Bank Statement
Loans
Perfect for self-employed borrowers and business owners. Qualify using 12-24 months of bank statements instead of traditional income documentation.
What are Bank Statement Loans?
Bank statement loans are Non-QM (Non-Qualified Mortgage) loans that allow borrowers to qualify using bank statements instead of traditional income documentation like W-2s, tax returns, or pay stubs. Lenders analyze 12-24 months of personal or business bank statements to determine income.
This loan program is ideal for self-employed individuals, business owners, freelancers, and anyone with non-traditional income sources who may have difficulty qualifying for conventional loans despite having strong cash flow.
Who Benefits from Bank Statement Loans?
Self-Employed Professionals
- Consultants and freelancers
- Independent contractors
- Real estate agents
- Commission-based workers
Business Owners
- Small business owners
- Entrepreneurs
- Partnership owners
- LLC members
Complex Income Sources
- Multiple income streams
- Seasonal businesses
- Cash-heavy businesses
- Investment income focus
How Bank Statement Loan Qualification Works
Provide Bank Statements
Submit 12-24 months of personal or business bank statements showing deposits.
Income Calculation
Lender calculates average monthly deposits, minus business expenses if applicable.
Debt-to-Income Review
Calculate DTI ratio using qualified income from bank statement analysis.
Loan Approval
Receive loan approval based on your verified cash flow and credit profile.
Program Details & Requirements
Typical Requirements
- 12-24 months of bank statements
- Credit score 620+ (varies by lender)
- Down payment typically 10-20%
- Primary residence, second home, or investment
- Cash reserves recommended
Key Benefits
- No tax returns needed
- Competitive interest rates
- Use personal or business statements
- Loan amounts up to $3 million+
- Faster approval than traditional loans