Our bank statement program is a great option for those with significant liquid assets. Although these buyers may have the ability to purchase all cash, they may want to obtain a mortgage and preserve liquidity. In these circumstances, we use a common-sense approach; some features of the program:
- If buyer has liquid assets exceeding 110% of the purchase price, income verification is not required.
- Borrowers get credit for all liquid assets, including retirement accounts, brokerage accounts, cash value of life insurance policies, and more.
- Loan amounts up to $6 Million; higher loan amounts considered
- Down payments as low as 15%
- Minimum FICO score 620
- Foreign nationals allowed up to 70% LTV