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Are there any lenders basing the income of the lender on recent bank statements rather than past tax reports?

Both my credit and my LTV ratio seems to be very good.I am self employed, want to refinance $105,000 and have increased my income recently.Thank you,Chris by chrismacor from Boulder, Colorado. Mar 12th 2013 Reply


Yes. I have a product called 'asset based' that will use your current assets as income. Jacob 720.210.7898 or apply online through my secure online loan application,https://secure.web-loans.com/secure.aspx?u=mac5mortgage.vlending.com&lo=57

Mar 12th 2013
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Ken Burrows (mortgagesforamerica)
#19 ranked lender in Nevada - 572 contributions

No unfortunately every lender in the nation looks at only tax returns for self employed. There is private lenders out there but their rates are usually above 10% and need 35% down or more.

Mar 12th 2013
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Barclay Butler (Barclay)
#83 ranked lender in Illinois - 76 contributions

I do work with a Jumbo investor that will do that but you need to finance at least 1 million.

Mar 12th 2013
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

Not for what you are looking for.

Mar 12th 2013
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,669 contributions

Sorry, no. That was a sub-prime loan product of the past that went away with the collapse of the real estate market.

Mar 12th 2013
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Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions

No. The new rules on Qualified Mortgages require the ORIGINATING lender to "evaluate the borrowers ability to repay the loan" the requirements for this are standard income documents.

Mar 12th 2013
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Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

Not on the conventional side. You might find a Portfolio lender that will.

Mar 12th 2013
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Charlie Sparks (CharlieSparks)
#8 ranked lender in New Mexico - 401 contributions

I don't know of any lender with a bank statement program but if you have assets, (mutual funds, stocks, savings, IRA, 401k, etc.) there are mortgage programs that will treat that as income. You don't need to move the funds but in some cases they are secured. The product I have that allows this has a minimum loan amount of $300,000 however. As you shop around ask about asset based loans. Good luck to you!

Mar 12th 2013
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Sean Young (SeanYoung)
#1 ranked lender in Colorado - 1,112 contributions

Unfortunately no, but if you have enough stocks or bonds you may be able to do a collateralized loan. If not, you may need to contact a hard money or private lender, but the terms usually require a hefty down payment and high interest rate.

Mar 12th 2013
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