Bank Statement Home Equity Loans
Have a low rate and don’t want to touch it? Get a Bank Statement Home Equity Loan to get cash-out today!
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Need a Bank Statement Home Equity Loan?
Do you have a low rate on your current mortgage but need cash-out? Need a home equity loan and can’t prove your income?
Equinox Home Financing offers a Home Equity Bank Statement loan. This loan program is perfect for someone who is self-employed. Typically this borrower has a lot of tax deductions and therefore on paper, the net income on their tax returns is too low to qualify for a traditional home equity loan. We can get you qualified by using your bank statements to show proof of income.
How It Works
Call or Apply Online
Our licensed loan officers are ready to help answer any questions that you have. Taking an application over the phone could be as quick as 10 minutes.
Get Approved
We will review your loan application, your property will be appraised, underwritten, and approved.
Fund
Once all items have been satisfied and we are clear to close, loan docs will be drawn. You’ll sign loan docs and your loan will fund.
Why Equinox?
Here at Equinox Home Financing, we pride ourselves on providing solutions to self-employed home buyers and borrowers. If you can’t provide proof of income or you are like most other business owners who have an overage of tax deductions, we can help you!
Yes, We are the Bank Statement Home Equity Mortgage Experts.
Here at Equinox Home Financing, we’ve helped thousands of self-employed and business owners get cash out using a Bank Statement Home Equity loan. Once we have reviewed your loan application, we will be highly certain that you do qualify. This is why our conversion ratio is so high. Don’t believe us? Call us today to find out.
Funded Bank Statement Home Equity Loans
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Application to Closing Conversion
Answers to Your Questions
What is a Bank Statement Home Equity loan?
A Bank Statement Home Equity loan allows you to take a cash-out loan without touching your existing loan. It is for someone who is self-employed but can’t prove their income. Typically this borrower has a lot of tax deductions and writes off a lot of expenses therefore on paper, the net income is too low to be used for a traditional home equity loan program. Here at Equinox we have the option to not use your income and we verify that by using your bank statements instead. With a Bank Statement Home Equity loan, homeowners can take cash-out for various purposes, such as home improvements, debt consolidation, or other financial needs.
Is My Credit Score a Factor in Getting Approved?
When doing a Bank Statement Home Equity loan, we do look at your credit score. These programs generally require at least a 680 FICO score and credit score does impact the maximum cash-out that you are able take out. If your financial situation makes sense today, we can lend you the money you need for Bank Statement Home Equity loan.
What Kind of Loan Terms Do You Offer?
There are two major types of Bank Statement Home Equity loans: a Home Equity Line of Credit (HELOC) and a Home Equity Loan (HELOAN). Both are loans that allow you to take cash-out using the equity in your home. A HELOC works like a credit card, allowing you to borrow up to a certain limit and repay over time. A HELOAN is a closed-end second loan that operates like a second mortgage. Generally, HELOANs have 30 year fixed rate options.
How Do I Get Qualified?
The process is simple. When most people call us, they are usually skeptical about the program and if they can really qualify. Here at Equinox Home Financing, we have been providing these programs since they have been made available and have been able to help many borrowers take cash-out on their homes. First step is to call us, a professional will help consult you and explain how our programs work in detail. There are many types of programs and it’s best to speak with us so we can guide you in the right direction.
What Type of Properties Can I Finance?
It depends what type of loan program you are qualified for. We have Bank Statement Home Equity loan options for Owner occupied, second home, and investment properties. We can lend on single family residences, condo’s and 1-4 unit properties.
Our Latest Funded Loans
Take a look at some of the loans we recently funded for our self-employed customers
Los Angeles, California
- Bank Statement Loan
- 10% Down Payment
- $1,200,000 Loan Amount
Tampa, Florida
- Bank Statement Loan
- 25% Down Payment
- $475,000 Loan Amount
Plano, Texas
- 2 Year 1099 Loan
- 15% Down Payment
- $505,000 Loan Amount
Testimonials
Read what our customers are raving about
What Are You Waiting For?
Call us today. A licensed representative is on stand by to help you with your financing needs. There’s no need to wait any longer. Get financing now!