Bank Statement Loans
Simplify your home financing with a self-employment-friendly loan and a quick approval process.
Get a quoteBenefits
- Qualify based on bank statements rather than traditional income documentation.
- Ideal for self-employed individuals with variable income or non-traditional employment.
- Use personal or business bank statements to demonstrate income and qualify for a mortgage.
- Expedited underwriting process compared to traditional mortgage loans.
- Tailored loan programs to meet the unique needs of self-employed borrowers.
Eligibility requirements
- Self-Employment: Borrowers must be self-employed or have income from other non-traditional sources.
- Bank Statements: Lenders review 12-24 months of personal or business bank statements to assess income stability.
- Credit History: While credit requirements vary, borrowers must demonstrate a history of responsible credit management.
- Debt-to-Income Ratio: Lenders evaluate DTI ratios to ensure borrowers can afford the mortgage payments.
- Reserves: Some lenders may require reserves to cover several months' worth of mortgage payments.
Example
Meet Savannah
Savannah, a freelance graphic designer, chooses a bank statement loan to purchase her first home. With fluctuating income from various clients, she appreciates the flexibility and simplified documentation process offered by this loan type.
How can we help you today?
Get pre-approved
See how much you can afford and shop for homes with confidence.
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