Bank Statement Loans in Roseville and Sacramento
When you apply for a loan through a big bank, you will usually hear the words, “Show us your W-2.”
If you were a traditional employee, you would be able to provide the document. But if you earn income in a non-traditional way, you may not have a W-2 to provide.
The traditional loan application makes it hard for business owners, self-employed persons, and others to successfully apply for a mortgage, which is why Steelman Mortgages offers an alternative.
Through our bank statement loan program, you can apply for a loan by furnishing bank statements instead of a W-2.
What is a Bank Statement Loan?
A bank statement loan is one you apply through with bank statements instead of a W-2.
In the traditional lending process, lenders verify your income using your W-2.
But when you apply for a bank statement loan, your income is verified using your bank statements to determine your loan eligibility.
Nowadays, a “stated income loan” is the same thing as a bank statement loan.
Who Should Apply for a Bank Statement Loan in
Any individual who does not have a W-2 should consider applying for a bank statement loan. For example:
- Business owners
- Self-employed persons
If you think a bank statement loan might be right for you but are not sure, we can let you know during your consultation.
CA Bank Statement Loan Benefits
Applying for a mortgage through a big bank can be frustrating because of the cookie cutter approach big box lenders take.
With Steelman Mortgages, you will have a different experience. Cindy Steelman takes a personalized approach to the application process, and will tailor it to your unique income situation.
Bank statement loans offer the following advantages:
- You can apply for a loan successfully even without a W-2.
- The simplified nature of the bank statement loan process makes it fast and easy.
- There is less paperwork to deal with.
- You can close quickly with a bank statement loan. This is an excellent benefit for real estate investors or anyone who needs to move fast on a home.
Apply Now for a Bank Statement Loan in Sacramento
Are you ready to apply quickly and easily for a mortgage in Roseville, Sacramento, Placer, and El Dorado counties, or elsewhere in California?
Whatever your income situation, Cindy Steelman can make it happen.
Please call (916) 847-7263 to schedule your consultation and find out whether a bank statement loan is right for you.