Bank Statement Loan Pricer
Qualify using personal or business bank statements instead of tax returns. Designed for self-employed borrowers, business owners, freelancers, and anyone whose tax returns don't reflect their true earning power. Select your statement period below and see rates from hundreds of lenders instantly.
Bank Statement Loan Facts
- Qualify using bank statements instead of tax returns or W-2s
- Ideal for self-employed borrowers, business owners, and freelancers
- Personal or business bank statements accepted (1-24 months)
- No tax returns or income verification required
- Available for primary residence, second home, or investment property
- Minimum credit score typically 660-680; best rates at 720+
- Down payment as low as 10% for primary residence
- Rates are higher than conventional but offer flexibility for non-traditional income
How bank statement qualifying works
1
Pick the account
12 or 24 months of personal or business statements. 24-month programs usually price better; 12-month programs qualify faster-growing income.
2
Deposits become income
Business accounts get an expense factor (often 50%, lower with a CPA letter showing real margins). Personal accounts generally count eligible deposits fully.
3
Everything else is normal
Credit, appraisal, assets, and reserves work like any mortgage. Only the income documentation changes.
Common questions
How does a bank statement loan work?+
Instead of tax returns and W-2s, the lender calculates your qualifying income from 12 or 24 months of bank statement deposits. For business accounts, an expense factor (commonly 50%, lower with a CPA letter or P&L showing actual margins) is applied to deposits to estimate net income. For personal accounts, eligible deposits typically count at or near 100%. You still need credit, assets, and an appraisal like any mortgage - only the income documentation changes.
Who is a bank statement loan for?+
Self-employed borrowers, business owners, freelancers, gig workers, and anyone who writes off enough expenses that their tax returns understate their real cash flow. If your Schedule C or K-1 income looks small because your CPA does their job well, bank statement qualifying often approves what conventional underwriting declines.
What credit score and down payment do bank statement loans require?+
Programs commonly start in the 620-640 FICO range, with the best pricing above 720-740. Down payments typically start at 10% for the strongest profiles, with 15-20% more common at moderate credit scores or higher loan amounts. Requirements vary meaningfully across programs, which is why we price the same scenario against multiple lenders.
Are bank statement loan rates higher than conventional rates?+
Yes, typically by roughly 0.5% to 1.5% depending on credit score, down payment, and documentation depth (24-month statements usually price better than 12-month). The no-discount-points rate you see in the pricer above reflects live wholesale pricing across many lenders, so you can see the real spread for your scenario rather than a rule of thumb.
Do I need to be self-employed for two years to qualify?+
Most programs want two years of self-employment history, but some accept one year with a prior W-2 history in the same field. Business licenses, CPA letters, or invoices can document the history.
Can I use both personal and business bank statements?+
You choose one account type for qualifying. Business statements get an expense factor applied; personal statements generally count eligible deposits fully but require you to show the business exists separately. Which one qualifies you for more depends on how money flows through your accounts - we run both ways when it is close.
Is a bank statement loan a qualified mortgage (QM)?+
No, bank statement loans are non-QM. That does not mean subprime: these loans still verify income (via statements), assets, and credit, and non-QM credit performance since 2018 has remained strong. Non-QM lending is one of the fastest-growing parts of the mortgage market, on pace for record volume in 2026, precisely because so many creditworthy borrowers are self-employed.
Asset Qualifying Loans
Qualify using liquid assets - ideal for retirees
1099 Income Loans
Qualify using 1099 forms - for contractors and gig workers
Rates shown are the no-discount-points options for the scenario entered and change throughout the day. Program requirements vary by lender and are subject to underwriting. Not a commitment to lend. Jennifer Kirby, NMLS# 2672337. Powered by Loan Factory Inc, NMLS# 320841.