Second Mortgage Bank Statement Program

At MortgageDepot, we understand that homeownership is a journey, and along the way, your financial needs may evolve. That’s why we’re excited to introduce you to our Second Mortgage Bank Statement Program —an innovative solution designed to help you tap into your home’s equity without the traditional hassles. With this program, you can access funds for various purposes, whether it’s home improvements, debt consolidation, or other financial goals. Join us as we explore the remarkable features of this program that could make a meaningful difference in your life.

• Credit Flexibility: Your Pathway to Possibilities
  We believe that your credit score shouldn’t stand in the way of realizing your dreams. Our Second Mortgage Bank Statement Program welcomes credit scores as low as 660, making it an inclusive choice for many homeowners. This flexibility opens doors to individuals who may have faced credit challenges in the past, giving them a fresh start towards achieving their goals.
• Generous Loan Amounts: Tailored to Your Ambitions
  Whether you’re embarking on a major project or need a substantial amount of funds, our program has you covered. With loan amounts of up to $550,000, you have the financial means to pursue your aspirations, from funding a dream renovation to consolidating debts for a healthier financial future.
• Empowering Debt-to-Income Ratio: Up to 50%
  Understanding that your financial situation is unique, we’ve designed our program to accommodate a debt-to-income (DTI) ratio of up to 50%. This means that even if you have existing financial obligations, you can still tap into your home’s equity without added stress. Your dreams and your financial health matter to us, and we’re here to support you every step of the way.
• Flexible Loan-to-Value Ratios: Your Equity, Your Choice
  Whether you prefer the conventional route or the convenience of a bank statement option, we’ve got you covered. Our Full Doc Max Combined Loan-to-Value (CLTV) goes up to 90%, allowing you to access a significant portion of your home’s value. Alternatively, if you opt for the Bank Statement Max CLTV, you can secure up to 85% of your home’s equity using your bank statements as evidence of income. The choice is yours, and we’re here to guide you toward the best option for your needs.
• No Reserves or Assets Required: Simplifying the Process
  We understand that everyone’s financial situation is unique, and we’ve streamlined the process accordingly. With our Second Mortgage Bank Statement Program, you won’t need to provide reserves or assets, making the application process smoother and less demanding. Your equity is the key, and we’re here to help you unlock it without unnecessary complications.
• Versatile Eligibility: Various Property Types Included
  Whether your property serves as your primary residence, second home, or investment property, you’re eligible for our program’s benefits. We believe that homeownership takes many forms, and our program caters to your diverse needs, no matter the property type.
• Recent Credit Events: A Fresh Start
  Life is full of ups and downs, and we recognize that recent credit events shouldn’t define your financial future. Our program is designed to accommodate recent credit events, giving you the opportunity to move forward and access the funds you need to thrive.
• Embrace Financial Freedom: No Prepayment Penalty
  Your journey towards financial freedom should be just that—a journey without unnecessary restrictions. With our Second Mortgage Bank Statement Program, you have the freedom to repay your loan ahead of schedule without any prepayment penalties. This empowers you to take control of your financial future on your terms.

At MortgageDepot, we’re dedicated to helping you make the most of your homeownership journey. Our Second Mortgage Bank Statement Program offers unparalleled flexibility, generous loan amounts, and accommodating terms to suit your unique financial situation. Whether you’re aiming for a significant home renovation, consolidating debts, or pursuing other ambitions, we’re here to guide you every step of the way. Reach out to us today and discover how our program can open doors to new possibilities and help you achieve your financial goals. Your dreams are our priority, and we’re honored to be a part of your journey toward a brighter future.

Connect with one of our loan consultants to learn more.