Bank Statement Loans: How Self-Employed Borrowers Can Qualify
Bank statement loans let self-employed borrowers qualify using bank statements instead of tax returns.
Frequently Asked Questions
Can I get a mortgage with bank statements instead of tax returns?
Yes. Bank statement loans are Non-QM programs that use 12–24 months of bank deposits to calculate qualifying income, ideal for self-employed borrowers.
What credit score do I need for a bank statement loan?
Most lenders require a minimum credit score of 620, though some programs accept lower scores with a larger down payment.
How much down payment do bank statement loans require?
Typically 10% to 20%, depending on your credit score, loan amount, and the specific lender program.
Related Programs
- FHA Loans — 3.5% down payment, credit scores from 580, ideal for first-time home buyers
- VA Loans — Zero down payment for veterans, active-duty military, and surviving spouses
- Conventional Loans — Fannie Mae and Freddie Mac, financing up to 97%, credit from 620
- Jumbo Loans — For properties exceeding 2026 conforming loan limits ($832,750 most counties)
- Non-QM Loans — Bank statement loans for self-employed, 1099 income, DSCR, and ITIN loans