Bank Statement

Bank statement loans are nontraditional loans or expanded criteria loans that allow other forms of documentation to prove the ability to repay. Just as it sounds, a bank statement loan allows the borrower to verify his or her income with bank statements.

Program Features

Qualify with monthly bank statements using an average of your total deposits

Must be a business owner or self-employed for at least two years

The lender can look at 12 or 24-month bank statements

Must have a credit score of 660 or above.

You can get a bank statement home loan for as little as 10 percent down

Loan amount between $150,000 and $3,000,000. *

First-time home buyers are allowed, restrictions may apply

Must have 12 or 24 months of Bank Statements

Typically, we will accept a debt-to-income ratio of a maximum of 50 percent. *

Up to 80% LTV

You can borrow up to $3 million. *

Applicants must own 25% or more of the business

Frequently Asked Questions

A Bank Statement loan is a home loan program designed for self-employed/ business owners. 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.

Bank Statement loans are not subprime loans. Instead, it is a secondary market loan program for Non-QM loans that qualifies the applicant’s income; however, it uses alternative ways to qualify the applicant. Many Non-QM programs like Bank Statement Loans, are designed around the lending needs of a certain market segment. Bank Statement Loans are designed for the unique lending needs of Self-employed/ business owners.

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.

Pre-Approval Wizard