Mortgage Rates are Down!
Bank Statement Loan
A Bank Statement Loan is a mortgage option for self-employed borrowers who don’t have traditional W-2s or tax returns to verify income. Instead of standard income documentation, lenders review personal or business bank deposits to assess financial stability. This loan is ideal for business owners, freelancers, independent contractors, and gig workers with non-traditional income streams. With flexible qualification requirements and no need for extensive tax paperwork, a bank statement loan makes homeownership more accessible for self-employed professionals. If you have strong bank deposits and need a mortgage without tax returns, this program could be the perfect fit.
A Reliable Home Loan You Can Trust.
No Tax Returns Required
Qualification is based on bank statements, not traditional W-2s or tax filings.
Ideal for Self-Employed Borrowers
Tailored for individuals with non-traditional income streams.
Flexible Property Options
Can be used to finance primary homes or second homes.
Custom Loan Terms
Options for fixed or adjustable-rate mortgages with varying down payment requirements.
Loan Guidelines
If your details are near these guidelines, we encourage you to apply or reach out. Even if you don’t qualify for a 30-year fixed-rate mortgage, we may have other options available.
The Home
Purchase a new home or refinance your current mortgage.
Credit Profile
A credit score above 620 is typically required.
Debt-to-Income
Your debt-to-income ratio (DTI) should be under 50%.
Closing Costs
Along with your down payment, you’ll need sufficient funds to cover closing costs.
Explore Your Potential
Our calculators help you understand and visualize your options
Mortgage Calculator
Planning to buy a home? Calculate your estimated monthly payments, including taxes and insurance.
Refinance Calculator
Considering refinancing your mortgage? Find out how much you could save.
Frequently Asked Questions
Have questions? We’ve got answers! Explore our FAQ section to find helpful information about loans, refinancing, and more. If you don’t see what you’re looking for, feel free to contact us—we’re here to help!
Who are Bank Statement loan best for?
Bank Statement Loans are ideal for self-employed individuals, freelancers, gig workers, or business owners who may not have traditional income documentation but can demonstrate financial stability through consistent bank deposits.
How do Bank Statement loan work?
Instead of using W-2s or tax returns to verify income, lenders review 12–24 months of bank statements to assess cash flow and determine eligibility. Borrowers typically need to provide personal or business bank statements showing regular deposits that align with their ability to repay the loan.
What are pros and cons of a Bank Statement loan?
Pros:
- Alternative income verification for self-employed borrowers.
- Flexibility in qualifying for a mortgage without traditional income documentation.
- Can be used for primary residences or vacation homes.
Cons:
- Higher interest rates compared to conventional loans.
- Larger down payment requirements.
- Stricter qualification standards for credit scores and reserves.
Do Bank Statement Loans require a specific credit score?
Yes, lenders usually require a credit score of 620 or higher, though exact requirements may vary. A higher credit score can help secure better terms.