Bank Statement Program Overview (Video)

Maybe you've heard of a bank statement loan, but what is it?

Well, it's a traditional mortgage product that operates very similar to many other mortgage programs that you've seen except that the income qualification is based on bank statement revenue and expenses versus tax return analysis. So if you're self-employed, if you've been in business for 2 years, and you have a history of bank statements (whether 12 months of bank statements or 24 months of bank statements) this program can use the income and expenses from your business bank statements to calculate your qualifying income rather than just what is on your 2-years of recent tax returns. (We all know that sometimes those numbers are a little bit different for lots of different reasons). If you need help qualifying for a mortgage loan utilizing your business bank statements reach out to the Kristoff Team and we can look through those numbers to see if we can't find some options for you.