Can I get a home mortgage showing only bank statements?

jaydawg

LoanSafe Member
Jun 12, 2019
3
0
0
I have heard of this being an option in some cases but I can’t find a legitimate statement on it. I am trying to see what my options are as a small online business owner in terms of getting a home mortgage. Someone I know mentioned using bank statements to prove my income in order to qualify for such a loan. Is this an option?
 

Jzone

LoanSafe Member
Jun 20, 2017
166
20
18
69
I have heard of this being an option in some cases but I can’t find a legitimate statement on it. I am trying to see what my options are as a small online business owner in terms of getting a home mortgage. Someone I know mentioned using bank statements to prove my income in order to qualify for such a loan. Is this an option?
This may have been a possibility 10 years ago with " no documentation" mortgages, but not anymore. Its part of what caused the market to crash 2008-2011. You will need to provide 3 years tax returns for your small business. Banks need to know that you can repay the loan.
Unless your business is something shady like selling drugs, what do you have to hide? Tell the bank how you make a living and go from there. There are millions of small business owners that get home loans.