6-Month Bank Statement Loan – 680 Credit Score
This Six-Month Bank Statement Loan program caters to borrowers with a 680 credit score or higher, designed specifically for those demonstrating substantial income growth in the recent six months. This Non-QM mortgage option provides flexibility for self-employed individuals and business owners who may not qualify through traditional income verification.
Our Right Mortgage is Your Ideal Approval
This Bank Statement Loan program is ideal for borrowers that have experienced significant revenue growth in the previous six months in contrast to the previous 6-24 months.
Income Documentation Type: Lite Doc
6 Months bank statements in lieu of conventional income documentation such as tax returns, schedule P&L Statements, W2s, paystubs, leases, etc.
Alternative Invest Property/ Owner-Occupied Income Documentation:
Alternative Income Documentation:
* 12 & 24-month bank statements 6 month loan programs
* Profit & Loss (P&L) statements
* 1099 IRS Form
* Asset Conversion
Employment Documentation Type: Reduced Doc (12 Months Employment History)
* 12 Month Employment Verification | VOE
Using “Lite Doc” income documentation, the program assesses recent bank statements to evaluate income, allowing borrowers to present only six months of bank activity to qualify. This streamlined approach bypasses the need for full tax returns or extensive documentation, simplifying the approval process.
As a specialized Non-QM mortgage lender offering this bank statement loan program, we support borrowers with unique financial profiles, giving them a viable path to homeownership or refinancing based on real, recent income trends.
Employment Type: Self-Employed (>25% Ownership Required)
Verification of Employment (VOE):
* Business organizational paperwork
* Business License or Equivalent
* Sellers License
Investment Property/Owner-Occupied:
* Purchase: $3,000,000 – 10% Down Payment – 680 Credit Score
* Purchase: $2,500,000 – 25% Down Payment – 660 Credit Score
* Refinance Rate/Term: $2,500,000 – 75% LTV – 660 Credit Score
* Refinance Cash Out: $2,000,000 – 75% LTV – 640 Credit Score
* Refinance Cash Out: $1,500,000 – 75% LTV
* Purchase: $1,000,000 – 30% Down Payment
* Refinance Rate/Term: $1,000,000 – 70% LTV
* Second Homes – OK
* Refinance Cash Out: $5,000,000
* Debt-Service Coverage Ratio DSCR Loan Programs also available for Non-Owner Occupied only
| Occupancy Options: | Eligible Property Types: |
|---|---|
| * Primary/Residences * Primary/ Investment * Second Homes * Investment Properties * Cash-Out Refinance: to $2,500,000 | * Single-Family Homes * Townhomes * Condominiums * Non-Warrantable Condos * Multi-Unit Properties (Restrictions Apply) * Mixed-Use Properties (primarily residential) |
Available in the Following States:
Alabama, Arizona, California, Colorado, Florida, Georgia, Hawaii, Illinois, Maryland, Massachusetts, Mississippi, Nevada, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania, Tennessee, Texas, Virginia, and Washington.