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
JUST CLOSED IN BROOKLYN, NEW YORK! Gelt Financial is proud to announce we just closed a $450K First Mortgage on a mixed-use property in Brooklyn, NY. The building was [...]
Whether you’re a one or two-person shop or a large, correspondent lender that lends across the state or across the country, you know there are times when you get a [...]
Deal done! Gelt Financial just closed a $250K cash-out refinance in Crystal River, Florida. This borrower didn’t need a long approval process or piles of paperwork—he needed access to [...]
Gelt Financial was recently featured in Consumer Affairs' article, "How many people can be on a mortgage?" In this article, H. Jack Miller, President & CEO of Gelt Financial, [...]
JUST CLOSED IN WARREN, OHIO! Gelt Financial is excited to announce we just closed a Dollar General in Warren, OH. This First Mortgage was for a repeat borrower and [...]
Granite City, IL- We did the loan solely on the property 24-month term. Mixed Use property refinance Non-U.S. resident credit Foreign national Lives and works overseas No credit No personal [...]
We are pleased to provide financing for a real estate investor on a cash-out refinance on an investment property in Pennsylvania. The borrower cashed out to pay tax liens as [...]
FORT LAUDERDALE, Fla., April 14, 2015 - With widespread criticism citing the demand for greater liquidity for minority interest owners in real estate partnerships and real estate crowdfunding positions, QuickLiquidity [...]
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 president H. Jack Miller was recently featured as a real estate expert in the feature “What Happens to My Mortgage If My Lender Goes Bankrupt?” on U.S. News [...]
Gelt Financial has closed a $1.4MM cash out refinance mortgage for two NNN corporate-guaranteed properties located in Marietta, GA, and Chattanooga, TN. The loan, closed at 56% LTV, was [...]
Who is your lender, is as important as what deal you get... Since 1989. In the past week some examples of how we work with our borrowers. 1. One of [...]
When it comes to financing for commercial real estate investments, borrowers have two main options: traditional bank loans and private lenders, including hard money lenders. While both options have their pros and [...]
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 [...]
When submitting loan requests to a private lender, it is important to provide as much information as you can to get a quick response and ensure that your deal [...]
The Gelt Charitable Foundation continues to make a difference with nationwide suicide prevention workshops. DELRAY BEACH, FLORIDA - Every September, we recognize Suicide Prevention Month, but one nonprofit is dedicated [...]
Gelt Financial providing private lending for office buildings nationwide between $100,000 and $5,000,000 Gelt Financial is a leading provider of private lending for office buildings nationwide. We offer loans between $100,000 [...]
It would seem that the interest rate and loan terms are the most things to look for when choosing what mortgage company to go with, but the question is more [...]
NEW PROGRAM Commercial and real estate investor mortgages from 100k and up. 30-year terms, no balloons. All credit considered, No income verification, foreign nations, Loans to LLC, credit problem ok. [...]
Closed Loan, Gelt was able to assist this borrower obtain financing for her vacant Single-Family investment property in upstate NY. The property has been vacant for some while and with [...]
H. Jack Miller joins Ashley and Sara from the Successfully Screwed Podcast and talks about falling, failing and failure and overcoming obstacles. From https://www.successfullyscrewedpodcast.com/ Jack Miller’s story this week on The Successfully [...]
Gelt Financial buying distressed debt on commercial real estate between the loan sizes of $100,000 and $5MM Are you a lender looking to sell your distressed commercial real estate debt? [...]
We just closed 4 no income verification investor loans with cashout
DEAL CLOSED IN LAKE WORTH, FLORIDA! Gelt Financial is excited to announce we just closed on a $900K First Mortgage on a retail strip center in South Florida. The [...]
Jack Miller gives some tips to commercial mortgage brokers in challenging times.
In this video, Jack discusses a closed deal in Chesapeake, Virginia. Wherein $220,000 is provided, first mortgage on a mixed-use property to a real estate investor with poor credit. The borrower [...]
A Mortgage broker bought us an Office Condo financing request for a business owner who occupied the property and could not verify income and did not quality for bank financing due [...]
Gelt Financial just closed two fix and hold JV equity Mortgages, were we provided 100% Financing to our partner. Gelt has been helping commercial real estate and investment borrowers since 1989. [...]
Gelt Financial, LLC just closed a $50,000.00 first mortgage on an office building in Kansas City, for a real estate investor. Gelt focuses on closing small commerical and investment mortgages. "Jack: [...]
In the video, Jack shares an interesting story about closing a 100% loan-to-value deal on land in Ohio. Despite not typically offering land loans, Gelt made an exception due to the [...]
Jack, discusses his experience in providing fix and flip and rehab loans for real estate investors. He shares a story about a challenging time during a market crash in 1991 when [...]
What is the culture at Gelt Financial? Go behind the scenes with Paul Barash. Every company has its own culture—and Gelt Financial is no different.
Jack Miller talks about what a Break up fee is and why and how it comes into play. "Hi, this is Jack Miller from Gelt Financial. I hope you're having a [...]
Jack Miller asks whether you are cut out to be a commercial or residential mortgage broker. What skills do you need? Do you have them? "Hello, this is Jack Miller at [...]
Gelt Financial provides first mortgage financing on an owner occupied business under our no income verification program. No appraisal, no credit and no income verification. "Jack: Hello, this is Jack and [...]
Jack Miller gives a little explanation on why lenders charge prepayment penalties, the different types of them and some tips on how to analyze and negotiate the best one for your [...]
In the video, Jack shares a valuable tip for investors: many people and businesses fail because they take on too much and lose focus. He advises caution, emphasizing the importance of [...]
Gelt Financial is lending and busy, while the secondary market is almost shut down and a lot of other lenders are not lending. We are busy providing commercial and investment mortgages [...]
Commercial Mortgage Pawn Shop in Fort Lauderdale, FL "Marcy: Hi, Jack. Jack: Hey, Marcy. To tell people, I should, I say at the end, but I'm going to say at the [...]
We work all day long with mortgage brokers and borrowers, its always nice to hear what they have to say about us and the service levels at Gelt Financial. Our borrowers [...]
When the banks said no, Gelt Financial said YES! We just closed a loan for a South Florida condominium association after other lenders turned them down. Whether it's unique challenges or [...]
Everyone has challenges at some point or another in their life; each of our challenges is different, but in today's times, a lot of people are falling behind on their mortgages [...]
Jack and Marcy discuss the current market and share their observations, including the types of deals Gelt is currently closing and not closing, and the reasons behind these decisions. They outline [...]
We completed a mixed-use property first mortgage refinance for a non-U.S. resident who is a foreign national and lives and works overseas. He has no credit or no personal income. We did [...]
Gelt Financials provided a First Mortgage on a co-op investment property in Naples, FL. We are your private lending partner for small balance investment and commercial properties. Watch the video to [...]
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 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 closes collateral based first mortgage in San Antonio, Texas. Brought to us by a mortgage broker, closed very fast. "Jack: Okay, Marcy Berger, the angle is perfect. We're making this [...]