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Name: frmInquiry — POST

<form action="" method="post" name="frmInquiry" enctype="multipart/form-data">
  <div class="row">
    <div class="col-md-6 col-sm-12 mx-auto pb-2">
      <label for="purpose" class="fw-semibold">Purpose:</label>
      <select class="form-select" name="purpose" id="purpose">
        <option value="">Select an option</option>
        <option value="purchase">Purchase</option>
        <option value="refinance">Refinance</option>
      </select>
    </div>
    <div class="col-md-6 col-sm-12 mx-auto pb-2">
      <label for="use" class="fw-semibold">Use:</label>
      <select class="form-select" name="use" id="use">
        <option value="">Select an option</option>
        <option value="Primary residence">Primary Residence</option>
        <option value="vacation home">Vacation Home</option>
        <option value="investment property">Investment Property</option>
      </select>
    </div>
  </div>
  <div class="row">
  </div>
  <div class="row">
    <div class="col-md-6 col-sm-12 mx-auto pb-2">
      <label for="type" class="fw-semibold">Type:</label>
      <select class="form-select" name="type" id="type">
        <option value="">Select an option</option>
        <option value="Single family">Single family</option>
        <option value="Condo">Condo</option>
        <option value="Townhouse">Townhouse</option>
        <option value="2-4 unit residential">2-4 unit residential</option>
      </select>
    </div>
    <div class="col-md-6 col-sm-12 mx-auto pb-2">
      <label for="credit" class="fw-semibold">Credit:</label>
      <select class="form-select" name="credit" id="credit">
        <option value="">Select an option</option>
        <option value="619 or less">619 or less</option>
        <option value="620 - 679">620 - 679</option>
        <option value="620 - 679">620 - 679</option>
        <option value="740 +">740 +</option>
      </select>
    </div>
  </div>
  <div class="row">
  </div>
  <div class="row">
    <div class="col-md-6 col-sm-12 mx-auto pb-2">
      <label for="property-val" class="fw-semibold">Property Value:</label>
      <!--<input class="form-control" name="property_val" id="property-val" placeholder="Property Value">-->
      <div class="input-group mb-3">
        <span class="input-group-text">$</span>
        <input type="number" class="form-control" name="property_val" id="property-val" onchange="downPaymentList()" aria-label="Amount (to the nearest dollar)">
        <span class="input-group-text">.00</span>
      </div>
    </div>
    <div class="col-md-6 col-sm-12 mx-auto pb-2">
      <label for="down-payment" class="fw-semibold">Down Payment:</label>
      <select class="form-select" name="down_payment" id="down-payment">
        <option value="">Select a Percentage</option>
      </select>
    </div>
  </div>
  <div class="row">
  </div>
  <div class="row">
    <div class="col-md-6 col-sm-12 mx-auto pb-2">
      <label for="city" class="fw-semibold">City:</label>
      <input class="form-control pac-target-input" name="city" id="city" value="Los Angeles, CA, USA" autocomplete="off" placeholder="Suchanfrage eingeben">
    </div>
    <div class="col-md-6 col-sm-12 mx-auto pb-2">
      <label for="fullname" class="fw-semibold">Name:</label>
      <input class="form-control" type="text" name="fullname" id="fullname" placeholder="Full Name">
    </div>
  </div>
  <div class="row">
  </div>
  <div class="row">
    <div class="col-md-6 col-sm-12 mx-auto pb-2">
      <label for="email" class="fw-semibold">Email:</label>
      <input class="form-control" type="email" name="email" id="email" placeholder="Email ID" autocomplete="off">
    </div>
    <div class="col-md-6 col-sm-12 mx-auto pb-2">
      <label for="phone" class="fw-semibold">Phone:</label>
      <input class="form-control" type="text" name="phone" id="phone" placeholder="Phone number" autocomplete="off">
    </div>
  </div>
  <div class="row">
  </div>
  <div class="row">
    <div class="text-center pb-2">
      <button type="button" class="btn btn-primary" name="btn_submit" onclick="validateForm();">Submit</button>
    </div>
    <div id="result-msg"></div>
  </div>
</form>

Text Content

BANK STATEMENT LOANS FOR BUSINESS OWNERS AND SELF EMPLOYED BORROWERS.

