Your bank statement loan journey - from income story to keys
Qualify on Your Business, Not Your Tax Returns
Follow the numbered path from defining your income story to closing on your home. Climb the ladders (smart moves that speed you up) and steer clear of the chutes (missteps that set you back and complicate your file).
Scan to find where you are
Open the interactive roadmap on your phone: tap where you are today and see your next moves, the missteps to avoid, and your free personalized income analysis. No credit pull required to start.
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Bank statement income programs are non-QM (Non-Qualified Mortgage) programs in which eligible deposits from 12 or 24 months of personal or business bank statements are used in lieu of traditional income documentation such as tax returns, W-2s, or paystubs.
These programs are designed for self-employed borrowers and must satisfy Ability-to-Repay requirements.
Applicants are generally required to have been self-employed for at least two years; a letter from a CPA, enrolled agent, or licensed tax preparer verifying self-employment is required.
Income calculation method, eligible deposits, expense factor, and required documentation vary by program and by whether personal or business statements are used.
Two program flavors exist (Signature Expanded and Signature Expanded Platinum); occupancy types, property types, and program parameters differ between them and are subject to change without notice.
Per current CrossCountry Mortgage program guidelines, subject to change. This material is educational only and is not an offer or commitment to lend.
Not a guarantee of approval. All loans subject to credit approval and underwriting; not all applicants will qualify.
Consult a tax advisor before making any decisions about income documentation strategy.
This co-marketed seminar is cost-split by fair market value of promotion per RESPA; no party pays for referrals.
NMLS Consumer Access: www.nmlsconsumeraccess.org.