1. Borrower and business
Share the business type, ownership, operating history, account structure, and how revenue moves through personal or business accounts.
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Bank Statement Loans
Use eligible personal or business bank statements to document self-employment income for a mortgage review. Available methods and terms depend on the borrower, property, occupancy, transaction, state, and current program guidelines.
Eligibility and terms vary by transaction, property, occupancy, borrower, state, and current program guidelines. Final underwriting and approved documents control.
Loan overview
Bank statement loan details
Use this summary to understand how theLender reviews a bank statement mortgage scenario. Current approved program materials and final underwriting determine the available method and terms.
| Program feature | Current guidance |
|---|---|
| Loan amount | $100,000 to $4 million |
| Down payment | As low as 10% for qualifying purchase scenarios |
| Loan purposes | Purchase, rate-and-term refinance, and cash-out refinance |
| Occupancy | Primary residence, second home, and investment property |
| Statements | 12 or 24 months of personal or business bank statements |
| Income review | Personal statements use qualifying deposits. Business statements use qualifying deposits after the applicable expense factor. |
| Underwriting review | Credit, property, assets, reserves, appraisal, title, and insurance |
| Rates and terms | Based on the complete borrower, property, and loan scenario. Request a current quote. |
Eligibility and terms vary by transaction, property, borrower, state, and current program guidelines. Final underwriting and approved documents control.
How bank statement loans work
A bank statement loan may document eligible self-employment income through deposits shown on qualifying personal or business accounts. Underwriting reviews deposit consistency, identifies transfers and other ineligible funds, and applies the expense treatment required by the current method. The selected approach depends on how the business operates, which accounts receive revenue, the available records, and the full borrower and property scenario.
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Personal and business statement methods
Eligible personal-statement methods generally review qualifying deposits received in personal accounts. Eligible business-statement methods review business-account deposits and apply an expense analysis under current guidelines. Either approach may use 12 or 24 months of consecutive statements. Account ownership, business activity, transfer patterns, unusual deposits, statement completeness, and supporting expense records can affect the calculation. The available method, expense treatment, documentation period, and resulting qualifying income vary by borrower circumstances and current program guidelines.
Scenario review
What to prepare for a bank statement loan review
A complete scenario helps the team identify the applicable statement method and the records underwriting will need.
2. Statements and deposits
Provide complete consecutive statements for the accounts under review and be ready to identify transfers, non-business deposits, and unusual activity.
3. Property and transaction
Provide the occupancy, property type, purchase price or estimated value, loan purpose, requested amount, assets, and available funds for the transaction.
Ready for a scenario-specific review?
Send the basics and discuss current eligibility, documentation methods, terms, and pricing with theLender.
Get an Estimate
Share the borrower, business, property, transaction, and requested loan details for a current review. A member of theLender team can discuss available documentation methods and terms. This is not an approval, commitment, closing-time guarantee, or rate quote.
Bank Statement Loans
Answer a few questions and submit the form for a scenario review.
Frequently Asked Questions
1. What is a bank statement loan?
A bank statement loan may use eligible personal or business bank statements to document self-employment income instead of relying only on traditional tax-return calculations. The available method and required records vary by borrower circumstances and current program guidelines.
2. Can personal or business bank statements be used?
Eligible methods may review 12 or 24 months of personal or business statements. Personal-statement methods evaluate qualifying deposits received in personal accounts. Business-statement methods apply the expense analysis required by current guidelines. Account use, business activity, supporting records, and borrower circumstances determine the available approach.
3. How is qualifying income calculated?
Underwriting reviews eligible deposits, removes transfers and other ineligible funds, and applies the expense treatment required for the selected method. The exact calculation depends on current guidelines, statement type, business activity, account use, and supporting documentation.
4. How do bank statement loan rates compare with conventional financing?
Pricing differs from conventional financing and changes with current markets and scenario details. Credit, occupancy, property, transaction, documentation method, loan amount, and requested structure can affect available pricing. Request a current scenario-specific quote.
5. How long does a bank statement loan take to close?
Closing timing depends on complete borrower records, statement analysis, appraisal, title, insurance, underwriting conditions, and responsive document delivery. No closing date or turn time is guaranteed. Ask the team for a current scenario review and required-document checklist.