How Do Bank Statement Mortgages Work?

With a bank statement mortgage, you use your checking account bank statements to establish your proof of income, thereby cutting through much of the legal and financial red tape that can be so restricting when you’re buying or refinancing a house.

All you have to do is be able to provide proof that you’ve been self-employed for a minimum of 24 months. We’ll also take a look at the average of your net deposits (12 or 24 months) to establish your eligible monthly income, then as long as you meet our basic requirements you'll be on your way to qualifying for that mortgage and fullfilling your homeownership goals. 

As a self-employed individual, we understand that your financial history and tax records are much different than that of a traditional W2 employee.  This is why we believe that you deserve to also have a leveraging difference for purchasing or refinancing a home, without the bank hassles.

Bank statement mortgages offer a welcome alternative home loans in Arizona and Colorado.

Bank Statement Mortgage Requirements

If you’re self-employed, taking out bank statement mortgages in Arizona or Colorado will present far fewer roadblocks than taking out a traditional home loan. To qualify, you must:

  • Show self-employment history dating back at least 24 months

  • Provide 12 or 24 consecutive months’ worth of bank statements from the same account

  • Possess a minimum FICO score of 600

  • Taxes and insurance are escrowed

We can also process and approve mortgage applications based on your business’ regular profit and loss statements.

Apply Now to Get the Ball Rolling

Stop being turned down for home loans based on your employment status. Contact Castle Rock Mortgage and start taking advantage of the opportunities you’ve created for yourself.

Other brokers might force you to jump through hoops to get your loan, but not us. We’re your first and best option for bank statement loans in Arizona.

At Castle Rock Mortgage, we offer generous bank statement mortgage programs over 3-month, 12-month, and 24-month periods. We’re also expertly qualified to handle mortgage refinance in Arizona and Colorado. Think of us as one-stop shopping for all your home-buying needs.

Give us a call today and take control of your future.