Bank Statement Loan Program

What are bank statement loans?

It's common for borrowers to verify their income using tax returns and W-2s. But not all borrowers can prove their income and assets this way. A bank statement loan allows self-employed borrowers, small business owners, entrepreneurs, and freelancers to obtain a mortgage without traditional documentation. And believe it or not, the application process is easier than you think.

Self-employed mortgage requirements

• Credit scores of 600+
• Maximum debt-to-income ratio (DTI) of 50%
• Employment verification from clients or a CPA
• Two years of personal income tax returns
• Two years of business tax returns including schedules K-1, 1120, and 1120S
• Business license
• Bank statements showing you have access to sufficient funds
• Balance sheet
• Year-to-date profit and loss statement (P&L)

Bank statement loan benefits

• Finance owner-occupied homes, second homes & investment properties
• Borrow up to 80% of the home's value; up to 90% with proper reserves and credit
• No tax returns required
• No paying private mortgage insurance (PMI)

Here's how it works:

• Call, text, or chat with a salary-based mortgage consultant
• Must be in business for two or more years
• Provide documentation such as:
  • Your business license
  • 12 months of personal and 24 months of business bank statements
  • Expense ratio
  • Signed CPA letter stating you are still in business
• Receive your custom, low rate home loan

Get started with a bank statement mortgage loan

Affordable loans with easy qualifications and flexible down payments are possible. Let our self-employed mortgage guide teach you more about what to expect.

Or better yet, contact one of our salary-based mortgage consultants to learn more about custom loan options that make sense for you. We're even open nights and weekends to fit your schedule.

Call (800) 910-4055 or schedule an appointment to get started.