Bank Statement (12 & 24 Mo)
Premier alternative documentation solution for self-employed entrepreneurs. Qualify using 12 or 24 months of business or personal bank statements up to $3,500,000 with no MI.
Underwriting Specifications & Parameters
Program Highlights & Selling Points
- No Tax Returns Required
- Standard 50% Expense Ratio or Third-Party CPA Letter
- Personal or Business Bank Statements (12 or 24 Months)
- No Mortgage Insurance (MI)
Program Overview & Guidelines
Premier Self-Employed Alt-Doc Financing
The Corva Bank Statement Program provides premier alternative documentation financing for business owners, independent entrepreneurs, and contractors whose federal tax returns reflect aggressive depreciation and business deductions that obscure their true cash flow. Qualify using 12 or 24 months of verified account deposits with no private mortgage insurance (MI) required.
Underwriting Thresholds & Parameters
- Maximum LTV: Up to 85% LTV with zero mortgage insurance required.
- Minimum FICO: 640 qualifying credit score.
- Loan Limits: Up to $3,500,000 across primary residences, second homes, and investor properties.
- Statement Periods: 12 or 24 consecutive months of bank statements from the same depository institution.
- Debt-to-Income (DTI): Maximum 50% back-end DTI ratio.
Expense Ratio Options
Corva offers three flexible pathways for determining net business qualifying revenue:
- Standard 50% Expense Ratio: No third-party certification required. 50% of total qualifying deposits are treated as net qualifying income.
- CPA / EA Attestation Letter: Licensed CPA, Enrolled Agent, or Tax Preparer verifies business expense ratio (down to 15% for service-based companies).
- Third-Party Profit & Loss: CPA-prepared P&L statement covering the corresponding 12 or 24-month bank statement period.
Eligible Account Types
Both Business and Personal bank statements are eligible. Business statements are multiplied by the borrower’s percentage of business ownership. Personal bank statements are evaluated using 100% of net qualifying transfers or eligible direct customer deposits.
Submit Bank Statement (12 & 24 Mo) Scenario
Direct credit desk review by dedicated wholesale underwriters. Submit transaction parameters below for immediate pricing, structuring, and written terms.