Apply for a bank statement loan using your bank statements instead of your tax
returns.

Low 10% down payment, and no mortgage insurance required.

Use your real income to obtain your dream home.

Are you self employed?

Do you have multiple streams of income?

Do you write everything off to lower your taxes?

Do you have a cash business?

We have several program options available to meet your needs.

Get pre approved for free today!


WHAT IS A BANK STATEMENT LOAN?

A bank statement loan uses a borrowers bank statements as proof of income rather
than tax returns, W-2s or pay stubs.

Perfect for self-employed borrowers or borrowers who have income not documented
on tax returns. Lenders use the bank statements to assess the borrower’s income
and expenses to determine their ability to repay the loan.

12 month bank statement and 24 month bank statement options available.

Can use personal or business bank statements.

Loan options up to 90% LTV.

Loan amounts up to $3.5M.

Can be used for investment properties.

Get pre approved for free today!


HOW DOES A BANK STATEMENT MORTGAGE LOAN WORK?

Bank statement loans allow borrowers to utilize their bank statements instead of
traditional income verification methods, such as W-2s or tax returns. Here’s how
the process typically works:

Providing Bank Statements: When applying for a bank statement home loan, the
borrower must provide their bank statements for the previous 12-24 months. These
statements will be used to determine the borrower’s average monthly deposits and
expenses, which will be used to calculate their income.

Income Calculation: The lender will calculate the borrower’s income based on
their average monthly deposits. This is typically done by adding up the total
deposits for the specified time period and dividing by the number of months.
This average monthly deposit amount will then be used to determine the
borrower’s income for the loan application.

Expense Analysis: In addition to calculating the borrower’s income, the lender
will also review their average monthly expenses to determine their ability to
repay the loan.

Get pre approved for free today!


WHAT ARE THE BASIC BANK STATEMENT MORTGAGE LOAN REQUIREMENTS?

The specific requirements may vary depending on the lender and loan program, but
here are some basic bank statement mortgage loan requirements:

Credit Score: Bank statement loans often require a minimum credit score of 620.

Down Payment: Minimum down payment of 10%.

Income Documentation: While bank statement loans don’t require traditional
income documentation, borrowers will need to provide bank statements for the
previous 12-24 months to verify their income.

Debt-to-Income Ratio: Bank Statement Mortgage Lenders may limit the
debt-to-income ratio for bank statement loans, typically no higher than 50%.


FREQUENTLY ASKED QUESTIONS


DOES THE FREE PRE APPROVAL AFFECT MY CREDIT SCORE?

No, we do a soft pull for the pre approval that does not impact your credit
score.



HOW DO I APPLY?

Fill out form below, and an agent will contact you to get started.


WHAT DOCUMENTS DO I NEED?

12 or 24 months of bank statements and copy of ID.


DO I HAVE TO COME TO YOUR OFFICE?

No, your loan application and document upload can be done using your phone or
desktop PC.


DO YOU HAVE OTHER LOAN OPTIONS BESIDES BANK STATEMENT LOANS?

Yes, we also have Conventional loans, FHA loans, USDA loans, VA loans, Foreign
National loans, ITIN loans & Private Money loans.

YOUR LOAN


Purpose: Select an option Purchase Refinance
Use: Select an option Primary Residence Vacation Home Investment Property

Type: Select an option Single family Condo Townhouse 2-4 unit residential
Credit: Select an option 619 or less 620 - 679 620 - 679 740 +

Property Value:
$ .00
Down Payment: Select a Percentage

City:
Name:

Email:
Phone:

Submit

611 Wilshire Blvd. Suite 900, Los Angeles, CA 90017 | 310-359-8732 |
info@bankstatementm.com | NMLS : 2486109