Bank Statement Loans
The perfect option for borrowers who self-employed business owners.
Self-employed borrowers represent an underserved market in the mortgage industry. NW Alternative Mortgage's bank statement loan program is the perfect option for self-employed borrowers who need an alternative method to show the true cash flow of their business.
Our Bank Statement program provides a loan solution to help underserved credit-worthy self-employed borrowers who otherwise would not qualify for a home loan. Contact our team today to find out if a bank statement loan is the right solution for you!
Bank Statement Loan Features
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Loans up to $3 million with a minimum of $150,000
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12 or 24 months business or personal bank statements
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Two years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
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Rates are 30-year fixed
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Two years self-employed required
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Borrowers can own as little as 50% of the business for business bank statements and 25% for personal bank statements
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Purchase and cash-out or rate-term refinance
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Owner-occupied, second homes, and non-owner occupied
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40 year interest only available
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Most loans will be qualified on an expense factor of 50%. Companies with a lower expense factor will require a statement from a third party CPA or tax preparer. (Some industries with traditionally higher expense factors will be underwritten with a 70% expense factor)
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Loan amounts greater than or equal to $1,500,000, a borrower paid second appraisal must be obtained
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Non-permanent residents allowed
Conventional vs Bank Statement Loans
NOTE: It's important to note that the specifics of conventional and Non-QM mortgage loans can vary depending on many factors. This chart provides a general overview of the key differences between the two types of loans. Contact us at 503-343-7999 to learn more about the lending solutions we offer!
Contact Us
Lending Office
17125 Boones Ferry Rd, Lake Oswego, OR 97035
Phone
Direct Line: 503-343-7999
Office Hours
Mon - Fri
9:00 am – 5:00 pm