Bank Statement Loans
Top Reasons for Self-Employed Home Buyers to Consider
Bank Statement Loans
At SRK CAPITAL, we understand that qualifying using traditional income isn't always a fit for everyone.
This is especially true if you're self-employed, an independent contractor, business owner, or real estate investor. Bank Statement Loans are designed for self employed individuals who need flexible mortgage options beyond traditional mortgages.
This loan solution This mortgage loan solution lets you qualify for a bank statement loan by using personal or business bank statements instead of pay stubs or tax returns. Unlike conventional loans for employed borrowers, these types of mortgages were designed with flexibility in mind, especially for those who do not meet traditional loan requirements.
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Our team specializes in helping self-employed individuals secure the financing they need.
Current Bank Statement Loan Rates
Get personalized bank statement loan rates for self-employed borrowers and learn more about your non-QM financing options with SRK CAPITAL AI.
Loan Details
LTV: 80.0% | Down: $100,000
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*Rates are actual rates based on current market conditions. Rates are subject to change without notice.
Your actual rate may vary based on your credit profile and qualifications.
SRK CAPITAL AI can make mistakes. Rates provided by SRK CAPITAL AI should not be considered a commitment to lend.
For complete mortgage disclosure information, please refer to our Terms of Service and for SRK CAPITAL AI disclosure information, please refer to our AI Policy.
What is a Bank Statement Loan?
Bank Statement Loans Bank Statement Loans make it easier for independent contractors and people with non-traditional income to get a mortgage loan. These loan offers use bank statement loan requirements that review 12 to 24 months of your personal or business bank statements to verify income. This method works well for self-employed people, freelancers, business owners, and real estate investors. When you apply for a bank statement loan, you can qualify based on your cash flow rather than traditional pay stubs or tax returns.
Income Verification
Uses bank deposits to verify income instead of traditional W-2s or tax returns
Perfect For
Self-employed individuals, freelancers, and business owners with complex income
How These Loans Work
Proving Income with Bank Statements
Traditional loans need pay stubs and tax returns, which isn't always helpful for the self-employed. With a Bank Statement Loan, you can use personal or business bank statements. The lender will look at the deposits and cash flow over the past year or two. They do this to look for a steady income pattern. This way, you won't need to rely on tax returns that doesn't show your actual earnings.
Tip: Keep your bank statements organized and readily available to speed up the application process.
Loan Amounts and Terms
This type of loan offers competitive rates and flexible loan terms. Many of these loans are very close to what you would expect with a traditional conforming loan. Whether you're buying a new home, refinancing, or investing in real estate, these loans are available. The loan amount you will qualify for will depend on your monthly cash flow and credit profile.
Credit Score Requirements and Down Payment
Bank statement loans can be more flexible than traditional mortgages, but you will still need a good credit history and potentially a larger down payment. Our experienced loan officers can guide you through the pros and cons of bank statement loans, including bank statement loan requirements. We'll review your unique financial background to decide if this mortgage loan would be a good fit for you.
Pros and Cons of Bank Statement Loans
Ideal for Self-Employed Individuals and Business Owners
For independent contractors, business owners, and real estate investors, tax deductions can lower your reported income, making it harder to qualify for a conventional loan. Bank Statement Loans are designed for self employed individuals, letting you use actual cash flow from personal or business bank statements as proof of income, giving a realistic view of your earnings compared to traditional mortgages.
No Pay Stubs or Tax Returns Required
This mortgage loan removes the need for pay stubs or tax returns that employed borrowers typically provide. These mortgage options make it easier for those with non-traditional income sources to apply for a bank statement loan without traditional documentation.
Competitive Rates Despite Higher Interest Rates
While bank statement loans may have higher interest rates than conventional loans and require a larger down payment, they still offer competitive loan offers compared to other types of mortgages for self-employed borrowers. Our loan officers will explain all pros and cons of bank statement loans to help you make an informed decision.
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Get Started TodayBank Statement Loan Requirements - Commonly Asked Questions
Bank statement loan requirements typically include 12 to 24 months of personal or business bank statements. This helps our loan officers get a clear view of your income over time, unlike conventional loans that use pay stubs or tax returns.
Bank Statement Loans are a great choice for self-employed individuals, freelancers, consultants, or anyone who owns a business.
While bank statement loans may have higher interest rates than conventional loans and often require a larger down payment, they offer competitive loan offers for self-employed borrowers. Our loan officers will explain all pros and cons of bank statement loans during your consultation.
Yes! You can apply for a bank statement loan for home purchases, refinancing, or investment properties. These types of mortgages offer flexible terms to fit different goals, whether you're a real estate investor or business owner looking to qualify for a bank statement mortgage loan.
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Schedule a ConsultationWhy Choose SRK CAPITAL?
At SRK CAPITAL, we work with more than 150 lender partners offering hundreds of different loan offers and types of mortgages. Our experienced loan officers specialize in helping independent contractors, business owners, and real estate investors qualify for a bank statement loan. We understand the challenges self-employed borrowers face when traditional mortgages require pay stubs or tax returns. Our team helps you navigate bank statement loan requirements and find mortgage options that work with personal or business bank statements. We focus on personalized mortgage solutions that align with each client's needs. We understand the challenges self-employed borrowers face in accessing favorable home financing. Our team specializes in helping people with non-traditional incomes achieve their real estate dreams.
Did you know? Our bank statement loan rates are often 0.50% lower than major lenders like Rocket Mortgage. Check today's competitive rates and see how much you could save.
Let Us Help Make Your Real Estate Goals a Reality
Our Bank Statement Loans are designed for self employed individuals and professionals. Despite potentially higher interest rates and larger down payment requirements compared to conventional loans, we help you get a mortgage loan that makes sense. Our loan officers will explain all pros and cons of bank statement loans to ensure you make an informed decision when you apply for a bank statement loan.
How to Get Started
If you're ready to apply for a bank statement loan, get in touch today. Our experienced loan officers will walk you through bank statement loan requirements, helping independent contractors, business owners, and real estate investors understand these mortgage options. We'll review whether personal or business bank statements work best for your situation and explain how these types of mortgages differ from traditional mortgages and conventional loans. With our expertise in loans designed for self employed individuals, we make the lending process smooth and stress-free.
To get started and apply for a bank statement loan, simply reach out to SRK CAPITAL today for a free personalized consultation. Our loan officers will guide independent contractors, business owners, and real estate investors through bank statement loan requirements. We'll help you understand the pros and cons of bank statement loans, including higher interest rates and larger down payment considerations compared to conventional loans. From reviewing your personal or business bank statements to choosing between different types of mortgages and loan offers, we make qualifying for a bank statement mortgage loan straightforward for all self-employed individuals.
The SRK CAPITAL Difference
Consult
Consult with our experienced loan officers to review loan offers and understand the pros and cons of bank statement loans versus conventional loans. We'll help independent contractors and business owners make informed decisions about mortgage options.
Explore
Browse through our wide range of types of mortgages including options designed for self employed individuals. Whether you need traditional mortgages or want to qualify for a bank statement loan, we have mortgage options for real estate investors and employed borrowers alike.
Apply
Our streamlined process makes it easy to apply for a bank statement loan. Submit your personal or business bank statements instead of pay stubs or tax returns. Despite potentially higher interest rates and larger down payment needs, our mortgage loan application is hassle-free.