Mortgage Programs

Bank Statements Loans

A Bank Statement loan is a home loan program designed for self-employed/ business owners. Some lenders allow w2 borrowers to qualify. For qualification purposes, the lender uses the deposits made into the business owner’s account as the source of income for qualification purposes, instead of using the applicant’s tax returns

The primary difference between these loan types is that the applicant qualifies based on the deposit income in the bank statements, rather than the applicant’s tax returns.

A bank statement mortgage is a type of mortgage loan that is designed for self-employed individuals or small business owners who have difficulty qualifying for a traditional mortgage due to their lack of regular income documentation. Instead of relying on W-2s or tax returns, the lender uses the borrower's bank statements to verify their income and ability to repay the loan.

To qualify for a bank statement mortgage, borrowers typically need to provide several months' worth of bank statements that show consistent cash flow and a steady source of income. The lender may also require other documentation, such as business licenses or contracts, to verify the borrower's income and employment status.

The interest rates and fees for bank statement mortgages may be higher than traditional mortgages, as they are considered higher risk loans. However, they can be a good option for self-employed individuals who have a fluctuating income or irregular cash flow.

It's important to note that bank statement mortgages are not widely available and may only be offered by select lenders. and work with a reputable lender who has experience working with self-employed borrowers.

  • This program allows personal or business bank statements to calculate income without requiring tax returns.
  • Loans from $150,000 to $3 million
  • Two years seasoning required for foreclosure, short sale, bankruptcy or deed-in-lieu
  • Available for purchase, cash-out or rate-term refinance
  • Primary, second home, or investment properties
  • Single family, townhomes, or condos
  • 12 or 24 months business or personal bank statement submissions
  • 1099 income option available
  • Non-warrantable condos allowed
  • Two years of self-employment required
  • 40 year fixed interest-only available*

Contact Me

Send a Message

I will get back to you shortly

I represent clients who authorize me to do so. I do not work for or represent the interest of any mortgage lender or other duly authorized entity to whom I may submit a mortgage application on behalf of a Client. My services are provided in a Mortgage Broker capacity and I am not authorized to approve or deny a mortgage loan request. NMLS 1691763 / NMLS 1322774