Bank Statement Loans

Overview

Bank statement loans are non-traditional mortgage products primarily designed for self-employed borrowers, freelancers, or business owners who may have difficulty proving consistent income through standard W-2s or tax returns. Instead, lenders use personal or business bank statements to verify income and ability to repay.

Why an Bank Statement Loan?

Bank Statement Loans can help self-employed individuals or business owners buy a home. These loans allow you to use personal or business bank statements for income verification instead of tax returns. A down payment of 15-20% is typically required, making it a great option for borrowers who can’t provide traditional documentation.

For self-employed Borrowers
No tax returns required for approval
15% to 20% down payments
Flexible loan options available
Terms of 15, 20, and 30 years

Lynette Williams

NMLS# 2351054

Branch Manager

Schedule a Phone Call With Me

323-990-7069
[email protected]

Apply Now

Who Qualifies?

Self-employed individuals, freelancers, consultants, or small business owners.
Borrowers with irregular income streams or complex tax write-offs that reduce their adjusted gross income on paper.
Typically, lenders require at least 12 to 24 months of consecutive bank statements to prove steady deposits.

Key Advantages

Flexible Income Documentation: Instead of relying on W-2s or extensive tax returns, borrowers provide bank statements as proof of cash flow.
Higher Loan Limits: Some lenders offer sizeable mortgage amounts, depending on the strength of your bank statements and credit profile.
Streamlined Application Process: With fewer standard document requirements, the process can be more straightforward for self-employed borrowers.

Lynette Williams

NMLS# 2351054

Branch Manager

323-990-7069

[email protected]

Apply Now

Example:

A freelance graphic designer who is a 1099 and has fluctuating monthly income could use 12 or 24 months of bank statements showing consistent deposits to qualify for a home loan, even if traditional taxes or W-2s don’t fully capture their actual earning power.