Bank Statement Loan
Qualify using 12–24 months of personal or business bank statements instead of tax returns. Designed for self‑employed borrowers.
10%+ (varies) downFlexible credit
Program Details
Minimum Down10%+ (varies)
Credit ScoreFlexible (self‑employed)
DTI RatioVaries by investor
PMI/MIPNo PMI; pricing varies by investor.
Rate CapsProgram‑specific (LTV/loan amount vary).
Loan LimitsNon‑Qualified Mortgage using 12–24 months statements instead of tax returns.
Key Benefits
- Qualify via deposits
- Broader eligibility for entrepreneurs
Program Tags
non-qmself-employed
Who It's Best For
- Self‑employed and 1099 earners
- Business owners with strong deposits
- Alternative documentation
Advantages
- No tax returns required
- Flexible income calculation for self‑employed
- Potential interest‑only options
Considerations
- •Higher rates and fees than agency loans
- •Requires strong, consistent deposits
- •Investor guidelines vary
Eligibility Requirements
- 12–24 months personal or business bank statements
- Self‑employed/1099 income
- Primary, second home, and some investment options
Additional Requirements
- Consistent deposits; large transfers documented
- Business license/CPA letter may be required
- Reserves; LTV/DTI caps vary by profile
Pro Tips
- Using business statements applies an expense factor (e.g., 35%–50%)
- Higher down payments can improve pricing and flexibility
- Ask about interest‑only options if cash‑flow is key
Also Known As
Non‑QMBank statements
Most investors offer 12 or 24 months programs; options vary.
Yes. An expense factor is applied unless CPA-prepared P&L is provided.
Calculate Your Payment
Use our interactive calculators to estimate your monthly payment and see how much you could save.
Payment Example
Loan amount
$475,000
Est. P&I
$3,160/mo
Estimate only. Taxes, insurance, HOA, MI/MIP, and points/credits not included. Not a commitment to lend.
Scenario Snapshot
Down payment
$60,000
Loan amount
$540,000
Typical Documents
- Last 30 days of pay stubs or income docs
- Last 2 years W-2s or 1099s (as applicable)
- Most recent 2 months of bank statements
- Government-issued ID
- Alternative income docs (e.g., bank statements)
Exact items vary by program and scenario.
Loan Limits (Estimate)
Use your ZIP to check your state and review baseline limits. County limits may be higher.
Enter a ZIP to detect your state. County-specific limits vary.
Conforming baseline (1‑unit)$766,550
FHA floor (1‑unit)$498,257
FHA ceiling (1‑unit)$1,149,825
Actual county/metro limits vary. See official resources at FHFA and HUD.
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