Using Bank Statements for qualifying mortgage income

Long gone are the days of stated income, and no documentation mortgage loans.

The rules were changed after the real estate crash, and these alternative and limited documentations loans went away. Current mortgage loan guidelines require all loan applicants to prove, document, and verify sufficient montly income to safely afford your home payment.

All your standard and traditional lmortgage programs deem this to be pay stubs, W2's, and tax returns.

The Self Employed Mortgage Curse

For many self employed, taking advantage of current tax code means you can possbilly show little to no traditional mortgage qualifying income.

Without enough income, no loan approval.

Non-Traditional Loan Options Return

Today, some of these non-traditional proof of income loans are returning to the market as lenders try feeling out what is the perfect balance of proving income the traditional way, and serving the needs of the self-employed.

Two Very Popular Bank Statement Options

  • 12 or 24 months of personal bank statements. 100% of all deposits are added up and used as qualifying mortgage income
  • 12 or 24 months of business bank statements. 50% of All deposits are added up and used as qualifying mortgage income. If there is more than one owner of the company, you only get you use your share. For example, if deposits equal $200,000, we use half ($100,000). If there are four owners, you would only be able to use $25,000 as your income.

More guidelines


  • Must be self employed at least 2-years
  • Proof of self employment will be required
  • Maximum loan-to-value based on credit score and more   
  • Smallest down payment is 15%
  • Rates higher than traditional loans, and vary based on credit score and down payment size
  • Fixed and adjustable loans
  • Getting Started is EASY


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