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Bank Statements

Small business owners and self-employed individuals have the ability to obtain permanent financing on their rental properties by underwriting their income, instead of rental property cash flow. We do this by analyzing bank statements and do not require tax returns.
  • Finance up to 80% loan to value; 75% for cash-out
  • 30-year term with competitive pricing
  • Low or No Prepayment Penalty options
  • Qualify based on Bank Statement Analysis

Lending Criteria

LOAN AMOUNT$75,000 to $1.5 million. Loan amounts outside of this range considered.
LOAN TERM30-year term; fully amortizing 30-year term; fully amortizing entire term, or I/O for 10 years with rate fixed for 5 years then adjustable every 6 months
LOAN TO VALUEUp to 80%; 75% for cash-out refinances with low seasoning
PREPAYMENT PENALTYMultiple PPP options available, including No PPP (depending on the state)
CLOSING TIMELINE2-3 weeks

Guidelines

FICO660 min hard credit assessment
ABILITY TO REPAY VERIFICATION12 months of bank statement transactions analyzed to calculate
income and determine loan size based on a 50% debt-to-income ratio
PROPERTY CONDITIONAppraisal showing C4 condition or better
ELIGIBLE PROPERTIESSingle-family, townhomes, condos (warrantable and non-warrantable), and 2-4 units. Portfolios are not allowed.
ELIGIBLE STATESNationwide except ND, NV, SD, VT, and WV
BORROWEREntities only. A personal guarantee is required. Non-recourse is not allowed.
MORTGAGE PAYMENTSTaxes and insurance are escrowed. Mortgage payments are collected
by ACH.