If you’re self-employed or a freelancer, securing a mortgage can be difficult due to traditional income requirements. A Bank Statement Loan could be the solution. Our Bank Statement Loan Calculator simplifies the process, allowing you to estimate loan amounts, monthly payments, and down payment options, helping you move closer to homeownership.

    What is a Bank Statement Loan?

    A Bank Statement Loan is designed for those without traditional income proof, like self-employed individuals or freelancers. Instead of W-2s or tax returns, this loan uses your bank statements to assess eligibility. By reviewing your bank deposits over 12-24 months, lenders can determine your cash flow and eligibility for a mortgage, even if your income isn’t steady.

    Why Use a Bank Statement Loan Calculator?

    • Estimate Loan Amounts: Get a realistic loan estimate based on your actual income.
    • Understand Monthly Payments: See what your monthly payments could be, considering different loan amounts and interest rates.
    • Explore Down Payment Options: Experiment with different down payments to understand their impact on your loan.
    • Compare Interest Rates: Assess how different rates will affect your total mortgage cost.
    • Make Informed Decisions: Have a clearer understanding of your mortgage eligibility before applying.

    How to Use the Bank Statement Loan Calculator

    1. Gather Your Bank Statements: Collect 12-24 months of bank statements.
    2. Input Monthly Deposits: Enter your average monthly deposits into the calculator.
    3. Choose Loan Term: Pick your preferred loan term (15, 20, or 30 years).
    4. Enter Down Payment: Enter your down payment to see its effect on your loan.
    5. Adjust Interest Rate: Experiment with different interest rates based on your situation.
    6. Review Results: Get your loan estimate and monthly payment projections.

    Who Benefits from a Bank Statement Loan?

    Bank statement loans are ideal for individuals with non-traditional income:

    • Self-Employed Individuals: Use your business cash flow instead of traditional salary proof.
    • Gig Workers: Show your total monthly income from multiple sources.
    • Real Estate Investors: Use rental income and sales proceeds for loan eligibility.
    • Commission-Based Professionals: Leverage actual bank deposits to prove income.

    Let Mortgage Capital Help You Today!

    A Bank Statement Loan offers a flexible solution for those with non-traditional income. By using our Bank Statement Loan Calculator, you can estimate what you qualify for and plan your home purchase with confidence.

    Ready to take the next step toward homeownership? Try the Bank Statement Loan Calculator now, and discover your mortgage possibilities today!

    Call us at 561-300-0380 and let us help you turn your homeownership dreams into reality! Contact us now to get started!