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Designed for Entrepreneurs and Self-Starters
Bank Statement Program
At Premier Point Mortgage, we understand that traditional loan programs don’t always work for self-employed individuals, independent contractors, and real estate investors. That’s why our Bank Statement Loan Program was designed to help you qualify based on your bank statement income rather than tax returns or pay stubs. This program provides flexibility and accessibility for borrowers whose income may not fit into conventional documentation requirements.
Key Points:
No Mortgage Insurance
Flexible income verification
Loan Limits Up To $4,000,000
Tired of explaining your income to lenders?
If you’ve ever sat across from a traditional lender, trying to walk them through your tax returns while their eyes glaze over, this program changes everything. Forget stacks of tax returns and W-2s we qualify you using your bank statements. It’s income made simple.
- As little as 3% down, making it easier to get started.
- Lower Mortgage Insurance Costs.
- Flexible Credit Guidelines.
- Rate and term refinancing for eligible homeowners.
Program Overview
Our Bank Statement Program allows you to use 12 or 24 months of personal or business bank statements to document income. Personal account deposits are considered at 100%, and business account deposits are considered up to 85%. This gives you the ability to demonstrate your earning power accurately, even if your tax returns show minimal or irregular income.
- Flexible documentation: Use 12 or 24 months of bank statements
- 100% of personal account deposits; up to 85% of business deposits
- Generous loan amounts: Financing available up to 4 million dollars
- Minimum credit score: 600
Income Made Simple
No Tax Returns
We know your CPA works hard to lower your taxable income. Traditional lenders see that as a problem we see it as smart business. You won’t have to produce years of tax filings or explain every deduction. We simply focus on what matters most: your actual deposits.
Real Income Counts
Your deposits tell the real story of your success. We review 12 to 24 months of bank statements personal or business to calculate what you truly make, not what’s on paper after write-offs. It’s a fair, transparent way to qualify without getting penalized for being tax-efficient.
Fast, Hassle-Free
Forget the mountain of paperwork. All we need are your bank statements, ID, and a few essentials to get started. That’s it. No endless back-and-forth. No waiting weeks for a decision. We can get you moving toward approval while others are still asking for your third-year tax schedules.
FAQ
Q: What type of bank statements do I need?
A: You can provide 12 or 24 months of personal or business bank statements. Personal deposits are counted at 100%, and business deposits at up to 85%.
Q: Can this program be used for investment properties?
A: Yes, this program is available for primary residences, second homes, and investment properties, including multi-unit properties.
Q: What are the maximum loan amounts and LTV limits?
A: Loan amounts are available up to 4 million dollars. LTV limits are up to 90% for purchases, 85% for rate-and-term refinances, and 80% for cash-out refinances.
Q: Is there a minimum credit score requirement?
A: Yes, a minimum FICO score of 600 is required.
Q: Can I use assets to help qualify?
A: Yes, assets such as investment accounts can be included to increase qualifying income.
Q: Are transfers from business accounts allowed?
A: Yes, transferring funds from business accounts to personal accounts is allowed for income verification purposes.
Let’s See What You Qualify For
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Premier Point Mortgage
NMLS #2184348
Premier Point Mortgage guides you every step of the way, making your journey to homeownership stress free; now that’s Home Financing Simplified!
990 Raritan Rd. Clark, NJ 07066
Legal Statements
Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.
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