Bank Statement Mortgage

Redefining Homeownership With Bank Statement Mortgages

Empowering the Self-Employed through Tailored Mortgage Solutions

620

Minimum Credit Score

50%

Maximum Debt To Income

90%

Maximum Loan To Value

$15M

Maximum Loan Amount

With 1 Application,130 Mortgage Lenders Will Compete For Your Business

Unlock unparalleled opportunities with a single application. Dive into a competitive marketplace where 130 top-tier mortgage lenders vie to offer you the best terms, ensuring you get the deal you deserve. It’s not just about choice; it’s about empowering you with the best options available.

🔒Does not Affect Credit. No SSN until you’re ready.

At Innovative Mortgage, we specialize in providing a comprehensive suite of mortgage solutions, including our Bank Statement Mortgage program. This program is designed to accommodate self-employed individuals and entrepreneurs who may not have the traditional forms of income documentation required by conventional loan programs.

Understanding Bank Statement Mortgages:

Key Features:

Income Verification: Instead of W-2s or tax returns, borrowers can leverage their personal or business bank statements to demonstrate their income. Typically, 12 to 24 months of statements are required to establish a consistent cash flow.
Credit Flexibility: Our program offers flexibility for those with near-miss credit situations, helping borrowers who may be slightly outside the conventional lending criteria due to credit issues.
Loan Amounts: With loan amounts ranging up to $3,500,000, our Bank Statement Mortgage program caters to a wide range of financing needs.
Loan-to-Value (LTV) Ratios: We offer maximum LTV ratios of up to 90% for primary residences, ensuring that you can leverage the highest possible funding based on your property value.

Program Requirements:

Business Ownership: Borrowers must have been self-employed and owned their business for at least two years.
Documentation: The program requires a Self-Employed Business Narrative Form and verification that the business has been in existence for two years.
Reserves: Depending on the loan amount, borrowers may need to show reserves ranging from 3 to 12 months of the subject property’s PITI (Principal, Interest, Taxes, and Insurance).

Additional Options:

Easy Doc Financing: For those seeking a faster closing process, our Easy Doc Financing offers a streamlined alternative.
Bridge Loans and Hard Money: To accommodate acquisitions requiring quick closings or properties that need stabilization, our Bridge and Hard Money loans provide interim financing solutions.

Why Choose Innovative Mortgage’s Bank Statement Loans:

Our program is designed with self-employed individuals in mind, recognizing the challenges they face in procuring traditional mortgages. We provide the necessary flexibility to account for the unique cash flow and credit circumstances common among entrepreneurs.

Start Your Application Today:

If you’re self-employed and looking for a mortgage solution that aligns with your financial reality, consider the Bank Statement Mortgage program offered by Innovative Mortgage. Our team is ready to assist you in navigating the application process and securing the financing you need.

Contact Innovative Mortgage to learn more about our Bank Statement Mortgage program and take the first step toward realizing your homeownership or investment property goals.

Pros of Bank Statement Mortgages

No Tax Returns Needed

For a variety of reasons this is a big relief for some of our clients, especially the self employed.

Easier Underwriting

Underwriting criteria are a lot more forgiving for Bank Statement Loans.

No PMI!

The higher interest is easier to swallow when you learn that there is no PMI regardless of LTV.

Cons of Bank Statement Mortgages

Higher Cost Loan

Even after factoring PMI savings the payment will likely be higher than a comparable Conventional Loan.

Higher % Down

A bank statement mortgage requires a minimun of 10% down with a credit score over 700. % down increases as credit score drops.

Key Issues That Will Get Early Attention

Try Conventional

With the way we're set up it's easy to check Traditional and Specialty programs simultaneously. If we can save you money we will.

Identify Income

What we count is valid deposits. It's best to send it in to the underwritter and have them confirm so 100% confident in the information and you can move forward confidently.

Analyze Credit

Aside from the typical qualification, we're looking for errors, innacuracies and rapid re-score opportunities to optimize your credit score so we can find the best terms.

