Bank Statement Loan

Is a Bank Statement Mortgage Right for You?

A bank statement mortgage lets you qualify for a home loan using your bank statements instead of traditional income docs like tax returns or pay stubs. These are often known as stated-income or self-employed mortgages.

Who Is a Bank Statement Mortgage Best For?

• Self-Employed Borrowers
  Ideal for freelancers, entrepreneurs, and business owners with variable or hard-to-document income.
• Seasonal or Irregular Income Earners
  Great for workers whose income fluctuates throughout the year.
• Investment Property Buyers
  Helpful for investors who rely on rental income or mixed cash-flow sources.

Benefits of a Bank Statement Mortgage

• Flexible Income Verification
  Qualify using bank statements instead of tax returns or pay stubs.
• Faster Approvals
  Fewer documentation requirements can mean a quicker path to approval.
• Potential for Higher Loan Amounts
  Some programs allow borrowers to qualify for larger loans based on overall cash flow.
• Tax-Friendly for the Self-Employed
  Reduces the pressure of showing high taxable income since tax returns aren’t the primary qualifier.

A Few Things to Keep in Mind

• These loans may come with higher interest rates or larger down payments because of their flexible verification.
• Expect to provide multiple months of bank statements and basic financial documentation to show repayment ability.