Everything You Need to Know About Bank Statement Loans
The perfect mortgage solution for self-employed homebuyers!

Q1: What is a Bank Statement Loan?

A Bank Statement Loan is a type of mortgage designed for self-employed borrowers. Instead of traditional income verification like tax returns, you can qualify by providing 12-24 months of personal or business bank statements.

Q2: Who is eligible for a Bank Statement Loan?

Self-employed individuals with at least 25% business ownership are eligible. Non-self-employed co-borrowers can also qualify if one borrower meets the requirements.

Q3: What’s the minimum down payment?

Down payments typically range from 10% to 20%, depending on the loan product, credit score, and income.

Q4: What are the associated costs?

Expect closing costs (2%-5% of the loan amount), slightly higher interest rates, and possible reserve requirements of 3-12 months of mortgage payments.

Q5: What property types are eligible?

You can finance primary residences, second homes, and investment properties (1-4 units). However, manufactured homes, co-ops, and raw land are ineligible.

Q6: How much can I borrow with a Bank Statement Loan?

Loan amounts go up to $3.5 million, depending on the specific product and qualifications.

Q7: What are the benefits of Bank Statement Loans?

  • No tax returns or W-2s required
  • Flexible income calculation
  • Ideal for entrepreneurs, freelancers, and business owners
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Bank Statement Loans for Self-Employed Borrowers

Flexible Home Financing Without Tax Returns

Are you self-employed and looking for a mortgage solution that fits your income structure? Our Bank Statement Loan Program is designed for self-employed borrowers, entrepreneurs, and business owners who may not qualify for traditional mortgages due to complex tax returns. Instead of W-2s or tax transcripts, you can qualify using 12-24 months of personal or business bank statements to verify income.

Why Choose a Bank Statement Loan?

✔ No Tax Returns Required – Qualify using bank deposits instead of tax documents.
✔ High Loan Amounts – Borrow up to $3.5 million based on your financial profile.
✔ Low Down Payment Options – As low as 10% down, depending on credit score and loan amount.
✔ Flexible Property Types – Finance primary residences, second homes, and investment properties (1-4 units).
✔ Higher DTI Ratios Allowed – Get approved with DTI up to 55% based on your loan program.

Bank Statement Loan Requirements

  • Self-Employment: At least one borrower must be self-employed for a minimum of two years and own at least 25% of the business.
  • Income Documentation: Provide 12-24 months of bank statements from the same account. No comingling of personal and business deposits for personal bank statements.
  • Credit Score: Minimum 620-660, depending on the program.
  • Loan-to-Value (LTV) Ratio: Borrow up to 90% LTV with a competitive interest rate.
  • Reserve Requirements: Varies based on loan amount, property type, and credit profile.

Bank Statement Loan Programs

Bank Statement 30-Year Fixed – Yellow

  • Max Loan Amount: $3,000,000
  • Max LTV: 90%
  • Min FICO: 620
  • Max DTI: 50%

Bank Statement 30-Year Fixed – Orange

  • Max Loan Amount: $3,500,000
  • Max LTV: 90%
  • Min FICO: 660
  • Max DTI: 55%

Bank Statement 30-Year Fixed – Pink

  • Max Loan Amount: $3,000,000
  • Max LTV: 85%
  • Min FICO: 660
  • Max DTI: 50%

Bank Statement 30-Year Fixed – Blue

  • Max Loan Amount: $2,000,000
  • Max LTV: 80%
  • Min FICO: 660
  • Max DTI: 50%

Is a Bank Statement Loan Right for You?

If you’re an entrepreneur, freelancer, or small business owner struggling to get approved for a traditional mortgage, a Bank Statement Loan could be the perfect solution. With flexible qualification guidelines, competitive rates, and higher loan limits, you can achieve your homeownership or real estate investment goals without the hassle of traditional income verification.

Get started today! Contact Jhenesis Mortgage to see if you qualify.

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