Bank Statement Program

Bank statements are used in lieu of W2’s and pay stubs for borrowers who have a difficult time proving their income by traditional means of their earnings. The average deposits will account for their qualifying monthly income. The usual calculation is the average deposits of the recent 12 or 24 months of personal or business bank account statements. Each lender may have their own formula to determine the actual percentage of the average deposits and the specific type of bank statements.

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