Bank Statement Loans
Get approved for a mortgage using bank statements instead of tax returns. Perfect for self-employed borrowers, business owners, and entrepreneurs who want to showcase their income through deposits rather than traditional documentation.
Bank Statement Loan Benefits
Self-Employed Friendly
Perfect for business owners and freelancers
Bank Statements Only
No tax returns or W-2s required
Competitive Rates
Great rates for qualified borrowers
Flexible Documentation
Alternative income verification methods
How Bank Statement Loans Work
Bank statement loans use your personal or business bank statements to verify income instead of traditional tax returns or W-2s. Lenders typically review 12-24 months of statements and calculate your average monthly deposits to determine your qualifying income.
This is particularly beneficial for self-employed borrowers who write off significant business expenses on their tax returns, resulting in lower reported income. Your bank statements show the actual cash flow of your business.
💡 Example: If your tax returns show $60,000 in income but your bank statements show $120,000 in deposits, a bank statement loan lets you qualify based on the higher amount.
Loan Requirements
- 12-24 months of personal or business bank statements
- Minimum credit score typically 620-680
- Down payment of 10-20% depending on loan amount
- Self-employed for at least 2 years
- Stable or increasing bank deposits
- Available for primary, secondary, and investment properties
Who Qualifies?
Ready to Explore Bank Statement Loans?
Our mortgage specialists can help you determine if a bank statement loan is right for you.