Conventional vs. Bank Statement loans: The math might surprise you

Most buyers assume a standard Conventional loan is always the cheapest option. But if you are self-employed or a business owner, a No Income Verification (Bank Statement) loan can actually be easier, faster, and save you money!
Let us break down the math on a $450,000 home:
Conventional Loan (5% Down): You must show 1–2 years of high net income on your tax returns, which means paying heavy taxes to qualify. Plus, your monthly payment includes mandatory Private Mortgage Insurance (PMI).
👉 Total Monthly Payment: ~$3,800
No Income Verification (10% Down): No tax returns are required—we only look at your gross bank deposits. Best of all, there is NO PMI!
👉 Total Monthly Payment: ~$3,500
You win twice: you do not have to inflate your taxes just to get approved, and you save $300 every single month on your mortgage payment.
Want to see which option makes the most sense for your scenario? Comment the word MORTGAGE below or reach out to me directly for a personalized calculation.
Marat Tsirelson
The Lending Group Co.
Phone: (267) 400-0763

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