Expert Tips Bank Statement Mortgage Loan Lenders Love

Why Lenders Favor Bank Statement Mortgages

Lenders appreciate bank statement mortgages because they offer a clearer picture of a borrower's cash flow stability. This approach mitigates the risk associated with self-employed borrowers who might have fluctuating incomes. By examining 12 to 24 months of bank statements, lenders can assess the consistency and reliability of your income, giving them confidence in your ability to repay the loan. Moreover, these loans often come with competitive interest rates, making them an attractive option for both borrowers and lenders.