12-Month Bank Statement
Owner-Occupied
Quontic’s Bank Statement Program is a part of our alternative income mortgage offering. As a CDFI, it’s our mission to provide mortgage loan access to people who don’t fit the mold, such as the self-employed. The Bank Statement program allows qualified applicants to qualify for a home loan using bank statements rather than W2’s or tax returns.
The information on this page is provided for the benefit of mortgage professionals and not intended for consumers or the general public.
Submit your borrower’s scenario between 9 a.m. and 4 p.m. EST
Monday – Friday and we’ll get back to you with options in two hours or less.
Program Details
Income verification
- Personal, business or draft account reflecting
- Consecutive 12 month period
- 1099 tax form
- CPA, tax preparer, or enrolled agent’s letter confirming
- Self employment
- Business inception
- Percentage of ownership
Asset verification
- 1 month bank statement
- 100% gift funds allowed for down payment & closing cost
Borrower qualification
- Minimum 660 FICO score (Minimum 660 for FTHBs)
- Up to 50% DTI1
Program highlights
- Purchase & rate/term refinance up to 90% LTV
- Cash-out refinance up to 80% LTV, Up to $1,000,000 cash-in-hand proceeds
- 1-4 units, condos, PUDs2
- Second homes allowed
- Minimum 660 FICO (Minimum 660 for FTHBs)
- Loan amounts up to $3,000,000
- 5/6 ARM3, 7/6 ARM3, 15 Or 30 year fixed
- Interest only option available on all loan terms except 15 year fixed
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Disclosure:
This is intended for Mortgage Broker professionals. 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. © 2020 Quontic Bank. All rights reserved.
Information is accurate as of the date listed below and may change without notice.