Types of Bank Statement Program Loans
Business Bank Statement Program
Designed for self-employed borrowers, this program uses business bank statements to verify income and determine loan eligibility.
Profit and Loss (P&L) Statement Program
This program allows borrowers to use their profit and loss statements to demonstrate income, making it suitable for freelancers and contractors.
Personal Bank Statement Program
Ideal for borrowers with personal income streams, this program uses personal bank statements to assess income and qualify for a mortgage.
SECURE YOUR HOMEOWNERSHIP
Why Rely on Sistar Mortgage?
When it comes to bank statement loan programs, Sistar Mortgage stands out as one of the leading bank statement mortgage lenders. Our streamlined application process caters to borrowers with non-traditional income documentation, offering bank statements only for mortgage loans. We understand that every borrower's situation is unique, which is why we work with a caliber of lenders who consider individual circumstances. Whether you're self-employed or have unconventional employment, we prioritize finding the right bank statement loan solution for you. Trust Sistar Mortgage for reliable guidance, exceptional service, and a commitment to helping you achieve your homeownership goals.
Who Can Benefit From Bank Statement Loans?
Many individuals seeking a conventional loan can benefit from its flexible down payment options, competitive interest rates, and customizable loan terms. Whether you're a first-time homebuyer or looking to refinance, conventional loans provide a reliable and accessible financing solution
Self-Employed Individuals
For self-employed borrowers who have non-traditional income sources, bank statement loans are a flexible financing option.
Freelancers and Contractors
Bank statement loans cater to freelancers and contractors who may have varying income streams and irregular pay schedules.
Small Business Owners
Small business owners can benefit from bank statement loans, leveraging their business revenue to qualify for financing.
Commission-Based Professionals
Bank statement programs allow commission-based professionals to use their bank statements to verify income and secure a mortgage.
Fueling Your Home Buying Journey
Set Up Your Loan Process In A Few Minutes
Provide Information
To provide optimal options, we first learn a little about you and your home-buying objectives.
Credit Review Process
You need genuine numbers if you want sellers to trust you. Receiving permission depends on your credit score.
Determine Financial Capabilities
Provide information about your income, regular expenses, and housing savings. Our mortgage lenders for refinancing will figure out your house's maximum price.
Create a Proposal
You may quickly alter your permission letter so sellers won't be aware if you submit an offer lower than what you've been authorized for.
No Tax Returns Required
Bank statement program loans offer the advantage of not needing to provide tax returns or transcripts.
Income Consistency
With regular monthly income deposits reflected in bank statements, lenders can assess your income stability.
Flexible Document Period
Bank statement lenders can review 12 or 24-month bank statements, accommodating varying financial situations.
Business Owner Friendly
Business owners can provide 12-24 months of P&L statements, eliminating the need for extensive tax documentation.
Other Available Loan Options
Discover additional loan options offered by Sistar Mortgage. Explore our array of loan options, including FHA, VA, Jumbo, and more. You will be guided to the ideal fit by our team of experts.
What Our Clients Have To
Say About Us!
“I felt Sistar Mortgage was an excellent fit for me. When they went through the procedure and gave me the specifics, the staff was kind and patient with me. The loan officer was kind, considerate, and thorough in his contacts.”
Ethan H
Great Experience
“They have excellent loan officers who educated me about loans. They’re extremely helpful in obtaining the best financing for us and getting us approved and ready to buy. Many thanks to Sistar Mortgage and Team!”
Benjamin Cooper
Team of Professionals
“We thoroughly recommend Sistar Mortgage’s loan officer and loan processor. Begin the mortgage lenders for refinancing. They made the loan application procedure simple. The process was as easy-going as we could have hoped. I appreciate everything.
Olivia Miller
Highly Recommended
Frequently Asked Questions
Yes. Bank statement refinances are available for rate-and-term refinances (to lower your rate or payment) and cash-out refinances. Self-employed borrowers who originally used a bank statement loan can refinance using the same documentation method. This is especially useful when business income has grown, and you want to access equity.
Yes. If your income is now documentable through tax returns and W-2s, or if you've established a stronger income history, you may be able to refinance from a bank statement loan into a conventional loan for a lower rate. This is a common strategy for borrowers who initially needed the flexibility of a non-QM loan.
Most bank statement refinance programs require at least 20% equity (80% LTV) for rate-and-term refinances. Cash-out refinances typically max out at 70–75% LTV. Some lenders may go higher for exceptional borrowers with strong credit and reserves.
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