What best describes your employment?

A bank statement loan uses 12–24 months of personal or business bank statements to verify income instead of tax returns or W-2s. It’s designed for self-employed borrowers, freelancers, and business owners whose tax write-offs make their taxable income appear lower than actual earnings.

Most programs require either 12 or 24 months of consecutive statements. 12-month programs are more common and may qualify at slightly higher rates. Business bank statements and personal bank statements are evaluated differently — ask which your lender accepts.

Typical minimums range from 620–680, depending on the lender and LTV. The average bank statement borrower has a 737 FICO, reflecting the typically high-earning, self-employed demographic these loans serve.