If the bank says it is OK, it will be OK. If you are in business, they would probably like a profit and loss statement also.Can I use 12 months bank statements as income verification for applying for a mortgage loan?
i'm a mortgage broker from alberta %26amp; in my experience you can get a stated income mortgage. it all really depends on your down payment minumum of 15% down and you have to have your own business, even just one day.
I doubt it. They coudl be loans, gifts, illegal finds, whatever. You can verify with paystubs or your tax returns if you are self emplyeed.
That's up to the lender. Some probably would. It will also depend upon the requirements of the loan program that you are applying under.
Most lenders want paycheck stubs for income verification, not bank statements.
Some will allow this, but you normally have to be self employed or have commission based income to qualify. It is considered a limited documentation loan and some even consider it a sub-prime loan.
Also, expect to pay a higher rate for this and put at least 10% down.
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