Bank Statement Loans


Bank Statement Loans allow a self-employed borrower to use the average monthly deposits in his or her business and/or personal bank account – instead of traditional income sources such as pay stubs and tax returns – to demonstrate his or her ability to afford timely mortgage payments.  The program is ideal for self-employed borrowers who – due to substantial business write-offs – cannot qualify for a loan using tax returns for income verification.


Who Would Benefit from a Bank Statement Loan?

Bank Statement Loans are ideal for self-employed individuals and small business owners who cannot provide adequate income documentation in the forms of paystubs, W-2s and/or income tax returns but who can show sufficient deposits in their business and/or personal bank statements.


How It Works

With a Bank Statement Loan, your income is calculated by adding up all the deposits in your business and/or personal account for either a 12 or 24-month period, and then dividing the total by the same number of months.  Any transfers between accounts are not considered.  This method is very effective for business owners because it allows their income to be calculated based on gross deposits for the business rather than on profit or personal income.


Program Highlights

  • Max Loan Amount $650K
  • Min 680 credit score
  • Up to 75% LTV (with 720 credit score)
  • Cash-out to 60% LTV
  • Max DTI 55% (subject to income and other requirements)
  • Primary, second homes and investment properties
  • Gifts permitted (must conform to all Fannie Mae gift requirements after minimum down payment)


General Requirements

  • Business in operation for at least 24 months
  • Minimum of $100,000 in revenue per calendar year


As an example, a small business owner with 12 months’ bank statements showing a total of $240,000 in deposits would be able to use $20,000 as his or her qualifying income.


Our Commitment to You

  • Common Sense Underwriting With In-House Approvals
  • Quick Closing
  • Referrals Valued & Brokers Protected
  • Committed to the Highest Level of Customer Satisfaction


Getting Started

To help you determine if a Bank Statement Loan is right for you, please contact one of our licensed Loan Specialists by calling us directly at 844-574-LOAN (5626), by submitting the form on the right or by completing an application directly on our website.





Schedule a Loan Officer Consultation

To determine the right loan program with you, schedule some time with a loan officer to discuss your options. Call us at 844-574-5626 now or schedule a time to meet with a loan officer.

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