Frequently Asked Questions
1. What is the 3 Months Bank Statement Program?
The 3 months Bank Statement Program allows borrowers to qualify using three months of bank statements instead of tax returns. It is best suited to self-employed borrowers with strong, recent cash flow.
2. How does the 12 Months Bank Statement Program work?
The 12 months Bank Statement Program uses twelve months of bank statements to calculate income. It works well for borrowers with variable or non-W2 income.
3. Why choose the 24 Months Bank Statement Program?
The 24 months Bank Statement Program reviews two years of bank statements to show income consistency. This often supports more stable approvals for fluctuating income.
4. Can I get a second mortgage using bank statements?
Yes. Bank statements can be used to qualify for a second mortgage without refinancing the first loan.
5. Can I refinance a home mortgage using bank statements?
Yes. Homeowners can refinance a home mortgage using bank statements instead of tax returns to lower payments, consolidate debt, or access equity.
6. Who qualifies for an ITIN bank statement mortgage
An ITIN bank statement mortgage is available to borrowers using an ITIN, who can document income through bank statements instead of traditional tax returns
