What is a Bank Statement Loan

Benefits of Bank Statement Loans

No Traditional Income Documentation Required: Bank Statement Loans are perfect for self-employed borrowers who may not have W-2s or pay stubs. We assess your ability to repay the loan based on your bank statement deposits.

Flexible Qualification Requirements: We offer flexible credit score requirements and loan terms, making it easier for you to qualify for a mortgage.

Potential for Larger Loan Amounts:

Because we consider your actual cash flow, you may qualify for a larger loan amount compared to traditional mortgage programs

Ideal for Business Owners and Freelancers:

This loan program is tailored to meet the needs of those with non-traditional income sources, providing a practical solution for purchasing or refinancing a home.

WHY CHOOSE US

What We Offer To You

Welcome to Las Vegas Mortgage, where we specialize in offering flexible financing solutions through our Bank Statement Loan program. As a dedicated Bank Statement Loan specialist, I am committed to helping self-employed individuals, freelancers, and business owners secure the home financing they need, even if they don't have traditional proof of income.

Expertise in Bank Statements

With extensive experience in this unique loan program, I understand the challenges faced by self-employed borrowers. Our Bank Statement Loans use your bank deposits as proof of income, allowing us to tailor a mortgage solution that fits your specific financial situation.

Personalized Service

I take the time to understand your specific needs and financial situation, providing customized loan solutions that work best for you. Whether you're buying your first home or looking to relocate, I am here to assist you every step of the way.

Seamless Process

From pre-qualification to closing, I handle all the details, making your home buying journey smooth and stress-free. My goal is to ensure you have a positive experience and get the keys to your new home without unnecessary delays.

Commitment to Clients

Your satisfaction is my top priority. I am dedicated to providing transparent, honest, and responsive service throughout the entire loan process.

Local Expertise

As a locally-based mortgage company, we have a deep understanding of the Las Vegas real estate market. Our insights and connections enable us to offer you valuable advice and assistance, whether you're buying a home in the city or the surrounding areas

Comprehensive Loan Options

We offer a wide range of mortgage products, including FHA, VA, conventional, and jumbo loans. This diverse selection allows us to tailor our offerings to meet your specific financial needs and goals, ensuring you get the most suitable loan product for your situation.

Mortgage Pre-Approval

Secure your financing before you start shopping. Our pre-approval process is quick and easy, giving you a clear understanding of your budget and making you a more attractive buyer. Start your journey with confidence!

House Shopping

Explore a wide range of properties that fit your needs and lifestyle. Whether you're looking for your first home, a vacation retreat, or an investment property, our team is here to guide you through the search and help you find the ideal match.

Loan Application

Complete your mortgage application with our streamlined and user-friendly process. Our experienced loan officers will assist you every step of the way, ensuring all your questions are answered and your application is processed smoothly. Let us help you make your homeownership dreams a reality!

WHAT’S THE BEST

Mortgage Programs

At Las Vegas Mortgage, we offer a variety of mortgage programs tailored to meet your unique financial situation and goals. Whether you're a first-time homebuyer, a seasoned investor, or somewhere in between, we have the perfect loan solution for you.

Specific Programs

FHA Loans: Ideal for those with lower credit scores or limited down payment funds.
Conventional Loans: Flexible options with competitive rates for a range of borrowers.
USDA Loans: Great for rural property buyers, offering zero down payment.
VA Loans: Exclusive benefits for veterans and active-duty military members.
DSCR Loans: Perfect for real estate investors focusing on cash flow properties.
Bank Statement Loans: Designed for self-employed borrowers who need to show income differently.
ITIN Loans: Accessible options for those without a Social Security number.
Foreign National Loans: Financing solutions for non-U.S. citizens.
Fix and Flip Loans: Short-term financing for property renovation and resale.
Cannabis Industry Loans: Tailored loan options for professionals in the cannabis sector.
1099 Loans: Options for independent contractors and freelancers with 1099 income.
Private Money Loans: Quick and flexible funding for unique situations or investments.

OUR TEAM

Our Staff Profiles

KeVIN SCHANDA

SENIOR MORTGAGE ADVISOR

NMLS #93971

JONATHAN FESSER

MORTGAGE ADIVSOR

NMLS #2225687

BONNIE CLOCKEL

MORTGAGE ADVISOR

NMLS #1906508

Frequently Asked Questions

What is a Bank Statement Home Loan?

A Bank Statement Home Loan is a type of mortgage designed for self-employed borrowers, freelancers, business owners, or others with non-traditional income. Instead of using tax returns or W-2s to verify income, these loans allow borrowers to qualify based on the income shown in their bank statements, typically over the past 12 to 24 months.

Who is Eligible for a Bank Statement Loan?

Eligibility for a Bank Statement Loan is generally open to self-employed individuals, business owners, freelancers, independent contractors, and others who may not have regular W-2 income. Lenders will typically look at the borrower’s bank statements to assess income, and borrowers usually need to have been self-employed or in their line of work for at least two years.

How Does a Bank Statement Loan Determine Income?

Income for a Bank Statement Loan is determined by reviewing the deposits shown in the borrower’s bank statements over a specified period, usually 12 to 24 months. Lenders may use an average of the deposits, or a percentage of the deposits, to calculate qualifying income. Personal and business bank statements can both be used, depending on the lender’s requirements.

What Are the Benefits of a Bank Statement Loan?

The main benefits of a Bank Statement Loan include the ability to qualify without traditional income documentation, such as W-2s or tax returns, making it ideal for self-employed borrowers. These loans also offer flexible qualification criteria and can accommodate complex financial situations. Additionally, they can provide opportunities for borrowers to qualify for larger loan amounts based on actual cash flow.