Bank Statement Loans

At MOD Mortgage, we understand the unique financial landscapes of self-employed individuals and business owners. That's why we offer Bank Statement Loans—a flexible mortgage option that allows you to use your bank statements as proof of income. This innovative approach helps bridge the gap for those who might not qualify for traditional loans due to the nature of their income documentation.

What Are Bank Statement Loans?

Bank Statement Loans are designed for borrowers who have a reliable income but face challenges in providing the standard forms of income verification required by traditional lenders. By using 12 to 24 months of bank statements, these loans offer an alternative path to homeownership, tailored to the needs of entrepreneurs, freelancers, and small business owners.

Features and Benefits

  • Simplified Income Verification: Utilize your personal or business bank statements to demonstrate your income without the need for W-2s or tax returns.

  • Tailored for the Self-Employed: Specifically crafted for those with non-traditional income streams, offering a more accurate representation of your financial health.

  • Competitive Loan Terms: Access to attractive interest rates and terms that are competitive with conventional mortgage options.

  • High Loan Amounts Available: Eligibility for higher loan amounts, providing the financial flexibility needed for your home purchase.

Eligibility and Requirements

To be eligible for a Bank Statement Loan, you typically need:

  • Business Documentation: Evidence of self-employment or business ownership.

  • Bank Statements: 12 to 24 months of personal or business bank statements.

  • Credit Score: A credit history that meets our lending criteria.

  • Property Type: The loan must be for a property intended as your primary residence or investment.

How to Apply

  1. Gather Your Documents: Start by compiling your bank statements and other financial documents.

  2. Consultation: Reach out to us for a personal consultation to discuss your situation and how we can assist.

  3. Complete the Application: Apply through our online form or with the help of our team to submit your bank statement loan application.

  4. Closing: Once approved, we'll work with you towards the closing process, guiding you at every step to ensure a smooth transition to homeownership.

Why Choose MOD Mortgage for Your Bank Statement Loan?

MOD Mortgage specializes in providing innovative lending solutions that meet the diverse needs of today’s borrowers. Our dedicated team is experienced in navigating the unique challenges faced by self-employed clients, ensuring a tailored approach that maximizes your chances of approval.

Ready to Start?

If you're a self-employed individual or business owner looking for a mortgage solution that fits your unique income situation, our Bank Statement Loans might be the perfect fit. Contact us today to explore how we can help you achieve your dream of homeownership.