bank statement loans

These are usually very high interest rate loans that you should stay away from.

Bank statement loan programs, although more risky, the rates associated with them are slightly higher than your conforming rates.. But the biggest difference is the Loan to Value. You wont find a bank statement program offering 5% down.. you will need at the very least 20%, but for most, to get the better rates, you need 30% or more. Understand that every lender is different,,, I have 6 to choose from, and rates do vary from the Mid to high 5's to just under 7... but I do not lend in NY.. you'll have to reach out to a local mortgage banker or broker to find the best loan product for your particular scenario. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893