Discuss Mortgage Strategy

If you qualify for a conventional loan it means you paid a lot more in taxes. We'll discuss what you would have to do to qualify for conventional financing so can prepare for a future refinance if it makes sense to do so.

We're Simply Better and Not Just on Price...

We Have More Lenders and More Loan Programs

Diverse Choices, Tailored for You: With a vast array of lenders and loan programs, we ensure a perfect fit for your unique financial needs.

Our Loyalty is To YOU not the lender

Your Interests, Our Priority: Our commitment is to you, not the lenders, ensuring unbiased and dedicated support throughout your mortgage journey.

Non QM, Convert to Cash and Flexible Funding Options Available

Flexible, Innovative Financing: Explore Non-QM loans, easy cash conversion options, and flexible funding solutions tailored for your financial freedom.

🔒No Credit Pull, No Obligation.

Compare For Yourself

Explore the difference that sets us apart in the financial world. See how our innovative services and unmatched benefits distinguish us from the competition, ensuring you make an informed choice.

Lightning Loans

Local Bank Branch

Big Name Online Lenders

Shops Hundreds of Lenders

Scans Thousands of Programs To Find You The Best Available

Is Loyal to Borrowers and Not Lenders

Has Multiple No Tax Return Mortgage Options

Can Show You Conventional and Non QM Options

Multiple 100% Financing Options for First Time Home Buyers

Can Do Hard Money, Bridge Financing and Other Unique Funding Types

🔒No Credit Pull, No Obligation.

You need a tenacious loan officer who has obsessively over-prepared and knows every single trick in the book to secure the ideal mortgage for your unique situation

And that is exactly what you'll find when working with me…

Read What Our Happy Clients Have to Say

Don't Wait, Secure Your Perfect Mortgage Today

"Andres is dependable, reliable and productive to the highest degree. His services will be required by our company in the future, and unequivocally we will be contracting him."

"A true example of a multitasking 24/7 powerhouse with no deal is too small attitude coupled with creative thinking and always open mind!!!"

"Lightning Loans made the mortgage process so easy and stress-free. Their team is knowledgeable and dedicated to providing tailored solutions for each client. I highly recommend them." -

1. Unparalleled Access to Mortgage Options With a Single Application

With a single application, we’ll comparison shop thousands of loan programs across hundreds of lenders.

This includes conventional loans at 130 different sources, FHA loans at 130 different sources, and even bank statement or no tax return options. If a mortgage product exists, we have access to it.

No more wondering if you’re getting the best deal – we’ll make sure of it.

2. Expert Guidance and Outstanding Communication

With over two decades of experience working with clients, I’ve developed a keen sense of what my clients need and when they need it.

It’s almost like having a psychic connection!

I pride myself on putting my clients first and providing outstanding communication throughout the entire mortgage process.

3. A Faster, Easier Path to Perfect Mortgage Loans For Your Specific Situation

Say goodbye to the headaches and hassles of traditional mortgage processes.

With Lightning Loans, you’ll enjoy a streamlined, efficient journey that gets you to your goals faster and with less stress.

You’ve got enough to worry about, let us put your mind at ease with regard to your mortgage financing.

We only request the things that are absolutely necessary

4. The Peace of Mind Knowing You've Made the Right Choice Because You've Seen ALL Your Options

When you work with Lightning Loans, you’re not just getting a mortgage –

You’re getting a partner who is committed to your success.

We’ll go above and beyond to ensure that you’ve made the best possible choice for your unique situation.

These might just seem like words on a page but one conversation with us and it will be abudantly clear to we walk our talk.

Experts at your service.

Meet the experts committed to providing you with exceptional financial solutions

Andres Garcia

Loan Officer

Dedicated, high energy real estate expert that is adept at working with investors and traditional borrowers.

Your Contact

Andrew Kashella

Senior Vice President

Mortgage Industry veteran responsible for thousands of loan originations and billions in closings.

Bryan P. Ehrlich

CEO/General Counsel

Founder, Juris Doctor and Lead Counsel for Innovative Mortgage Services.