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Is Bank Statement Loans right for you?
This loan is designed for self-employed borrowers, business owners, and freelancers whose tax returns may not accurately reflect their true income. It’s a strong option if you have consistent cash flow shown through bank deposits but need a more flexible way to qualify.
Benefits of Bank Statement Loan
- Income calculated using 12–24 months of bank statements
- No tax returns required
- Flexible expense factor for business owners
- Higher loan potential than traditional documentation
- Designed for non-traditional income earners
Bank Statement Loan terms and eligibility requirements
- 12–24 months of personal or business bank statements required
- Credit score typically 620+
- Debt-to-income based on calculated cash flow
- Consistent deposits required
- Available for primary, second homes, and investment properties
