looking for a fannie mae loan with 2 years bank statements to buy a house at auction

All your standard loans (Fannie, Freddie, FHA, VA, etc) do not offer any products using non-tradition income. Bank statement type income loans offerings are few and far between. If you can find one, they typically require very large down payments (20% or more), and interest rates around twice the standard loan rates. Auction houses also can become a little bit of a potential problem, as standard loans have issues with you financing auction house fees. Good luck.

Unfortunately, there is no such fannie mae loan without qualifying on either income derived from pay stubs/w-2s or via fannie mae approved calculations on net income for self employed borrowers, or a combination of both. However, we are able to calculate income from reserves to help boost overall monthly income in qualifying. I do an alternative loan with a minimum requirement of 20% down wherein we derive income from bank statements. I answered a previous question about using a fannie mae loan for buying a house at auction. It is very important to find out what is acceptable to be able to bid on such homes at auctions. Sometimes a buyer is required to come up with all the money for the purchase in a short period of time. If they allow for a certain amount of deposit and to secure a fannie mae loan by 30 days. then you would have to per the above methods of calculating income or see if they accept the alternative loan I mentioned above.