Bank statement loans.
Personal or business bank statements document the income. The program you choose sets the statement period, the expense method and everything else.
- Programs
- 9
- Score from
- 620+
- Zuma Prime and 2 more
- LTV up to
- 90%
- Zuma Prime
- Loans to
- $5M
- Carmel
9 programs take it.
Each program’s best score, LTV (CLTV for a second lien) and loan amount with this documentation, at the tier shown under each. Largest loan first.
| Program | Limits |
|---|---|
| CarmelNon-QM | 640+ score75% LTVloans to $5M75% at 660+ to $3M; $5M at 660+ and 65%; 640 allows 65% to $3M |
| Zuma PrimeNon-QM · Zuma family | 620+ score90% LTVloans to $4M90% at 700+ to $1.5M; $4M at 720+ and 70%; 620 allows 70% to $1M |
| Zuma SilverNon-QM · Zuma family | 680+ score80% LTVloans to $3.5M80% at 680+ to $1.5M; $3.5M at 740+ and 65% |
| BalboaNon-QM | 660+ score85% LTVloans to $3M85% at 720+; 660 allows 70% |
| Newport Non-ConformingNon-QM · Newport family | 620+ score85% LTVloans to $3M85% at 720+ to $1M; $3M at 680+ and 75%; 620 allows 65% to $1M |
| Zuma GoldNon-QM · Zuma family | 620+ score85% LTVloans to $3M85% at 680+ to $1.5M; $3M at 680+ and 70%; 620 allows 70% to $1M |
| ITINNon-QM | 660+ score80% LTVloans to $1.5M |
| Closed-End SecondSeconds | 680+ score85% CLTVloans to $750K85% at 740+ to $350K; $750K at 740+ and 75%; 680 allows 75% to $350K |
| Prime Closed-End SecondSeconds | 700+ score80% CLTVloans to $500K80% at 700+ to $350K; $500K at 700+ and 70% |
Figures for this documentation only; a program’s card elsewhere shows its best across every path. One loan may not get all three.
Good to know.
Are all deposits counted as income?
No. Review ownership, transfers, eligible business deposits and the applicable expense method. Personal and business accounts may require different calculations.
What should the broker collect first?
Identify the statement period, account type, business ownership and operating history. Then bring the credit, occupancy, loan amount and desired leverage into the program comparison.
Other ways to qualify.
Your next borrower. Our next conversation.
Bring us your next bank statement loan.
Send the scenario, ask JMAC a question, or get set up with your lending team.