Bank Statement Loan Taxes

We are going to talk about bank statement loan taxes and for those of you who know bank statement loans are the mortgage program today for self-employed borrowers who write off too much and can’t qualify using their tax returns, the lender looks at your last 12-24 months bank statements.

And Take a percentage of the average monthly deposit to determine how much you qualify for we’ll the good news is this program is definitely available in Taxes with as little as 10% down as I write this post today and it subject to changes.

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The one slight difficulty though is being able to find one for a cash-out refinance, there are some taxes laws on the books that make it difficult to do cash-out refinances in Taxes. However, if you do need a cash-out refined for a bank statement loan taxes we do have a couple of options for you.

We are going to be talking about the interest rates now not quoting rates to you here because they change often but the bank statements loan will have rates that are just a little bit higher and conventional.

So if you have never gotten a bank statement loan before you need to understand that also the lender fee is a little bit higher too