This innovative mortgage solution is tailored for individuals who may not qualify through conventional means but can demonstrate their financial stability through 12 months of bank statements when purchasing or refinancing a cooperative apartment.
Bank Statement Program
Our Bank Statement Program for Co-ops is a game-changer for potential homeowners who have a steady income but may not have the traditional documentation typically required for a co-op mortgage. This program allows borrowers to leverage their bank statements as proof of income, providing a viable path to securing a co-op loan.
Features of the Program
– 12-Month Bank Statement Requirement: Instead of relying on W-2s or tax returns, borrowers can use 12 months of bank statements to demonstrate their income.
– 70% Loan-to-Value (LTV) Ratio: Our program offers up to a 70% LTV for co-op properties, ensuring that borrowers can access a significant portion of the property’s value while maintaining manageable equity requirements.
– Exclusive to Co-op Properties in the Five Boroughs: This program is specifically available for co-op properties located within the five boroughs of New York City. This focus allows us to cater to the unique needs of the NYC real estate market and its diverse range of co-op properties.
This program is perfect for individuals who have a reliable income stream but may not have the traditional documentation to prove it. Whether you’re a small business owner, a freelancer, or someone with multiple income sources, our Bank Statement Program can help you achieve your dream of owning a co-op in New York City.
Getting started with our Bank Statement Program is simple. Begin by gathering your last 12 months of bank statements, and reach out to our team of mortgage specialists. We will guide you through the process, ensuring that you understand each step and feel confident in your path to homeownership or refinancing your current co-op unit.
Contact us to find out more about how this bank statement mortgage program can work for you and take the first step towards owning your co-op property or refinancing an existing co-op mortgage.
