Owner-Occupied Bank Statement Mortgage: A Solution for Alternative Income Clients
At Alpine Funding Corp, we focus on helping borrowers find real-world lending solutions. We are a direct lender serving New Jersey communities and clients across the U.S. Our unique lending solutions allow clients who are self-employed or have alternative income sources get approved for residential property loans. An owner-occupied bank statement loan is one such type of residential property loan. Our owner-occupied bank statement mortgage program is a great option for clients whose employment history and tax returns may not adequately represent their worthiness for residential loans. Our lending professionals are here to help you explore your residential loan options and provide fast approval. Contact Alpine Funding Corp today to schedule a consultation and ask any questions you may have.
What is a Bank Statement Loan for Residential Property?
As its name implies, an owner-occupied bank statement loan is approved and dispersed based on evidence of solvency from bank statements, usually within the past year or two. Solvency is essentially your long-term ability to meet the financial obligation of a residential property loan. Our team will evaluate your bank statements and, in some cases, profit and loss statements from your business to determine your ability to maintain your mortgage payments. In addition, we will evaluate your credit score. Bank statement loans typically are only available to clients with a score of 680 or higher because these loans carry higher risk. Keep in mind that you may need to put down at least 20% for your residential loan.
Fast Approval for the Home of Your Dreams
In many cases, we can provide approval to our mortgage clients within 24 hours. As a direct lender, we can negotiate deals that big banks often cannot match. If you can provide your bank statements and profit and loss statements for your business, we will get the process going quickly. Our mortgage professionals will help guide you through your loan terms to understand what you will pay throughout your contract and how it compares to other financing choices.
Solutions for the Way You Live
Alpine Funding Corp can approve owner-occupied bank statement mortgage loans and other unique financing options because of our innovative underwriting and smart lending tactics. If you are self-employed or for other reason would prefer not to provide tax statements and employment history, this type of loan may be right for you. Contact us for home financing in New Jersey and across the U.S. today.