What is a bank statement mortgage? Bank statement loans are non-qualified mortgages (non-QM), meaning that instead of relying on pay stubs, tax returns or W-2s to show proof of income, buyers can use other documentation to demonstrate their ability to repay the loan. In lieu of the traditional income-reporting documents required for qualified and/or other […]
Self-employment is more than a trend. It’s a reality for 28% of the US population, or approximately 44 million individuals, who work for themselves. That number is rising.
A bank statement loan is a mortgage for which the underwriter uses the borrower’s bank statements to verify and evaluate income. Here’s a closer look at what bank statement loans are and who they can benefit.
Owning a rental property is one way to build wealth or generate a stream of passive income. Financing for a rental property does not have to be constrained by the borrower’s income or other debt.
For brokers, knowing the best alt doc loan, stated income loan and no document loan options is the way to help more qualified borrowers remove obstacles to buying a home or investment property.