Who is a bank statement loan designed for?

Bank statement loans are designed for self-employed borrowers, freelancers, business owners, and gig workers who have strong revenue but lower taxable income due to business deductions. If your tax returns don’t reflect your true income, this product may be a better fit.

How many months of bank statements do I need?

Most programs require 12 or 24 months of consecutive bank statements. Using 24 months typically results in a more accurate income calculation and may qualify you for a larger loan amount.

Can I use business bank statements?

Yes. Business bank statements are accepted by most lenders. Your qualifying income is calculated as a percentage of deposits based on your business’s typical expense ratio, while personal bank statements are generally counted in full.

What credit score do I need for a bank statement loan?

Most bank statement programs look for a minimum credit score around 660. Stronger credit opens up more program options.

Bank Statement Loan | Elevate Mortgage

Q: Can I use a bank statement loan for an investment property?

Yes. Bank statement loans are available for primary residences, second homes, and investment properties. Requirements and pricing may vary by property type.

Bank Statement Loan

Self-employed? Qualify with your deposits

Bank statement loans are designed for self-employed borrowers who show strong revenue but lower taxable income after deductions. Qualify using 12-24 months of personal or business bank statements instead of tax returns.

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Key Advantages

Why Choose a Bank Stmt?

Here's what sets this loan product apart and who it works best for.

No Tax Returns Needed

Your average monthly deposits — not net income — are used to determine qualifying income.

Business or Personal Statements

Use personal bank deposits or business deposits — qualifying income is calculated from your statements.

Wide Range of Properties

Eligible for primary residences, second homes, and investment properties.

Built for Business Owners

1099 earners, freelancers, and business owners the banks turn away often fit here.

Eligibility

Qualification Requirements

General guidelines for Bank Statement Loan eligibility. Requirements vary by lender and scenario.

Requirement	Guideline
Typical Minimum Credit Score	660+
Bank Statements Required	12-24 months
Self-Employment	Typically 2+ years self-employed
Business or Personal	Either type accepted

These are general guidelines only. Specific program requirements may vary. Contact us for a personalized review of your scenario.

FAQ

Frequently Asked Questions

Common questions about Bank Statement Loan loans.

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West Capital Lending, Inc. is an Equal Housing Lender. We do not discriminate on the basis of race, color, religion, national origin, sex, handicap, or familial status.

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