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Bank Statement / DSCR / Profit & Loss

Bank Statement / DSCR / Profit & Loss

Secure home financing without traditional income documentation. A Bank Statement Mortgage allows self-employed individuals or business owners to qualify for home financing without traditional income documentation like W-2s or tax returns. Instead, lenders review 12–24 months of personal or business bank statements to verify income. This loan is ideal for those with non-traditional income and functions similarly to a conventional mortgage, with fixed monthly payments over a set term.

Why choose a Bank Statement Loan

  • No W-2s or tax returns required: Ideal for self-employed borrowers or business owners.

  • Flexible income verification: Lenders use 12–24 months of bank statements to assess income.

  • Fewer documents and more lenient guidelines to allow for streamlined closings.

  • Higher approval potential: Great for those with strong cash flow but complex tax filings.

  • Use personal or business accounts: Offers flexibility in how you prove your earnings.

  • Can finance primary, secondary, or investment properties: Not limited to just your home.

  • Similar structure to conventional loans: Fixed or adjustable rates with regular monthly payments.

How Bank statement loans work

  • Initial Consultation: Discuss your financial situation with the lender to determine if a bank statement loan fits your needs.

  • Submit Bank Statements: Provide 12–24 months of personal or business bank statements to verify your income.

  • Income Analysis: The lender reviews and averages your bank deposits to establish your qualifying income.

  • Loan Estimate & Terms Discussion: Review available loan options, interest rates, and monthly payment estimates tailored to your profile.

  • Appraisal Ordered: A professional appraisal confirms the value of the property you intend to purchase.

  • Title Search & Insurance Setup: The lender coordinates title verification and ensures homeowners insurance is in place.

  • Finalize Terms and Closing: Review and sign closing documents, pay any closing costs, and complete the loan funding process.