Bank Statement Loan

Bank statement loans can be a mortgage solution for self-employed borrowers by using bank statements to qualify instead of having to show tax returns or pay stubs.




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Bank Statement loan

Key Features

No tax returns required

As low as 10% down payment

Great option for self-employed borrowers


A Bank Statement Loan may be the solution for self-employed borrowers

A Bank statement loan is a non-qualified mortgage loan that allows self-employed borrowers to seek a home loan without showing net income on tax returns or pay stubs. We look at your non-traditional income over 12 months using bank statements, and if you meet our criteria, you can get a mortgage loan at a competitive rate.

Our bank statement loan program can be an excellent option for:
  • Small business owners
  • Independent contractors
  • Consultants
  • Realtors
  • Freelance employees
  • Entrepreneurs
  • Gig workers
  • Truckers
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Bank Statement Loan FAQs

Bank statement loans allow self-employed borrowers to apply for a home loan without having to provide pay stubs and W-2's from the past two years of employment.  Lenders look at the borrower's bank statements to determine if they can produce sufficient income to warrant approval for a mortgage loan.  Here's a blog that can explain more.
Interest rates for Bank Statement Loans are dependent on the borrowers’ credit score, income, down payment, and reserves. Call us today to obtain a rate quote based on your circumstances.

Like a traditional mortgage loan, you should maintain a good credit score (680 and up) to be approved for a bank statement loan.

With bank statement loans, the lender uses bank statements to analyze a borrower's income instead of using standard documentation. Lenders that offer bank statement loan programs will look at a borrower's bank over a 12 to 24 month time period to determine the borrower's net income, which is the amount of money earned after the borrower has paid taxes and business-related expenses.  Here’s a blog that helps explain this more.

NASB requires a minimum of two years of self-employment, 12 months of consecutive bank statements from the same account, up to 90% max LTV, and the borrower must have a 45% maximum debt-to-income ratio. The maximum loan amount is $1,250,000.

The qualifications for a bank statement loan may vary by lender. But in general, a borrower is required to have at least two years of self-employed income and business experience. Once a lender has determined income, they will decide the maximum loan amount allowed. This is based on the borrower’s debt-to-income ratio, a percentage of the monthly income that goes towards paying any debt they may have, including a mortgage.

A minimum loan amount of $175,000 is required to apply. Exceptions include mortgage products for properties located within the Greater Kansas City metro and surrounding areas. Contact a NASB Loan Officer for details on the excluded areas and/or zip codes.



Bank Statement Loan Requirements

  • Must provide 12 months of consecutive bank statements from the same account
  • 10% down payment required with mortgage insurance
  • Up to 90% max LTV
  • 680 minimum credit score
  • 45% maximum debt-to-income ratio
  • $1,250,000 maximum loan amount, $175,000 minimum*
  • Must escrow for taxes and insurance
  • Minimum of 2 years self-employment or 1099 contract work with exception can be made to 1 year self employed if same line of work prior



Video - What is a Bank Statement Loan

Watch this video to find out how self-employed workers can use bank statements to get a mortgage loan instead of tax returns or pay stubs


What Our Customers Say
Josh P., March 10, 2023
★★★★★ (5)

"Our NASB loan officer was very knowledgeable and helpful with our bank statement mortgage. It gave us the opportunity to purchase a home that other lenders have shied away from because we are both self employed."

$31 Billion in home loans

In the last decade based on lender data

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Based on lender data

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Based on closed loan customer surveys from 6/1/2022 to 5/30/2023

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*Minimum loan amount of $175,000 required to apply. Exceptions include mortgage products for properties located within the Greater Kansas City metro and surrounding areas. Contact a NASB Loan Officer for more details on the specific areas and/or zip codes excluded.