Alaska Bank Statement Loans

Griffin Funding is qualified to lend throughout the entire state of Alaska. Here is just a sample of the cities where you can get Alaska bank statement loans:

• Anchorage
• Fairbanks
• Juneau
• Sitka
• Kodiak
• Palmer
• North Pole
• Valdez
• Talkeetna
• Gustavus

Alaska bank statement loans use bank statements instead of pay stubs and tax returns to qualify you for a mortgage loan. Upon applying for the loan, you must provide the last 12 to 24 months of bank statements from personal or business checking accounts as proof of income and financial stability. These statements should show consistent deposits, healthy balances, and the ability to make monthly payments comfortably.

The team at Griffin Funding will use these bank statements, along with your credit score, DTI (debt-to-income) ratio, and other factors, to determine how much you may borrow. Once you’ve been approved, you can lock in the terms and find a home to purchase. It’s really that easy.

As an alternative to conventional mortgages, bank statement mortgage loans in Alaska offer several key benefits to many prospective homeowners that don’t fit traditional mortgage guidelines. This includes:

• Qualify using bank statements: For small business owners, gig workers, consultants, realtors, and anyone else who isn’t receiving a W-2 every tax year, one of the primary benefits is that you can qualify using your bank statements rather than pay stubs or tax returns.
• Down payments as low as 10%: Conventional mortgage loans usually require a down payment of approximately 5% to 20%, so 10% maintains a competitive edge.
• Loan amounts of up to $5 million: High loan caps mean you can get the funds you need to buy the home of your dreams
• DTI ratios of up to 50% are accepted: DTI requirements are much more flexible than conventional mortgage loans, making qualifying for an Alaska bank statement loan easier.
• Fixed- and adjustable-rate options: Choose a rate that fits your needs and helps you plan your future budgets.

Check out our bank statement loan calculator to see what you may qualify for. You can also download the Griffin Gold app to track your finances, monitor your credit profile, and set up an action plan to purchase a home.

If your bank statements can demonstrate your financial strength, there are several great non-QM mortgage loan options available:

• Standard bank statement mortgages: Realize your dream of homeownership using your personal or business checking account statements.
• Bank statement home equity loans (HELOANs): Tap into your existing home’s equity without the need for conventional income verification. You’ll typically need the last 12 or 24 months’ worth of checking account statements to qualify.
• Bank statement refinance loans: Get the cash you need to make home improvements and repairs, cover emergency expenses, pay off an existing mortgage, and more by securing a cash-out refinance loan. Using only your bank statements to qualify, you can get up to 80% of your property value to use however you’d like.

If you want to secure a bank statement mortgage loan in Alaska, you’ll need to meet a few requirements. Here are some of the basic qualifiers that you should consider before applying:

• Time in business: You must show that you have been in business for at least two years. In some cases, you may only need one year in business as long as you have at least two years of industry experience. If you are retired, your retirement income may still qualify as regular income.
• Bank statements: You will need to furnish 12 to 24 months of checking account statements from either your personal or business accounts. You can use multiple checking accounts to help you qualify. However, you cannot combine checking and business accounts–it’s one or the other.
• Credit score: You must have a credit score of at least 620 to qualify. However, the higher your credit score, the higher the likelihood of receiving more competitive approval terms. Your credit score will influence your loan’s required down payment.
• Loan amount: Bank statement mortgages in Alaska can range from $100,000 to $5,000,000. Depending on the financed amount, your bank statements should show between 3 and 12 months’ worth of monthly payments in reserves.

Griffin Funding aims to make it easy to secure bank statement loans in AK. Without the need to prove financial health with pay stubs or tax returns, you can play to your real strengths—powerful checking account statements—and get approved for a home loan of up to $5 million with as little as a 10% down payment.

If you have at least two years in business, a credit score of at least 620, and can provide one to two years’ worth of business or personal checking account statements to show your financial stability, you can apply for a bank statement loan in Alaska. Contact Griffin Funding today to begin making your homeownership goal a reality.