Bank statement ONLY mortgages

[Times]

So, I was wondering if anyone here has experience with bank statement ONLY mortgages?

I know the rates are higher than normal, but still seems like the option I'll have to do. 

Please share any businesses/banks you know offer this and even better if you have any kind of experience with applying or getting approved

Thank you

[TryItAgain]

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@Times wrote:

So, I was wondering if anyone here has experience with bank statement ONLY mortgages?

I know the rates are higher than normal, but still seems like the option I'll have to do. 

Please share any businesses/banks you know offer this and even better if you have any kind of experience with applying or getting approved

Thank you

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I'm scheduled to close my bank statement mortgage with lender NASB later this month on a new build, 10% down. I own an LLC and used nothing but 12 months business bank statements and my personal credit scores (800 mid). Everything has gone smoothly so far, I was even able to lock the rate with them around 6%, this when regular mortgages were roughly .75-1% lower, so it does cost a little more. YMMV

Initially some of the bank statement loan banks started hiking their rates and some stopped doing them.  I had decent lender early on since this new build was purchased in March, but they started hiking rates well beyond the FOMC hikes so I looked elsewhere.  I did find several programs available, with wildly varying terms, along with many of the banks pausing their BSL programs for now. I ended up choosing NASB, I also like how they keep BSL's in house and don't sell them.

Happy Hunting!

[MortgageMama]

It would be very helpful if you could outline your scenario. You will receive much better answers. If you are self-employed, for how long and how many months of bank statements are available to use (12-24). Are the statements personal or business? Some lenders will take personal or business, but generally not a combination of the two.