Bank Statement Mortgage Loan

The Bank Statement Loan Product is for borrowers whose incomes are less documented and have a more difficult time qualifying for a traditional home loan.

Bank Statement Mortgage Loan Guidelines

The Bank Statement Mortgage Loan has more specific requirements compared to other loan programs. Learn more below to see if you can use this option when purchasing a home.

2 Year Self-Employment Required

Need to have been in business for a minimum of 2 years.

+620 FICO

This program requires a minimum 620 FICO credit score.

50% Max DTI

Your debt-to-income ratio should be no more than 50%.

Overview of the Bank Statement Loan

The bank statement program allows self-employed borrowers the ability to qualify based on a 12 or 24 month average of deposits using their personal or business bank account. No tax returns are required to be eligible for this program.

Loans using this program can go all the way up to $3 million. The property purpose can vary from using it for owner-occupied, second homes and investment properties. The maximum Loan-to-Value ratio using the loan is 90% but also depends on your credit score.