Andrade Real Estate Services

The 12-Month Bank Statement Non-Owner Occupied Program is designed for investors and business-purpose borrowers who may not qualify with traditional tax returns. Instead, income is verified using 12 months of consecutive personal or business bank statements—100% of personal deposits or 50% of business deposits (higher with a CPA letter). With loan amounts up to $3 million, LTVs up to 80%, and DTIs up to 50.49%, this program offers flexible options for investment purchases, refinances, and cash-out transactions.

This program is ideal for buyers who:

Are self-employed and seeking to purchase or refinance an investment property.
Can provide 12 months of personal or business bank statements.
Need higher LTVs (up to 80% for purchase / refi) with flexible DTI limits (up to 50.49%).

Property Type	Credit Score	Min Down	Max LTV	Notes
SFR (1-4 units), Condominium	660+	20%	80%	Investment purchase only. Higher rates apply to non-warrantable condos.
SFR (1-4 units), Condominium	640 – 659	25%	75%	Same as above.
SFR (1-4 units), Condominium	620 – 639	35%	65%	Same as above.
Manufactured Home (Doublewide+)	600+	35%	65%	Doublewide or larger, built after 6/15/76, on a permanent foundation.
ITIN	700+	30%	70%	Same as above.
ITIN	660–699	35%	65%	Same as above.
ITIN	640–659	40%	60%	Same as above.

Occupancy Requirement
Investment Use Borrower will not occupy the property.
Note First-time investors are eligible even without prior homeownership or real estate ownership. Investors living rent-free are acceptable with a signed rent-free letter from the property owner. Scenarios are subject to case-by-case review.

Residency Eligibility
Eligible Valid SSN — must have a valid Social Security Number (SSN). Permanent residents — must provide a valid, unexpired Green Card. Non-permanent residents — eligible with valid visa or Employment Authorization Document (EAD). Individuals with work permits — must provide unexpired documentation. ITIN borrowers — must provide IRS ITIN assignment letter plus valid U.S. government-issued photo ID (driver’s license, passport, etc.).
Ineligible Foreign nationals who do not reside in the U.S. are ineligible. Borrowers without a social security number, or with a number that cannot be validated through the SSA are ineligible. Borrowers with diplomatic immunity are ineligible. Borrowers with expired residency or ID documentation are ineligible. Borrowers previously convicted of mortgage fraud are ineligible.

Income Consistency Requirements
Employment History 12 months consecutive personal or business bank statements required. Personal statements: 100% of deposits counted as income. Business statements: 50% of deposits counted unless a CPA letter verifies lower expenses (up to 90% of deposits allowed, minimum 10% expense factor). Self-employed borrowers must show 2 years in same industry (license, permit, or CPA verification). LOE required explaining business setup, income, and accounts used if multiple.
Notes A business license, permit, or CPA letter confirming the business has been operating for 2 years or more is required. Up to 3 bank accounts may be used (must be consecutive, cannot mix personal and business). Must provide LOE describing business name, setup (LLC, Sole Prop, etc.), nature of business, employees, and monthly income. Maximum 6 returned checks for insufficient funds in the last 12 months (waived if ≤ 80% LTV and ≤ $1.5M). Large deposits outside average must be sourced. No 4506 or P&L required. All account holders must be on loan/title (exceptions case-by-case). Rental history may be used as tradeline if documented with VOR or canceled checks.

Income Type	Requirement	Documentation
Bank Statement (Personal)	12 months required.	12 months consecutive statements; all pages.
Bank Statement (Business)	12 months required.	12 months consecutive statements; all pages + CPA letter if using >50% of deposits.
All Types	Proof of business.	In addition, a business license, permit, or CPA letter is required to confirm the business has been operating for 2 years or more. If a CPA letter is used, the CPA does not need to be the borrower’s personal CPA, provided they have reviewed the borrower’s business documentation, and must include proof of certification (CPA license or CTEC verification).

Down Payment Funds
Eligible Sources Borrower must contribute at least 15% of the down payment from their own funds, Large deposits, Gift funds from family, Retirement (401k / IRA), Sale of assets.
Requirements A borrower may not combine different account types, statements must be entirely personal or entirely business, All individuals listed on the bank statements must also be included on the new loan and on title, Minimum 2 months bank statements to verify assets, Large deposits must be sourced, Gift funds allowed with gift letter + proof of transfer (no seasoning required), Retirement funds require withdrawal terms + statements, Asset sales require bill of sale + proof of deposit.

Gift Funds
Eligible Donors Allowed for down payment and/or closing costs from acceptable sources such as: Spouse or domestic partner, Parent, step-parent, or foster parent, Child, step-child, foster child, or adopted child, Brother or sister, step-sibling, foster sibling, or adopted sibling, Grandparent, great-grandparent, step-grandparent, foster grandparent, or grandchild, Aunt, uncle, niece, nephew, or cousin, In-laws, future in-laws, fiancé or fiancée, ex-spouse, or former relative, Relative of a domestic partner, Godparents.
Ineligible Donors Not allowed as sources of down payment or closing cost funds: Client’s employer, Builder or contractor, Developer.

Reserves
Requirement 6 months reserves if LTV exceeds 75%.
Note No reserves when LTV is 75% or below.

Loan Amounts
Minimum Loan Amount $100,000.
Maximum Loan Limits $1,000,000 (ITIN program), $3,000,000 (case-by-case above this).

Non-Occupant Co-Borrowers
Eligibility Allowed on investment purchases, Must be on title and loan, Income, assets, and liabilities are included in qualification, All individuals listed on the bank statements must also be included on the loan and title (case-by-case exceptions possible).
LTV Limits & Exceptions Non-occupant co-borrowers do not increase the allowable LTV.

Property Types
Eligible SFRs (Single-Family Residences), 2–4 Units (must occupy one unit), PUDs (attached/detached), Condominiums (attached/detached; warrantable only. Non-warrantable considered case-by-case), Manufactured Homes (doublewide or larger, or built after 6/15/76, on a permanent foundation; moved homes allowed if DMV title is retired).
Ineligible Manufactured Homes (Singlewide, or built before 6/15/76, or no permanent foundation, or parks/subdivisions with lot rent.) Non-Warrantable Condominiums (if >50% investor-owned, >15% HOA delinquencies, litigation, or >25% single-entity ownership; unless approved case-by-case), Condo Hotels or Motels (projects operated as hotel/motel, hotel/motel conversions), Commercial property, Vacant land or land development properties.

Third Party Contributions
Maximum Contribution Seller: Limited to recurring and non-recurring closing costs (NRCCs) only, Max 3.0% regardless of LTV. Real Estate Agent / Loan Officer: Allowed as long as total seller + non-seller contributions do not exceed 3.0%, Dollar amount cannot exceed the borrower’s actual NRCCs.
Allowed Uses Closing costs, Prepaid items, Discount points, Buydown escrows.

Disclaimer – This matrix was published on 09/20/2025. Program guidelines may have changed since then. Please contact Alexis to confirm the most current requirements. For complete details, refer to the Partner Matrices PDF or reach out directly to Alexis for program-specific guidance.

Investment

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