📄 WHAT IS A BANK STATEMENT LOAN?

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A Bank Statement Loan is a flexible mortgage option designed for borrowers who may not have traditional income documentation, such as W-2s or tax returns. It’s often a great fit for self-employed individuals, freelancers, gig workers, entrepreneurs, and small business owners.

✅ Important: A bank statement loan is not the same as a stated income or no-income loan. You will need to verify your income—just in a different way.
 

Instead of relying on tax documents, lenders calculate your income based on the deposits into your personal or business bank accounts. Most lenders will request 12 to 24 months of statements to determine your qualifying income.

Because bank statement loans fall under the Non-QM (non-qualified mortgage) or non-conforming category, guidelines and requirements vary by lender. But in general, here’s what you can expect:

• 12 or 24 months of business or personal bank statements
   
• A credit score as low as 620 (700+ for better rates and terms)
   
• A larger down payment than traditional loans—especially with lower credit scores
   
• Proof of self-employment or business ownership (usually 2+ years)
   
• ITIN borrowers and Foreign Nationals may also qualify
   

This loan type is ideal for:

• Small business owners
   
• Independent contractors and freelancers
   
• Realtors, consultants, and gig economy workers
   
• Borrowers with strong cash flow but complex tax filings
   
• Non-residents or ITIN borrowers looking to invest or live in the U.S.
   

If your income is solid but hard to document traditionally, a Bank Statement Loan could be your key to homeownership or investment property financing. It offers the flexibility to match your unique financial situation—without forcing you into a box.

📞 Want to learn more or see if you qualify? [Contact us today] to speak with a loan expert who understands your needs.