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12 or 24 Month Bank Statement Loan

It can be challenging to meet the home loan requirements of standard lenders as a self-employed or 1099 worker. At Quaint Oak Mortgage, we want to provide avenues to homeownership for entrepreneurs, freelancers, contract workers, and investors. Our 12 or 24 month bank statement loan program may be the perfect solution, allowing you to qualify for a mortgage based on your bank statements instead of tax returns. 

Quaint Oak’s Bank Statement Mortgages for Self-Employed Workers

With our bank statement mortgages, you will not be required to provide traditional financial documentation for purchasing or refinancing a home. As a freelancer, self-employed contractor, or entrepreneur, your non-traditional income and potential tax deductions may impact your reported earnings. With Quaint Oak Mortgage’s 12 or 24 month bank statement loan, your bank statement would act as proof of income. 

Woman applying for a bank statement loan from Quaint Oak Mortgage on a laptop

A Bank Statement Home Loan that Works for You

Self-employed or 1099 borrowers will have the option of providing either personal or business statements for this bank statement home loan. A non-qualified mortgage (non-QM) provides you with greater flexibility and more choices.

12 or 24 month bank statement loan applicants are typically:

  • Small Business Owners
  • Entrepreneurs
  • Freelancers
  • Gig Workers
  • Independent Contractors
  • Real Estate Investors

For a primary or secondary home purchase only, we offer loan-to-value ratios up to 85% as well as 30 or 40 year fixed rates (interest only available1).

 Interested in More Information About Our Bank Statement Loans?

If your tax returns are not the best indicator of your income, Quaint Oak’s 12 or 24 month bank statement loan could work to your advantage. Contact Quaint Oak Mortgage for more information about our home loans. Our expert mortgage bankers can help you find the best option for you.

The advertised loan program is for self-employed borrowers and permits the use of bank statements (personal or business), in lieu of tax returns, to support self-employed income for qualification purposes. Loan to Value of 85% requires a minimum of a 700 median credit score and is based on a minimum loan amount of $100,000.00 and a maximum loan amount of $1,000,000.00 for a 1 unit primary residence purchase or rate and term refinance transaction. The bank statement program advertised is not available for investment properties.

1Interest-only loans provide for the payment of interest only for a set period of time, and payments of principal and interest thereafter for the remainder of the loan term. While making interest-only payments, the principal is not reduced. At the end of interest only period, your monthly payment will increase, possibly substantially and you will be required to pay down the outstanding principal plus any remaining interest. Always consider paying more than the minimum payment to pay down the principal. Interest only products maximum LTV is 80%, requires a minimum credit score of 680 for a 1 unit primary residence purchase or rate and term refinance.