Bank Statement Loans

What is a Bank Statement Loan?

A bank statement program is a home loan program that uses bank statements to calculate a borrower’s income. This is an alternative documentation loan type instead of using tax returns and W-2s in the qualification process. These loans are for self-employed borrowers who typically have substantial tax write-offs that make it challenging to demonstrate the necessary income to prove their ability to repay the loan. The bank statement loan programs use either personal or business bank statements to qualify borrowers.

Bank Statement Loan Requirements

Business bank statements (12-24 months)
No tax returns required
Borrow up to 90% of the value of the home
Debt-to-income ratio up to 50%
Loans up to $3 million
For primary and secondary homes and investment properties

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