If you are applying for a home loan through the traditional process, you can expect most banks to ask you at some point for a W-2.
While it is a simple matter for regular employees to produce this document, it is impossible if you have a different income situation and do not have a W-2.
At First Savings Bank, we do not require a W-2 if you use our bank statement application process when you apply for a mortgage. This can also be referred to as applying for a “stated income loan” in Kentucky.
If your W-2 or tax returns do not convey everything about your income, applying for a bank statement loan allows you to prove your full income in a different way.
We recommend bank statement loans for those who are:
If you think that the bank statement loan process may be right for you, but you are not sure, you can give us a call and ask.
Here are a few reasons to consider applying for a bank statement mortgage:
You do not need to turn in forms you do not have. No W-2, tax returns or pay stubs are necessary.
Because the documentation requirements for a bank statement loan are less intensive, it is faster and easier to apply for.
We work with many customers who are self-employed or who otherwise do not qualify as traditional employees. We do not judge your income situation as riskier than employment. We let your bank statements speak for themselves.
What Our Clients Are Saying
The way you earn your money and how you are classified should not stand in your way when you apply for a mortgage in Louisville or anywhere in Kentucky. And when you work with First Savings Bank, it doesn’t have to. Please call 502-238-9655 to schedule your consultation and apply for a bank statement loan now.
First Savings Bank Louisville is located on 295 N Hubbards Ln #302, Louisville. From Louisville International Airport (SDF) head southwest on Terminal Dr and take the ramp onto I-264 E. Then use the right 2 lanes to take exit 21 for KY-1447 W and use any lane to turn left onto KY-1447/Westport Rd. Finally, turn left onto Castleview Dr, turn right and First Savings Bank Louisville will be on your left.
Monday through Friday 8:30AM–5PM.
For additional questions you can call us at (502) 238-9655 or you can find us on Superpages.
First Savings Bank Louisville NMLS ID: 411341 is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.
Amid global concern about COVID-19, we will continue to be here for our customers.
As people and companies all across the country take additional preparations to protect against the Coronavirus (COVID-19), we acknowledge that your mortgage concerns will likely not be taking a break. At this time, we will remain open full-time and will continue to service our customers with the same fast response times you’ve come to expect from us.
Due to the increasing number of reported cases in the U.S., we are continuously monitoring the situation. We will also continue to actively assess the necessary actions we need to take in order to ensure the health and safety of our customers, employees, and their families. We hope that you will join us in taking some basic and important measures, such as frequent hand washing, to keep communal risk low.