KANSAS CITY, MO. (STL.News) – North American Saving Bank (NASB), a national mortgage lender, recently rolled out a new bank statement loan program to better accommodate self-employed borrowers and business owners who may not be eligible for more traditional loans.
Under the new program, in lieu of 1099s or tax returns, self-employed borrowers can demonstrate income and repayment ability through their bank statement history. In order to apply for the loan, self-employed customers will need to show:
12-24 months of bank statements from the same account.