Glossary

What is Bank Statement Loan?

DefinitionA non-QM mortgage that calculates self-employed income from 12 or 24 months of bank deposits instead of tax returns.

Where it matters

Self-employed

Bank Statement Loans

A bank statement loan is a non-QM mortgage that calculates self-employed income from 12 or 24 months of personal or business bank deposits instead of tax returns.

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Related terms

1031 Exchange
Amortization
Appraisal
APR (Annual Percentage Rate)
ARM (Adjustable-Rate Mortgage)
ARV (After-Repair Value)
Asset Depletion
Assumable Mortgage
Balloon Payment
Blanket Loan
BRRRR
Cap Rate
Cash to Close
Cash-on-Cash Return

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