Secret Routes Bank Statement Loan Lenders Reveal Today

Eligibility and Requirements

While bank statement loans offer greater flexibility, they still come with specific eligibility criteria. Borrowers generally need a credit score of at least 600, although higher scores can improve loan terms and interest rates. Additionally, lenders may require a higher down payment compared to conventional loans, often ranging from 10% to 20% of the loan amount. It's also important to maintain a consistent deposit history to demonstrate reliable income flow.