Bank Statement Loans
Flexible Mortgage Solutions for Self-Employed Homebuyers
If you’re self-employed or don’t have traditional income paperwork like W-2s or pay stubs, getting a mortgage can feel challenging. That’s where a Bank Statement Loan comes in.
A bank statement loan is an alternative mortgage option that allows borrowers to qualify without submitting traditional tax returns. Instead of IRS documents, you provide proof of income through personal or business bank statements. This makes it an excellent choice for self-employed individuals, freelancers, business owners, and gig workers.
These loans fall under the Non-QM (Non-Qualified Mortgage) category, offering flexibility for people who may not meet standard mortgage requirements but still have strong, consistent income.
Who Can Benefit from a Bank Statement Loan?
Bank statement loans are ideal for anyone with non-traditional income sources, including:
- Self-employed professionals
- Freelancers and contractors
- Small business owners
- Consultants and gig economy workers
- Entrepreneurs and real estate agents
If you’ve ever asked, “Can I get a mortgage using bank statements only?” the answer is yes—with the right lender guiding you through the process.
12-Month vs. 24-Month Bank Statement Programs
Depending on your situation, you may qualify using either 12-month or 24-month bank statement records. Each option has its benefits, and mortgage experts can help determine which works best for your financial scenario.
How Bank Statement Loans Work
Unlike traditional mortgages, bank statement loans don’t require W-2s, pay stubs, or tax returns in most cases. Instead, lenders evaluate your income based on deposits shown in your personal or business bank statements.
The typical process involves:
- Reviewing 12 or 24 months of bank statements
- Calculating your average monthly income from deposits
- Qualifying borrowers without traditional tax forms
This approach allows self-employed individuals to access home financing even if their tax returns show lower income due to business deductions.
Requirements for Bank Statement Loans
To qualify, you’ll generally need:
- 12 or 24 months of bank statements
- Proof of self-employment (business license, CPA letter, etc.)
- A credit score of around 620 or higher
- A down payment, usually between 10–20%
- Consistent income from your business or self-employed work
Accepted income documentation includes:
- Business bank statements
- Personal bank statements
- In some cases, a profit and loss statement
These flexible guidelines make bank statement loans accessible to a wide range of self-employed borrowers.
Why Choose Windward Mortgage?
At Windward Mortgage, we specialize in helping self-employed borrowers qualify for home loans using their actual income—not just tax forms. Here’s why clients trust us:
- Expert guidance on bank statement loan programs
- Access to alternative documentation mortgage options
- Ability to qualify without W-2s or tax returns
- Fast, friendly communication and real results
- Support throughout the entire home financing process
We provide more than just loans—we provide a clear path to your next home.
Steps to Apply for a Bank Statement Loan
- Initial Consultation – Review your goals and income using bank statements.
- Document Collection – Provide 12 or 24 months of statements, proof of self-employment, and ID.
- Loan Review & Pre-Approval – Assess eligibility and secure pre-approval.
- Home Search & Offer – Work with a realtor to find and submit an offer on your ideal home.
- Loan Processing & Closing – Complete paperwork and finalize your mortgage.
We guide you through every step, making the process simple and stress-free.
✅ Ready to Get Started?
If you’re self-employed and need a flexible mortgage option, a Bank Statement Loan could be the right choice. Windward Mortgage can help you qualify using your real income and guide you toward homeownership with confidence.
📞 Contact us today for a free consultation and start your journey to owning a home.
