QB Series 1
12 & 24 Month Bank Statement
With this program, we are providing non-traditional access to prime capital fostering homeownership for diverse underbanked individuals and families. See below for some of the key highlights of this program and download the program flyer to see more!
Personal Statements
- 100% of business-related deposits (must be 25% owner)
Business Statements
- Borrowers must have a minimum of 50% ownership in business.
- CPA-prepared P&L or CPA-prepared Expense Percentage Statement is required.
- Flat 50% Expense Percentage of deposits can be used on a case-by-case basis for business with traditionally low expenses.
Transfers and any non-business related deposits need to be excluded from Gross deposit calculation. Deposits that appear to be outside the norm will need to be sourced and explained.
NSF’s, negative balances and overdraft charges will be reviewed on a case-by-case basis and will need credit committee approval.
**Quontic Bank will validate your Bank Statement Income with a “Second Look”. Please email your AE the Income Calculator, Bank Statements (12 or 24 consecutive months, all pages), and P&L or Expense Statement for quick, 48-hour turn-time review.**
Note: Review process approximately 48 hours.
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Disclosure:
All lending products are subject to credit & property approval. Rates, program terms & conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions & limitations apply. Quontic Bank name & logo are registered trademarks. © 2019 Quontic Bank. All rights reserved.
Information is accurate as of the date listed below and may change without notice.