{"id":10225,"date":"2024-01-05T15:19:19","date_gmt":"2024-01-05T22:19:19","guid":{"rendered":"https:\/\/channelmtg.wpenginepowered.com\/?page_id=10225"},"modified":"2024-03-03T19:23:40","modified_gmt":"2024-03-04T00:23:40","slug":"bankstatementfinancing","status":"publish","type":"page","link":"https:\/\/channelmtg.com\/bankstatementfinancing\/","title":{"rendered":"Bank Statement Only Financing"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"10225\" class=\"elementor elementor-10225\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1865693 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1865693\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-a2008be\" data-id=\"a2008be\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e8bcc2f elementor-widget elementor-widget-heading\" data-id=\"e8bcc2f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 25-04-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Bank Statement Only Financing<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a4187de elementor-widget elementor-widget-text-editor\" data-id=\"a4187de\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 25-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><strong>Self-employed borrowers, as well as those who earn seasonal income, may be eligible to qualify for a bank statement loan program. Bank statement loans allow you to use your bank statements to verify income instead of tax returns. \u00a0These programs are utilized by a wide range of self-employed professionals, including small business owners, freelancers, independent contractors, and many other types of self-employed people.<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-6b37b69\" data-id=\"6b37b69\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-da0db9e elementor-widget elementor-widget-image\" data-id=\"da0db9e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 25-04-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1290\" height=\"636\" src=\"https:\/\/channelmtg.com\/wp-content\/uploads\/2024\/01\/Channel_Mortgage-Bank_Statement_Only_Financing.png\" class=\"attachment-full size-full wp-image-10258\" alt=\"Channel_Mortgage-Bank_Statement_Only_Financing\" srcset=\"https:\/\/channelmtg.com\/wp-content\/uploads\/2024\/01\/Channel_Mortgage-Bank_Statement_Only_Financing.png 1290w, https:\/\/channelmtg.com\/wp-content\/uploads\/2024\/01\/Channel_Mortgage-Bank_Statement_Only_Financing-300x148.png 300w, https:\/\/channelmtg.com\/wp-content\/uploads\/2024\/01\/Channel_Mortgage-Bank_Statement_Only_Financing-1024x505.png 1024w, https:\/\/channelmtg.com\/wp-content\/uploads\/2024\/01\/Channel_Mortgage-Bank_Statement_Only_Financing-768x379.png 768w\" sizes=\"(max-width: 1290px) 100vw, 1290px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c02357d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c02357d\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1ae1c0e\" data-id=\"1ae1c0e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-365d784 elementor-widget elementor-widget-text-editor\" data-id=\"365d784\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>How do bank statement loans work?<\/strong><\/p><p>With bank statement loans, the lender uses bank statements to analyze a borrower&#8217;s income instead of using standard documentation. Lenders that offer bank statement loan programs will look at a borrower&#8217;s bank over a 12 to 24 month time period to determine the borrower&#8217;s net income, which is the amount of money earned after the borrower has paid taxes and business-related expenses<\/p><p>\u00a0<\/p><p><strong>How can you qualify?<\/strong><\/p><p>The qualifications for a bank statement loan may vary by lender. But in general, a borrower is required to have at least two years of self-employed income and business experience. Once a lender has determined income, they will decide the maximum loan amount allowed. This is based on the borrower\u2019s debt-to-income ratio, a percentage of the monthly income that goes towards paying any debt they may have, including a mortgage.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7258e9e elementor-widget elementor-widget-text-editor\" data-id=\"7258e9e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t&nbsp;\n<h2>Have A Question? Chat With a Loan Officer<\/h2>\n&nbsp;\n\n<a href=\"\/chatwithaloanofficer\/\"><img decoding=\"async\" src=\"https:\/\/proistatic.com\/Mortgage\/channelmtg\/Content\/UploadedFiles\/Schedule%20a%20Call1.jpg\" data-fr-image-pasted=\"true\" \/><\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Bank Statement Only Financing Self-employed borrowers, as well as those who earn seasonal income, may be eligible to qualify for a bank statement loan program. Bank statement loans allow you to use your bank statements to verify income instead of tax returns. \u00a0These programs are utilized by a wide range of self-employed professionals, including small [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bank Statement Only Financing - Channel Mortgage, LLC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channelmtg.com\/bankstatementfinancing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank Statement Only Financing - Channel Mortgage, LLC\" \/>\n<meta property=\"og:description\" content=\"Bank Statement Only Financing Self-employed borrowers, as well as those who earn seasonal income, may be eligible to qualify for a bank statement loan program. 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