Bank Statement Loans
"Your deposits are your income proof."
Use 12-24 months of bank statements instead of tax returns. We calculate your income from actual deposits. Perfect for self-employed borrowers whose tax returns don't reflect their true earning power.
10%+
Min Down
620+
Min Credit
$3M
Max Loan
Is This Loan Right for You?
This Loan is Perfect If You...
- Self-employed, business owner, or freelancer
- Tax returns don't show your real income
- Consistent bank deposits over 12-24 months
- Have 10%+ for down payment
- Credit score 620 or higher
This Might NOT Be Right If...
- W-2 employee (conventional loan is better)
- Inconsistent or irregular deposits
- Less than 12 months of self-employment history
Bank Statement Loans Benefits
Everything you need to know about your benefits
No Tax Returns
Use bank statements instead of tax returns to prove your income
Deposits = Income
We count what you actually earn, not what your taxes show
Up to $3M
High loan amounts available for qualified borrowers
Personal OR Business
Use either account type - whatever shows your income best
12 or 24 Months
Choose your statement period based on your situation
Competitive Rates
Especially attractive rates with 24-month documentation
How It Works
Your path to homeownership in just a few simple steps
Gather Bank Statements
Collect 12 or 24 months of personal or business bank statements
Calculate Qualifying Income
We average your deposits and apply expense factors if needed
Apply Expense Factor
For business accounts, we typically use a 50% expense factor
Get Pre-Approved
Receive your pre-approval based on calculated qualifying income
Gather Bank Statements
Collect 12 or 24 months of personal or business bank statements
Calculate Qualifying Income
We average your deposits and apply expense factors if needed
Apply Expense Factor
For business accounts, we typically use a 50% expense factor
Get Pre-Approved
Receive your pre-approval based on calculated qualifying income
Shop With Confidence
Find your home knowing exactly what you qualify for
Close Your Loan
Complete your purchase with your bank statement loan
How We Calculate Your Income
We calculate your qualifying income differently depending on the account type
Personal Account
100% of deposits averaged
All deposits count toward your income
Business Account
Deposits × (1 - expense factor)
Expense factor accounts for business costs
Example: Business Account Calculation
24-Month Deposits
$720,000
Monthly Average
$30,000
Qualifying Income
$15,000/mo
12 vs 24 Month Comparison
Both options work—choose based on your situation and rate preferences
12-Month
Quick & Simple
Documentation
Fewer docs required
Interest Rate
Slightly higher rate
Best For
Newer businesses
✨ Best for newer businesses or when you need faster processing
24-Month
Best Value
Documentation
More docs required
Interest Rate
Better rate available
Best For
Established businesses
🏆 Best for established businesses seeking the lowest rates
Not sure which is right for you? Talk to a specialist and we'll help you decide.
Loan Details
Documentation Required
- 12 or 24 months bank statements (all pages)
- 2 months most recent statements
- Business license (if using business account)
- CPA letter (sometimes required)
- Photo ID
- Asset documentation
Eligible Property Types
- Single-family homes
- Condos and townhomes
- 2-4 unit properties
- Investment properties
Additional Info
- Personal OR business accounts accepted
- 50% expense factor typical for business
- Can combine multiple accounts
- No tax returns required
Bank Statement vs Traditional Loans
| Feature | Bank Statement(This loan) | Conventional |
|---|---|---|
| Income Proof | Bank deposits | Tax returns/W-2 |
| Best For | Self-employed | W-2 employees |
| Down Payment | 10%+ | 3%+ |
| Credit Score | 620+ | 620+ |
| Max Loan Amount | $3M | $766K conforming |
* Rates and terms subject to change. Contact us for current offers.
Frequently Asked Questions
Common questions about Bank Statement Loans
Last updated:
Do I need a CPA letter?
Not always. Some lenders require a CPA letter for business accounts to verify your business is active and in good standing. We'll let you know if one is needed for your specific situation.
Can I use both personal and business accounts?
Yes! You can combine personal and business accounts to show your full income picture. We'll use the appropriate calculation method for each account type.
What expense factor will be used?
Typically 50% for business accounts, meaning we count 50% of your deposits as qualifying income. Some industries may use different factors based on typical profit margins.
- Your most recent 2 months must be current (within 30-60 days). The remaining statements can go back 12-24 months from there.
- A few NSF fees or overdrafts won't automatically disqualify you. We look at the overall pattern of your account activity and the explanations you can provide.
- Different, not harder. If you're self-employed with good deposits but tax returns that don't reflect your true income, bank statement loans can actually be easier to qualify for than conventional loans.
Get Rate Drop Alerts
We'll notify you instantly when rates drop to your target.
See If Bank Statements Work for You
Get pre-qualified in 15 minutes
Or call us directly: (757) 558-2603