Is the Bank Statement Qualifier Loan a Good Fit for Me?

Have you heard of the Bank Statement Qualifier Loan from Luxury Mortgage Corp®? This unique program offers an innovative home financing solution for borrowers who may not qualify for traditional mortgages, due to lacking consistent, documentable income.

With the Bank Statement Qualifier Loan, eligible borrowers can use their bank statements to qualify for the loan, based on balances in deposit accounts instead of relying on their W-2s or tax returns. This provides a level of flexibility and accessibility that other conventional mortgage options simply don’t have. But how do you know if this program is right for you?

The Bank Statement Qualifier Mortgage Could Be Right For You If…

1.) You’re self-employed.

Being self-employed can be richly fulfilling. After all, who doesn’t love being their own boss? Unfortunately, when it comes to applying for credit, being self-employed can make things a little more complicated. That’s why we’re pleased to offer the Bank Statement Qualifier Mortgage. This loan program may be ideal for self-employed borrowers, as it doesn’t require proof of regular, consistent income. We simply look at balances on deposit bank statements to ensure the borrower has sufficient means to repay the loan as agreed. And did we mention you can use personal or business bank accounts to qualify? It’s just another way we make borrowing more flexible.

2.) You’re an investor.

Real estate investors often have sufficient means to repay their loans, and typically have significant assets, too. However, it can be difficult for investors to document regular, consistent employment or income. The Bank Statement Qualifier Mortgage makes it easier for investors to access the financing they need to continue to build a portfolio of income-generating properties.

3.) You’re in between employment.

Most lenders want to see a steady record of employment and consistent income for conventional mortgages. However, with the Bank Statement Qualifier Loan from Luxury Mortgage, even those who are in between jobs or taking a hiatus may qualify. As long as the borrower can provide sufficient proof of funds via personal or business bank accounts (and meet other qualifying criteria*), they are likely to find the solution they need in this unique program.

Not sure this program is right for you? No problem. We offer a wide selection of home financing opportunities and would be glad to help you compare options to find something that works for your scenario.

*Additional qualification factors include credit history, credit score, property appraisal and other factors determined necessary by the lender. These guidelines are subject to change. Please consult with a Luxury Mortgage Corp. professional for the most accurate and up-to-date loan qualification requirements.

Ready to Learn More?

Connect with Luxury Mortgage today to learn more about the Bank Statement Qualifier Mortgage.