This type of loan can be beneficial for business owners, or self-employed workers who have substantial deposits in their accounts but may not show consistent income on tax documents.
Key Requirements
- No Tax Returns, W2, 1099, or paystubs
- Income based on your latest 12 months deposits in your bank statements (personal or business)
- Up to 90% with 680+ score (6 months reserves)
- Mid score starts at 620 for 75% (3 months reserves)
- ITIN ok may vary LTV
Bank Statement Loan Calculator
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Qualifying Income Details
Monthly Debts & Expenses
Loan Terms
How to Apply for a Bank Statement Income Loan
1
Step 1: See What You Qualify For
Estimate your qualifying income based on your bank statement deposits.
2
Step 2: Apply
Submit your application online or schedule an appointment with a consultant.