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Bank Statement Loans

Qualify Using 12–24 Months of Bank Deposits
Bank statement loans are designed for self-employed borrowers and business owners who may not qualify using traditional tax return documentation. Instead of W-2s, lenders review 12 to 24 months of personal or business bank statements to determine income.
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Self-Employed & Investors

A Practical Solution for Self-Employed Borrowers

Bank statement loans are designed for self-employed buyers whose tax returns do not reflect their true income.
Instead of relying on adjusted gross income, lenders review deposits made into personal or business bank accounts. This provides a more accurate picture of how entrepreneurs actually earn.

Scott has helped many business owners, contractors, and freelancers qualify through bank statement programs that match their real financial flow.

How Bank Statement Loans Work

A bank statement mortgage reviews 12 to 24 months of deposits. These deposits are used to calculate qualifying income based on the lender’s guidelines. This approach often allows self-employed borrowers to qualify for higher loan amounts than they would using tax returns alone.

Key factors lenders evaluate include:

  • Type of business
  • Average monthly revenue
  • Business expenses or expense factor
  • Personal and business account history

This method provides flexibility without sacrificing underwriting reliability.

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Who Bank Statement Loans Are Designed For

This loan option is often the best fit for:
  • Small business owners
  • Independent contractors
  • Freelancers
  • Gig workers
  • Realtors and commission-based earners
  • Borrowers with strong revenue but high tax write-offs
  • Borrowers who have been in business for at least two years
If your income is stable but your tax returns do not tell the full story, a bank statement loan may be the most accurate way to qualify.

Documents You May Need

The documentation process is straightforward and typically includes:

  • 12 to 24 months of personal or business bank statements
  • A business license or proof of business activity
  • Identification and standard borrower information
  • Optional accountant letter (depending on lender)

Most programs do not require tax returns.

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How Income Is Calculated

Lenders calculate qualifying income by averaging deposits based on the program:

For business accounts:

These loans review deposits into personal or business accounts. Instead of relying on tax returns, lenders use 12 to 24 months of bank statements to calculate qualifying income.

For personal accounts:

Deposits are reviewed more directly since business expenses have already been paid before funds reach the personal account.
This provides a fair and realistic view of what you actually earn.

Benefits of a Bank Statement Mortgage

Bank statement loans offer several advantages:

  • No tax returns required
  • Higher qualifying income for many self-employed borrowers
  • Flexible credit requirements
  • Competitive interest rates compared to other nontraditional programs
  • Available for primary homes, second homes, and investment properties
  • Works well for borrowers with multiple income sources

For many buyers, this program offers access to financing they cannot get through conventional guidelines.

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What to Expect During the Process

Scott walks each client through the steps needed for a smooth experience:
Initial conversation to understand your business and income flow
Review of bank statements to estimate qualifying income
Guidance on selecting the right program
Pre-approval based on bank statement analysis
Full underwriting review once under contract
Closing once final documentation is verified
Well-organized statements help the process move quickly.

Frequently Asked Questions

Down payment requirements vary by lender, but many programs allow standard down payment options.

Yes. Lenders can review either type. Some borrowers use a combination depending on the strength of each account.

Rates can be slightly higher than conventional loans, but the added flexibility often makes these programs more accessible for self-employed borrowers.

No. Strong credit helps, but many lenders offer flexible credit guidelines for bank statement borrowers.

See If a Bank Statement Loan Fits Your Income Profile

Start your bank statement loan review today.
If your income fluctuates or tax write-offs reduce your qualifying numbers, a bank statement mortgage may provide the flexibility you need. Scott will review your statements, explain your loan options, and help you determine how much you can qualify for.
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Self-Employed Jumbo & Luxury Investors About Reviews Contact
Scott Hastings, NMLS #926762
Arbor Financial, NMLS #236669
Licensed in NC, SC, FL, GA, VA, AR, IN, NH, MD, MT, NV
Equal Housing Lender. All loans subject to credit and property approval.
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