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Bank Statement Loan

The loan solution for self-employed borrowers who would rather show bank statements than tax returns.

Call us 855-921-4921 

Key Features

No tax returns required

Borrow up to $1,000,000

Great option for self-employed borrowers



NASB wins three NerdWallet 2021 Best-of Awards

NASB Best Mortgage Lender VA 
 NASB Best Mortgage Lender Overall
NASB Best Mortgage Lender First Time Home Buyer
 

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

When you're self-employed, you don't have the luxury of being able to provide pay stubs or show net income on tax returns when you're trying to secure a mortgage loan. Not having these required documents can make getting approved difficult, even if you have good credit. Our Bank Statement Loan program allows self-employed borrowers to seek a home loan without showing net income on taxes or pay stubs. We look at your income over 12 months using bank statements, and if you meet our criteria, you can get a mortgage loan with a competitive rate.

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Bank Statement Loan Requirements

  • Must provide 12 months of consecutive bank statements from the same account
  • 20% down payment required, or 10% with mortgage insurance
  • 45% maximum debt-to-income ratio
  • $1,000,000 maximum loan amount, $200,000 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.



Bank Statement Loan FAQs

To apply for a conventional mortgage loan, borrowers usually must provide pay stubs and W-2's from the past two years of employment. But if you are self-employed or own your own business, you don't have W-2's or pay stubs. A bank statement loan requires only the bank statements of self-employed borrowers to determine if they can produce sufficient income to warrant approval for a mortgage loan.  Here’s a blog that can explain more.

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.

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.

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

Like a traditional mortgage loan, you must maintain a good credit score to be approved for a bank statement loan.


  • Get the most up-to-date rates available
  • For purchase or refinance, all loan types
  • 15-year and 30-year term options
  • A variety of mortgage payment calculations
  • Learn which loan is better for you
  • Help to make term and loan type decisions
What Our Customers Say
Mohit M., May 25, 2021
★★★★★ (5)

"NASB always makes it easy and transparent to work with them. I know upfront what to expect - they're clear in their communication and keep their word. This was my third interaction with them and it's a fantastic experience working with the NASB team."

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