New Jersey Bank Statement Home Mortgages
Welcome to Capital Home Mortgage, where we strive to provide Self Employed homebuyers and homeowners alternative options to purchase, refinance, or cash out home loans. Non-QM Bank Statement Loans are specialized mortgage products designed for self-employed borrowers, independent contractors, or business owners who may not have traditional income documentation like W-2s or tax returns. Instead, these loans rely on bank statements to verify income, making them a key solution for individuals with non-traditional income profiles.
Capital Home Mortgage can guide purchasers through this non-traditional mortgage path, offering individualized solutions. Our extensive experience and dedication to customer service make us a dependable option for Non-QM loans.
Call today (201) 293-0440 to speak to a Bank Statement Mortgage Specialist.
New Jersey Bank Statement Mortgage Loans
A bank statement loan is a type of mortgage that allows self-employed borrowers to verify their income based on their personal or business bank statements, rather than traditional methods like tax returns, W-2s, or paystubs. Bank statement loans are generally used by self-employed individuals, small business owners, or independent contractors. Borrowers do not have to own 100% of the business. Our Bank Statement program provides a loan solution to help underserved credit-worthy self-employed borrowers who otherwise would not qualify for a home loan.
New Jersey Bank Statement Key Points
- Purchase, Rate & Term, Cash-Out
- Primary, Secondary and Investment
- Minimum Credit 640
- Maximum LTV 90%
- 12 or 24 Months Business or Personal Bank Statements
- Most loans will be qualified on an expense factor of 50%
- Rates are 30-year fixed
- Interest Only Options
- Two Year Seasoning Foreclosures / Bankruptcy
- Minimum Loan 150K / Maximum Loan 3M
Key Features of Bank Statement Home Loans
Benefits of Bank Statements Loans
- Income Flexibility: Perfect for self-employed borrowers who take significant tax deductions, resulting in lower reported taxable income.
- No Tax Return Requirements: Eliminates reliance on adjusted gross income (AGI) reported on tax returns.
- Higher Loan Amounts: Allows borrowers to qualify for larger loan amounts compared to traditional DTI-based loans.
- Wide Range of Eligible Properties: Can be used for primary residences, second homes, or investment properties.
- Flexible Qualification: Lenders evaluate the borrower’s cash flow rather than strict debt-to-income (DTI) ratios.
Downside of Bank Statement Home Loans
- Higher Interest Rates: New Jersey Bank Statement Mortgage Rates are priced higher than conventional or FHA loans.
- Larger Down Payments: Higher LTVs often come with stricter qualification criteria.
- Limited Lender Options: Not all lenders offer non-QM loans, which can limit competition and choice.
- Prepayment Penalties: Some programs may include prepayment penalties for early payoff.
Qualifying Bank Statement Home Loans
- Bank Statement Requirements: Provide 6-24 months of personal or business bank statements.
- Business owners may need to demonstrate expense ratios (e.g., 50-80% of deposits considered income).
- Reserves: Lenders may require 3-12 months of reserves (e.g., mortgage payments) in savings.
- Credit Profile: Higher credit scores and solid payment history improve terms. A 680+ often qualifies for better rates and higher LTV.
Who Should Consider Bank Statement Home Loans
- Borrowers who struggle to qualify for traditional mortgages due to complex income profiles.
- Investors or individuals seeking flexibility in documentation.
- Those looking to finance high-value properties with alternative qualification methods.
- Self employed Borrower who work for varies companies
New Jersey Bank Statement Mortgage Rates
Interests rates are calculated using several factors. Depending on the type of mortgage you are looking at and the impact of the items below can determine the interest rates.
- Demand for Mortgage Securities
- Property Securing the Mortgage
- Occupancy of the Property
- Loan to Value of the Property
- Borrower’s Credit Worthiness
Why New Jersey Homeowners Choose Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Competitive Rates & Fees
Direct Lender with Complete Mortgage Programs
Exceptional Service
Customer Support Application to Final Payment
Capital Home Mortgage Company Reviews
New Jersey Home Mortgage Programs
New Jersey Home Purchase loans
Looking to Purchase a New Jersey Home?
Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.
- Primary, 2nd Home, Investment
- Competitive Rates & Fees, No fee Options
- FHA, VA, USDA, Native American
- Conventional, Jumbo & Renovation
- Manufactured, Construction, Reverse
New Jersey Renovation Home Loans
Looking to Rehab a New Jersey Home?
Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not a renovation loan? Purchase the Perfect Home and make it your own.
- Remodel, Renovate or Repairs
- FHA 203K Streamline
- FHA Full Documentation Rehab
- Fannie Mae Homestyle Reno
- Freddie Mac Home Choice Reno
New Jersey FHA Home loans
Great 1st Time New Jersey Homebuyers
FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket. Call today to get started.
- Smaller Down Payments
- Flexible Underwriting Guidelines
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Down Payment Gifts Allowed
New Jersey va Home Loans
100% Financing for New Jersey Vets
Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.
- No Mortgage Loan Limits
- Simple Qualifying
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Manual Underwriting Allowed
New Jersey Conventional Home loans
Flexibility for New Jersey Homebuyers
Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a loan officer.
- Primary, 2nd Home, Investment
- Single and Multi-Family Properties
- Variable Mortgage Insurance Options
- Low Rates & a Variety of Terms
- Renovation Programs Available
New Jersey Jumbo Home Loans
New Jersey Non-Conforming Home Loans
Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits. Call today.
- Primary & 2nd Homes
- Variety of Mortgage Programs
- Simple Qualifying for Veterans
- Investor Specific Guidelines
- Credit Score Minimums
New Jersey USDA Home loans
New Jersey 100% Rural Loans
USDA Loans are a great option for families wanting to live outside of the city. Call today to speak with a loan officer to discuss your personal loan options.
- Primary Residences
- No Down Payment Required
- New Manufactured Homes Allowed
- Closing Costs / Repairs Rolled In
- Geographic and Income Limits Apply
New Jersey Native american Home Loans
Not Available in New Jersey
HUD 184 Home Loans are solely for Native American and offer a variety of benefits. Call today to speak with a loan officer to find out more.
- Primary Residence Only
- Manual Underwriting for All Loans
- No Credit Score Requirements
- Tribal Grants Allowed
- Purchase, Refinance, and Renovation
New Jersey Manufactured Home loans
Great New Jersey Alternative Housing
Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.
- Existing Purchase or Refinance
- New Construction
- One Time Close Land/Home Combo
- Lock at Contract
- FHA, VA, USDA, Native American
New Jersey Reverse Mortgage Loans
Your New Jersey Home at Work
Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.
- Primary Residence Only
- Simple Qualifying – Equity Based
- No Credit Score Requirements
- Minimum Age 62
- Purchase, Refinance, and Cash-Out
New Jersey Non QM Home loans
Making New Jersey Mortgages Possible
Looking for Non Traditional Home Mortgage Loan? Contact a Loan Officer Today to discuss the alternative mortgage options currently available.
- Purchase, Refinance & Cash-out
- Primary, Secondary, Investment
- Full Doc Programs
- Alt Doc Programs
- Corporations OK
New Jersey One Time Close Home Loans
Build Your New Jersey Dream Home
Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan. Call today to see how a OTC loan works.
- Primary Residences Only
- One Time Close
- Lock Rate at Closing
- Traditional Final Mortgages
- No Payments During Construction
New Jersey Refinance Mortgage loans
New Jersey Rate & Term Refinance
Refinancing can be a hard decision and may result in finance charges that may be higher over the life of the loan. Consult with your loan advisor for details.
- Lower Monthly Payment
- Shorten Mortgage Term
- Streamline Options Available
- Appraisal Waivers Allowed
- VA IRRRL’s
New Jersey Cashout Mortgage Loans
New Jersey Equity Mortgage Loans
Cash-Out Mortgage Loans make use of the equity in your home. Refinancing may result in finance charges that may be higher over the life of the loan. Consult with your loan advisor.
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Dream Vacation
- Higher Education
