Gelt Financial featured in article ‘How Many Months of Bank Statements for a Mortgage Are Needed?’
Gelt Financial president H. Jack Miller was recently featured as a real estate expert in the Benzinga article “How Many Months of Bank Statements for a Mortgage Are Needed?”
How Many Months of Bank Statements for a Mortgage Are Needed?
written by Caroline Lubinsky of Benzinga
Buying a house? Congratulations! But be prepared to provide so much personal information about yourself that even you learn something new. One of those key documents is bank statements. After all, you have to prove that you (and whoever you’re buying a home with) would be a responsible borrower. It’s never a bad idea to prepare in advance so that when you’re asked for them, you know exactly what to get. How many months of bank statements for a mortgage do you need? We got the official answer from two seasoned mortgage experts.
What is a Bank Statement?
A bank statement summarizes your account activity – typically, in monthly increments. It’ll show your deposits, withdrawals, transfers, written checks and balances. Even if you don’t go for a bank statement-only mortgage, you’ll still need to provide the documents.
“If an applicant has several bank or brokerage accounts, they should be prepared to give the lenders copies of all of them,” says H. Jack Miller, president and CEO at Gelt Financial, LLC. “Lenders will want to see your name, account number and dates at a minimum on the statements. If you print screen shots or PDFs, be aware this info must be on them.”
Private Money Lender – Related posts
Gelt Financial just funded a $450,000 refinance loan for a single-family home in beautiful Charleston, SC. The borrower plans to renovate the property and turn it into a rental. With a 64% LTV and no income verification required, this deal highlights the flexibility we bring to real estate investors. Looking for creative financing? We can help. When your bank says NO, we say YES! About Gelt Financial Gelt Financial is a [...]
How do Investors receive Quick Liquidity for real estate partnerships minority equity interests? One common investment strategy in commercial real estate is to bring multiple real estate investors together [...]
Just Closed in Willingboro, NJ! Gelt Financial just funded a $670K refinance for a unique project—a former bank being converted into a cannabis dispensary. Traditional banks wouldn’t touch the deal [...]
Gelt Financial is excited to announce we just closed on a $1.6MM mezzanine loan on a 60k SF office building in Houston, TX. The capital provided by Gelt will [...]
You are debating receiving your real estate loans from either a bank or a private lender. There’s been a lot of talks lately about private lenders like us here [...]
JUST CLOSED IN FORT LAUDERDALE, FLORIDA! Gelt Financial is excited to announce we just closed a $1.4MM non-performing note purchase on an office building in Fort Lauderdale, FL. The [...]
When a company is going bankrupt, there are things they can sell other than its assets. For one, they can also sell their debt. What is Distressed Debt? Distressed debt [...]
Gelt Financial is excited to announce we just closed on a $225k first mortgage on a condo in Miami, FL. Talk about a breathtaking property! Discover more closed commercial [...]
JUST CLOSED Cash-Out Refinance in Ramsey, New Jersey! Gelt Financial just closed on a $500k First Mortgage on an office building in Ramsey, NJ, a suburb of New York [...]
We are pleased to have secured asset-based financing for a telecommunications and IT company in Chapter 11 Bankruptcy providing them with an accounts receivable line of credit. Prior to contacting [...]
Mezzanine financing is a type of capital that is used to finance a variety of different types of commercial real estate projects. Unlike traditional loans, which are secured by [...]
As prices in several markets dip for the year 2019, a lot of people are reminded about companies going bankrupt. Consumers are not the only ones affected by this - [...]
We are happy to close a commercial mortgage loan for an experienced real estate investor in Pittsburgh, Pa on a blanket mortgage of 3 properties, 2 retail centers and 1 [...]
JUST CLOSED IN SEVEN BUSINESS DAYS! Gelt Financial just closed a $750K First Mortgage on a retail building in Fort Lauderdale, FL. This loan needed to close FAST, and we [...]
Gelt Financial just closed a $400K refinance loan for a medical office building in Odessa, TX. The property sits in a fantastic location with excellent parking, and the borrower came to us with strong business financials. With a low 49% LTV, this deal was a great fit for our flexible lending approach. When traditional lenders say NO, we say YES! About Gelt Financial Gelt Financial is a non-bank commercial [...]
"Jack, Congratulations to the Gelt Team! Felix is a keeper!!! Most definitely, you will see more deals from my company."
At Gelt Financial, LLC, we believe in making a difference—not just in the world of finance, but in the communities we serve. That’s why we are proud to sponsor [...]
Hard money lending is a type of financing in which a borrower receives a short-term loan secured by real property. Investors typically [...]
