Bank Statement Mortgage – Get Approved for a Loan

Get the loan you need with a bank statement mortgage

Are you self-employed or have a nontraditional income? If so, you may have difficulty qualifying for a traditional mortgage. But that doesn’t mean you can’t own your own home. A bank statement mortgage is designed for people in your situation.

At Right Track Financial, we specialize in bank statement mortgages. We know the ins and outs of this type of mortgage, and we will do everything we can to get you approved and in your own home.

If you are self-employed or don't have traditional income, a bank statement mortgage could be the answer.

If you are self-employed or don’t have traditional income, a bank statement mortgage could be the answer.

You deserve the home you want

Don’t let the big banks tell you that you don’t qualify for a mortgage. 

Let Right Track Financial help you get the bank statement mortgage you deserve. We’ll work with you to gather the necessary documentation and compile your bank statements. Then we’ll submit everything to our trusted lenders, track the progress of your loan, and get you approved. Depending on your situation, we might be able to get you a bank statement mortgage with a low down payment.

You’ll be in your new home before you know it.

Contact us today to get started.

What is a Bank Statement Mortgage?

A bank statement mortgage is a type of mortgage loan that is available to self-employed borrowers or borrowers with nontraditional income. This type of mortgage is designed to help people who may have difficulty qualifying for a traditional mortgage

The big banks usually don’t want anything to do with borrowers that don’t fit neatly into the traditional borrower box. If your tax returns aren’t up to snuff, or you have credit issues, most of the big banks won’t even look at you.

We’re different!

Just because you’re self-employed or have a nontraditional income doesn’t mean you can’t own your own home. A bank statement loan program can help you get the financing you need.

We want to make the dream of home ownership available to everyone – Get in touch with us today!

For those with non-traditional income, a bank statement mortgage could be the key to securing a loan, and a home!

For those with non-traditional income, a bank statement mortgage could be the key to securing a loan, and a home!

 

What are the benefits of a bank statement mortgage?

There are several benefits of a bank statement loan, which make them an attractive option when you have difficulty qualifying for traditional loans.

  • You can qualify with less documentation – A bank statement mortgage doesn’t require tax returns or a detailed business plan. This is most beneficial if you’re self-employed or have a nontraditional income
  • You don’t need perfect credit - Another benefit of a bank statement mortgage is that you don’t need perfect credit to qualify. If you have less than perfect credit, you may still be able to get approved at reasonable rates.
  • You can get financing for investment properties – If you’re looking to finance an investment property, a bank statement mortgage may be a good option. This type of mortgage is available for both primary and secondary homes.

Self employed bank statement mortgage

Those who are self-employed are usually the best candidates for a bank statement mortgage because the money that flows through their bank statements is enough to get them qualified. People who are self-employed often don’t have the tax documents that big banks want to see, which can make it all but impossible to get approved.

A self employed bank statement mortgage is available to self-employed borrowers. Just because you’re self-employed or have a nontraditional income doesn’t mean you can’t own your own home. A bank statement loan program can help you get the financing you need.

Get in touch with us today!

Bank statement loan rates

Bank statement mortgage rates will vary depending on the lender and the type of loan you qualify for. Generally, bank statement loan rates are higher than traditional mortgage rates. This is because bank statement loans are considered to be high-risk loans. However, at Right Track Financial, we work with a network of bank statement mortgage lenders who offer competitive rates. You can start the process by using the form below, or give us a call at (800) 822-7482 today.

Qualifying for a Bank statement Loan

A bank statement loan is often a great choice for borrowers that don’t fit the traditional borrower mold. Provided you have bank statements that demonstrate adequate cash flow, getting approved is relatively straightforward. 

We will help you navigate the ins and outs of the bank statement mortgage application process, but if you want an idea of the requirements for qualification, you can read on.

Provide 12 or 24 months of statements

To qualify for a bank statement mortgage, you’ll need to provide 12 or 24 months of bank statements. This is to show that you have a consistent income. The lender will use your bank statements to verify your income and determine how much they’re willing to lend you.

No tax returns required

One of the benefits of a bank statement mortgage is that you don’t need to provide tax returns. This can be helpful if you’re self-employed or have a nontraditional income. If you don’t have tax returns, the lender will use your bank statements to verify your income.

Income verification

Bank Statement Mortgages are normally secured by people who are self-employed or have a nontraditional income. A bank statement mortgage doesn’t require tax returns for income verification. People who aren’t traditionally employed often worry about getting approved for a loan. That’s because the big banks don’t want the hassle of anything that is out of the ordinary. But you can use your bank statements instead of employment verification to qualify for a loan. 

Bank statement refinance

If you already have a loan and want to refinance, we can help. You often refinance to a bank statement mortgage and secure more favorable rates, or gain access to more money for repairs, or anything else. Or if you already have a bank statement mortgage and want to refinance to a traditional loan, we can help with that as well.

The bottom line is that we will find the best loan for you. We work with a network of bank statement mortgage lenders who offer competitive rates and terms. 

You can start the process by using the form below or give us a call at (800) 822-7482 today.

 

Get the home you want!

The bottom line is that we are here to help you get approved for a loan and moved into the home you deserve.

A bank statement mortgage can help you get the financing you need to purchase the home you want. Don’t let the big banks tell you that you don’t qualify for a mortgage.  Our bank statement mortgage lenders are waiting to give you a loan. Let Right Track Financial help you get the bank statement mortgage you deserve.

Contact us today to get started!

Right Trac Financial Group
110 Main Street
Manchester, CT 06042
Phone: (860) 647-7701

Right Trac Financial Group Trac Financial Group, Inc.
Mortgage Broker License Number: MB2709
Licensed in: Connecticut, Maine, Massachusetts, Florida, New York, Rhode Island, Vermont and Licensed by the New Hampshire Banking Department

Equal Housing Lender