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Bank Statement

No tax returns required

Credit scores down to 680

12 -24 months bank statements

Angel Oak’s Bank Statement mortgage program is the perfect option for self-employed borrowers who need an alternative method to show the true cash flow of their business. We can offer up to 80% LTV on personal and business and 50% DTI with scores as low as 680. Borrowers do not have to own 100% of the business.

  • Loans up to $3 million – Minimum $150K
  • Up to 80% LTV on personal and business with no MI
  • DTI up to 50% considered
  • Owner-occupied, 2nd homes and investment properties
  • 2 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
  • Non-warrantable condos considered
  • Rates are 30-year fixed
  • No pre-payment penalty for owner-occupied and 2nd homes
  • Seller concessions to 6% (3% for investment)
  • 2 year self-employed required
  • Borrowers can own as little as 25% of the business with personal bank statements
  • Borrowers can own as little as 50% of the business with business bank statements

Loan Scenario

Our business bank statement product helped save a deal for one very grateful broker. The borrower had a 690 credit score, 90% LTV, and a loan amount of $657,000. After being turned down from traditional lenders, Angel Oak was able to close the deal with a submission to clear to close in just four business days. We were happy to be able to help close this loan and received this appreciative note after closing the deal, “To everyone at Angel Oak and my team – you guys crushed this! Thank you for the help. Very well done.”


What is a bank statement mortgage?
A bank statement program is a home loan program that uses bank statements to calculate a borrower’s income. This is an alternative documentation loan type instead of using tax returns and W-2s in the qualification process. These loans are for self-employed borrowers who typically have substantial tax write-offs that make it challenging to demonstrate the necessary income to prove their ability to repay the loan. The bank statement loan programs use either personal or business bank statements to qualify borrowers.
Can a self-employed person get a mortgage?
Yes, a self-employed borrower can get a mortgage loan using Angel Oak’s industry leading non-QM mortgage programs. Each self-employed borrower will be assessed individually to determine if they qualify for a home loan. Credit scores, income / profits, and other factors will determine the appropriate loan type. Given a self-employed borrower’s unique financial situation, alternative documentation may be needed to calculate a borrower’s income. Angel Oak’s bank statement loan program is designed to help self-employed borrowers, small business owners, and entrepreneurs qualify for a mortgage.
Can I refinance with a bank statement loan program?
There are options to refinance a mortgage using Angel Oak’s bank statement program. That includes rate and term refinancing as well as cash out refinancing. Self-employed homeowners or those who might not qualify for a traditional refi can still get equity out of their home.