Loan Types

Bank Statement Loan

Qualify using bank deposits, not tax returns

Min. Down Payment

10-20%

Min. Credit Score

620+

Best For

Self-employed borrowers

Talk to a Loan Officer

What Is It?

Understanding the Bank Statement Loan

A bank statement loan is an alternative-documentation mortgage that qualifies borrowers using their personal or business bank statements, rather than tax returns. It's designed for business owners, freelancers, and contractors who write off significant expenses — and whose taxable income doesn't match their actual cash flow.

Lenders typically average 12 to 24 months of deposits to calculate qualifying income, giving self-employed borrowers a more accurate picture of what they can truly afford.

Key Benefits

Why Borrowers Choose This Program

No tax returns required

Qualify using deposit history instead of net income shown on your returns.

Reflects real cash flow

Write-offs and deductions that lower your taxable income won't hurt your approval.

Personal or business accounts

Use 12-24 months of either personal or business bank statements.

Primary, second & investment

Available across a range of property and occupancy types.

Who It's For

Business owners, freelancers, and 1099 contractors
Self-employed borrowers with strong deposits but lower taxable income
Anyone who owns 25%+ of a business and can't use standard W-2 documentation

Requirements to Qualify

12-24 months of personal or business bank statements
Typically 2+ years of self-employment history
Credit score generally 620 or higher
Down payment usually 10-20%
Business license or CPA letter confirming ownership, where applicable

Prosসুবিধা

No tax returns needed to qualify
Income reflects actual deposits, not write-offs
Works for a wide range of self-employment types
Available for purchase and refinance

Consঅসুবিধা

✕Typically requires a larger down payment than conventional
✕Rates can run slightly higher than fully-documented loans
✕Requires organized, consistent banking history

FAQs

Common Questions About Bank Statement Loans

Most programs require 12 to 24 months of statements — the exact number depends on the lender and your overall profile.

Yes. Many programs accept either, and some allow a blend of both with an expense factor applied to business accounts.

Most lenders want to see at least 2 years of self-employment, though some programs will consider 1 year with strong compensating factors.

Ready to Get Pre-Approved?

See if the Bank Statement Loan is the right fit for your situation — free, no-obligation consultation.

Bank Statement Loanব্যাংক স্টেটমেন্ট ঋণ

Understanding the Bank Statement Loanব্যাংক স্টেটমেন্ট ঋণ বোঝা

Why Borrowers Choose This Programকেন ঋণগ্রহীতারা এই প্রোগ্রাম বেছে নেন

Who It's Forকাদের জন্য উপযুক্ত

Requirements to Qualifyযোগ্য হওয়ার প্রয়োজনীয়তা