Bank Statement Program
Bank Statement Loan Program
The Bank Statement Loan Program is designed for self-employed individuals, business owners, and independent contractors who may not qualify for traditional mortgages due to write-offs or non-traditional income documentation. Instead of using tax returns or W-2s, this program qualifies borrowers based on 12–24 months of bank statements, giving a more accurate picture of real cash flow.
Who Is This Program For?
This program is ideal if you: Are self-employed or own a business Receive income through 1099s. Have strong cash flow but significant tax deductions Own multiple businesses or have variable income Want to qualify based on actual deposits, not adjusted income. How It Works Qualifies income using personal or business bank statements Typically requires 12 or 24 months of statements No tax returns or W-2s required Income is calculated based on average monthly deposits
Key Benefits
Flexible income documentation Available for primary residences, second homes, and investment properties Higher loan amounts than many traditional programs Works well for entrepreneurs, consultants, and freelancers Can be used for purchases or refinances
What to Expect Bank Statement
Loans may have different rates and terms than conventional loans due to their flexible guidelines. However, they provide an excellent solution for borrowers who are financially strong but don’t fit traditional lending requirements.
