Bank Statement Income Verification Mortgage
This is a more flexible form of loan for those who previously failed to procure a loan due to the absence of tax returns or the net income showed by their tax return which was less than their true net income. It provides a great substitute from the conventional methods of ratification such as 2 years’ tax returns, W2’s and pay stubs, it merely requires the borrower to show that he is in a position of reimbursing the loan and as distinctly enunciated by the name this will require him to produce bank statements which reveal his or her income assuring the loaner of his potentiality of being able to repay.
This will admit a large number of people who were formerly ineligible in the eligibility net. By providing a bank statement of as less as 12 months to the lender the borrower will be able to show the amount of money he is eligible to borrow followed by a call or Verification of deposit (VOD) to the borrowers bank to adjudge the legitimacy of the provided documents. Nevertheless, the lender would still need to see the expenses you sustain as the proprietor of the business but will not inflict a penalty upon you in case you write off those expenses from your tax return.
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3 EASY STEPS
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Prequalification
Start with some basic info about your assets, credit profile, income. As a result – amount to borrow and the rate
Application
Funding
CALCULATE YOUR MORTGAGE
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We do not share information with any third party companies or resellers.
Quick Turnaround
We built technology that helps expedite the review of your loan documentation. This leads to faster closings and a better overall experience for our clients.
Credit score under control
Application process does not affect your credit score.
Online
You can allpy online, upload required dociments, schedule a conversation with a mortgage loan originator here. Everything at one place.
Transparency
Our technology ensures that you are kept up-to-date on the status of your loan application at all times. You will have secure access to your loan documentation throughout the process.
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NMLS 1739929
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