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Bank Statement Loans

For Self-Employed Borrowers. No tax returns required.

  • Loans up to $3 million with a minimum of $150,000
  • Purchase and cash-out or rate-term refinance
  • Owner-occupied, second homes, and investment properties
  • 12 or 24 months' business or personal bank statements
  • Borrowers can own as little as 50% of the business for business bank statements and 25% for personal bank statements
  • Two years' seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
  • 1099 option available
  • Profit and Loss (P&L) statements are a valid form of income verification
  • Permanent and non-permanent residents allowed
  • Loans will be qualified using a default expense factor of 50%. Companies with a lower expense factor will require a statement from a third party CPA, tax preparer, or bookkeeping company (some industries with traditionally higher expense factors, such as restaurants, will be underwritten with a 70% expense factor).

Min Fico


(Up to 75% LTV)



(Minimum 720 FICO)

A bank statement loan is a type of mortgage that allows self-employed borrowers to verify their income based on their personal or business bank statements, rather than traditional methods like tax returns, W-2s, or paystubs. Bank statement loans are generally used by self-employed individuals, small business owners, or independent contractors. Borrowers do not have to own 100% of the business. Our Bank Statement program provides a loan solution to help underserved credit-worthy self-employed borrowers who otherwise would not qualify for a home loan. 


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?
Yes, rate and term refinancing is available using Angel Oak’s bank statement program. Contact an account executive for more information.

What is the benefit to originators who use non-QM loan products?

Originators who utilize non-QM offer a service that their competition may not offer. They become an expert and go-to for the non-QM borrower. The benefit is increased referrals and business growth despite changes in the market. Continue to increase your volume each year regardless of fluctuating interest rates, tighter Agency guidelines, and a slowing refinance market.

Additional Program Options


Bank Statement Questionnaire

Our bank statement questionnaire collects some basic information on your financial history and expenses. This information will be used to help assess financial stability.

Download Questionnaire

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