Arkansas Bank Statement Loans

Griffin Funding is proud to offer bank statement loan programs throughout the entire state of Arkansas. From the sprawling metropolis of Little Rock to the quaint community of Eureka Springs, we have you covered. Here’s a sampling of just some of the cities where we can provide funding:

• Little Rock
• Fort Smith
• Springdale
• Fayetteville
• Jonesboro
• Conway Rogers
• Pine Bluff
• Texarkana
• Russellville
• Benton

Bank statement loans in Arkansas are unique in that you don’t need to provide pay stubs or tax returns to verify your income. Instead, you just need to show 12 or 24 months’ worth of checking account statements. This is a fantastic option for small business owners, gig workers, consultants, and realtors who don’t necessarily have a W-2 or consistent income.

Upon applying, you will provide the requested bank statements. Our team at Griffin Funding will review your financing request based on those bank statements and your credit score, DTI (debt-to-income) ratio, and other factors to find the program terms that best suit your needs. Once you’re locked in, you can begin shopping for your new home.

Before applying, download our Griffin Gold app to monitor your credit, analyze your financial needs, and learn more about bank statement loans in Arkansas.

Besides the ability to qualify your income with bank statements instead of taxes or pay stubs, bank statement mortgage loans in Arkansas offer many benefits:

• Qualify using bank statements: If you’re struggling getting approved for a conventional mortgage loan because you don’t earn a W-2, then this may be a great alternative for you. Qualify using the last 12 or 24 months of bank statements instead.
• Down payments as low as 10%: Depending on the strength of your bank statements, credit score, and other factors, you could qualify for a down payment as low as 10%.
• Loan amounts of up to $5 million: Having high loan caps means Griffin Funding can help get you into your dream home.
• Flexible DTI ratio requirements: With Arkansas bank statement loans, debt-to-income ratios of up to 50% are often accepted.
• Fixed- and adjustable-rate options: Choose a rate option that fits your budget and gives you flexibility for the future.

If these benefits sound like the right opportunity for you, check out our bank statement loan calculator to see what you could qualify for.

Griffin Funding is proud to offer Arkansas customers several non-QM mortgage loan options. With these programs, you can leverage your bank statements to help you achieve the dream of homeownership, pay off an existing mortgage, or tap into your existing home’s equity:

• Standard bank statement mortgages: Use your checking account statements instead of pay stubs or tax returns to verify income for a bank statement loan in AR.
• Bank statement refinance loans: Need cash to make home improvements, pay unforeseen expenses, or pay off an existing mortgage? With a cash-out refinance loan, you can borrow up to 80% of your property’s value and use it as cash.
• Bank statement home equity loans (HELOANs): With just one or two years’ worth of statements to help you qualify, you can tap into your existing home’s equity without jumping through the usual hoops for income verification.

While bank statement mortgages in Arkansas generally offer more flexibility, there are still requirements you’ll need to meet:

• Time in business: In most cases, be prepared to provide proof of at least two years in business. Sometimes, you may only need one year in business with at least two years of industry experience. If you are retired, your retirement income can help you qualify.
• Loan amount: Arkansas bank statement loans can range from $100k to $5 million. Bank statements will play a factor in the final approved amount, as we want to make sure you have a comfortable 3 to 12 months’ worth of payments as a reserve.
• Credit score: The minimum qualifying credit score for bank statement loans in Arkansas is 620. The higher your score, the more competitive the terms will be. Your credit score will also dictate the down payment required.
• Bank statements: You must provide the last 12 to 24 months of checking account statements to verify income. You can use multiple checking accounts to help show your financial strength, however they will need to be from either business or personal accounts.

Getting approved for a home mortgage loan in Arkansas can be time-consuming and daunting, especially if your income doesn’t come from traditional W-2 employment. If you’re having trouble qualifying for conventional mortgages, and your business or personal checking accounts show your true financial strength, consider applying for a bank statement mortgage.

However, not all bank or mortgage brokers are created equal. You should work with a funding partner who understands the complexities of Arkansas bank statement mortgage loans and can help you find the program that works best for your budget and goals. Griffin Funding can be that partner.

If you can meet the loan requirements and provide one to two years of personal or business checking statements, apply today. Contact the experts at Griffin Funding to take the first steps toward homeownership.