BANK STATEMENT MORTGAGE

A BANK STATEMENT MORTGAGE USES YOUR BANK STATEMENTS TO PROVE INCOME, RATHER THAN THE TYPICAL FINANCIAL DOCUMENTS SUCH AS W-2S AND TAX RETURNS. A BANK STATEMENT LOAN CAN BE BENEFICIAL FOR BUYERS WHO DON'T HAVE STEADY PAYCHECKS OR HAVE LARGE DEDUCTIONS. YOU'LL LIKELY BE ASKED ABOUT THE NATURE OF YOUR BUSINESS(ES) AND BE REQUIRED TO PROVIDE 2+ YEARS OF STATEMENTS FOR EACH ACCOUNT. THESE MORTGAGES TYPICALLY CARRY A HIGHER INTEREST RATE.