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Bank statement second mortgages allow qualified self-employed homeowners to access property equity without replacing an existing first mortgage.
Qualifying income may be calculated from eligible personal or business bank deposits rather than conventional tax-return documentation. This may be useful when the existing first mortgage has favorable terms or when funds are needed for improvements, business purposes, debt consolidation, education, or another permitted use.
Available loan amounts and combined loan-to-value limits depend on credit, property equity, qualifying income, occupancy, lien position, and lender underwriting standard.
Borrowers can review a closed-end bank statement second mortgage, portfolio alternative-documentation second mortgage options, and bank statement second mortgage programs.
Closed-End Bank Statement Second Mortgage This program is a closed-end, fixed-rate second mortgage option designed for self-employed individuals and real estate investors, who may not
Access up to $750,000 with a Stand-Alone Second Mortgage—no need to refinance. Requires 680+ credit score, supports primary and second homes.
Six Alternative Income Verification Options This 3 month, 6 month, 12 month, or 24 month bank statement Non-QM loan program uses bank statements in lieu