JUST CLOSED IN ATLANTIC CITY, NEW JERSEY! We have a story for you. An American Dream come true. Last week we received a $65k payoff from a family who [...]
Gelt Financial, LLC is pleased to sponsor and support SafeTALK a three-hour suicide alertness and prevention training, developed by Livingworks, which is an innovative workshop that provides participants with tools, [...]
Gelt Financial arranged a cash-out refinance for a client that owns a single-family investment property. The loan amount was $130,000.00 with a 30-year amortization and no balloon. It was done [...]
Just Closed! We just closed a $300K refinance for an owner-occupied commercial condominium in Philadelphia, PA—home to a local dance studio. The borrower’s previous loan was in forbearance, but we stepped in and [...]
JUST CLOSED IN BROOKLYN, NEW YORK! Gelt Financial is excited to announce the closing of a $800K first mortgage in Brooklyn, NY. The investment property was a retail building [...]
It is not the critic who counts: not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit [...]
Gelt has been helping commercial real estate and investment borrowers since 1989. When your bank says NO, we say YES! "Marcy: Hi, it's Marcy and Jack. Jack: Hey, we're Gelt Financial, [...]
In this video, H. Jack Miller shares his passion for helping real estate investors and small business owners secure financing, particularly when traditional banks decline. With over 35 years in the [...]
Jack Miller tells a private lender story, about a hard working borrower who owns a restaurant, was struggling with employees, could not get financing and is building the American dream. "Hi, I [...]
In the video, Jack explains the concept of a blanket or cross-collateralization mortgage. It involves combining multiple properties into one mortgage, allowing borrowers to tap into equity in one property to [...]
Gelt Financial, LLC just closed a $1,000,000.00 first mortgage on a Building leased to Wendy's in TN. This was closed without an appraisal and within a week, the borrower needed a [...]
Michael Kelman goes into detail and lays out the business purposes and commerical mortgage that are in the stick zone of Gelt Financial and how we can get create to meet [...]
Gelt Financial closed a 1st mortgage rehab loan in Virginia for a cash out refinance to fix up the property, no appraisal or income verification.
What does the collapse and FDIC take over of Banks mean to our Borrowers and Mortgage Brokers? How will this effect us and you? "Marcy: Hello. Jack: Hey, we want to [...]
What’s needed for a fast and smooth mortage closing at Gelt Financial? And what can cause delays? Go behind the scenes with Jack Miller and Marcy Berger at Gelt Financial to [...]
We just provided with a experienced investors 4.3 Million bridge Mortgage on 3 credit tenant deals as part of a 1031 Transaction. This borrower will refinance with a bank, but a [...]
In our latest YouTube video, Michael explains what a mortgage broker or borrower should send to Gelt Financial—or any lender—for a deal to be reviewed for approval. When your bank says [...]
Michael talks about the financing Gelt Financial provides owners of Funeral Homes and other business. Remember when your bank says NO, we say YES!
Jack Miller and Marcy talk about a Mezzanine loan that just closed on a new state home in the North Shore of Long Island for a real estate investor. Mortgage broker [...]
Gelt Financial offers financing to HOA and Condo associations. There are plenty of associations who don't have time or cant go to a bank. What's when Gelt steps in and privies [...]
Gelt is excited to partner with a local real estate investor. We provided 100% debt and equity in a deal where we purchased an office building and leased it out to [...]
Jack Miller closed another commercial mortgage, this time for a car wash. Gelt has been helping commercial real estate and investment borrowers since 1989. "Jack: This is Jack. Marcy: This is Marcy. [...]
Markets and the needs of borrowers are always changing, in order for a mortgage broker to survive and serve the needs of borrowers, they need to pivot. Foreclosure bailout loans and [...]
Gelt financial closes a commercial office building in Atlanta Georgia for the owner of a new business in 4 working days after the bank said no at the 23rd hour. "Jack: [...]
Gelt is excited to provide first mortgage financing for an owner of a business who purchased a home for his employee's to live in. The buyer owned several restaurant business with [...]
Gelt closed another deal in 5 working deals, a rehab in Miami, collateral based no appraisal. "Jack: Hey, Marcy Berger, how are you? We're making a YouTube. We haven't made one [...]
Very high LTV, new construction, Florida almost nothings down. property only qualification. When your bank says NO, we say YES!
Networking is a great source of business for mortgage brokers, Jack and Marcy at Gelt talk a little about it. "Jack: Okay, Marcy. So, like our YouTube channel or wherever you're [...]
In the video Jack explains the concept of phantom income in real estate investing. Phantom income refers to situations where investors may not receive cash distributions despite owning a share of [...]
Jack Miller advises mortgage brokers on everything they should have ready and provide to lenders to get their loans closed FASTER.