375+ Reviews from
Bank Statement Home Loans: No Tax Returns Required
- Qualify using 12–24 months of bank statements, no tax returns required
- Compare rates from 100+ lenders based on your income scenario, and close
- No impact on credit
- Takes 1 min
Is a bank statement loan a good choice for me?
Bank statement loans are designed for self-employed borrowers whose tax returns don’t reflect their real income.
A bank statement loan may be a good fit if you:
- are self-employed or own a business
- have strong cash flow but significant tax write-offs
- cannot qualify using traditional W-2 or tax return documentation
- want to qualify based on deposits instead of reported income
- are comparing bank statement vs. 1099 or conventional loans
- need a more flexible path to qualifying
How Bank Statement Loans Work
Bank statement loans fall under non-QM (non-qualified mortgage) guidelines.
Instead of using tax returns, lenders analyze your bank deposits to estimate income.
Depending on the program, lenders may:
- review 12 or 24 months of bank statements
- use personal or business bank accounts
- apply an expense factor (for business accounts) to estimate net income
- evaluate consistency and stability of deposits
Personal vs. Business Bank Statements
Bank statement loans are flexible, but approval depends on the strength of your full financial profile.
Other lenders/Banks
Other
Lenders shopped
100+
Limited to 1
Non QM Loans
Yes
Limited
Minimum credit score
550
640+
DTI Requirements
55%
43%
Fast-track Underwriting
Yes
No
Approval Rate
93%
Lower
Closing time
7-21 days
30 days
Dedicated Loan Officer
Yes
No
Availability
24/7
Limited
Average response time
<1hour
<1 day
Today's live rates
See live lender rates from 100+ wholesale lenders. Customize your details to see your best available options today.
375+ Reviews from
Client Reviews: 30 Years of 5-Star Mortgage Service
For over 30 years, we’ve helped self-employed borrowers with complex or multiple income sources qualify with ease.
Frequently asked questions
What is a bank statement loan?
A bank statement loan is a type of non-QM mortgage that allows self-employed borrowers to qualify using bank deposits instead of tax returns.
Do bank statement loans require tax returns?
In many cases, no. Most programs allow qualification using only bank statements, although some lenders may request additional documentation depending on the file.
How is income calculated on a bank statement loan?
Lenders analyze monthly deposits. For business accounts, they often apply an expense factor (commonly 25%–50%) to estimate usable income.
How much down payment do you need?
Typically 10–20% down, depending on credit score, income consistency, and overall loan strength.
What credit score is required?
Many programs start around 600–620, with better pricing for higher scores.
Are bank statement loans more expensive?
They can have slightly higher rates than conventional loans due to flexibility, but they allow qualification when traditional methods don’t work.
Can you use bank statement loans for investment properties?
Yes, in some cases. Eligibility depends on the lender, down payment, and overall borrower profile.
Is a bank statement loan better than a 1099 loan?
It depends. Bank statement loans work better when income flows through accounts, while 1099 loans work better when income is clearly documented through 1099 forms.
Start Your Pre Approval
Start your pre-approval to view instant live rates and review the right mortgage path with a loan officer.
- No impact on credit
- Takes 1 min
- No docs needed
