Who’s a Good Fit for a Bank Statement Loan
Self-employed buyers and refinancers who can show consistent deposits. People whose Schedule C or K-1 understates cash flow because of write-offs. Some investors use bank statement when a full W-2 path is the wrong box — if the rent has to carry the loan, also look at DSCR.
If you have clean W-2s and the story is straightforward, conventional or FHA is usually simpler. Talk to me first if you want a second set of eyes on whether bank statement is actually the right box.
How income gets calculated
Lenders take the deposits over 12 or 24 months, adjust for transfers and non-business items, and build a monthly income figure. Some want a CPA P&L or a business narrative. Expense ratios and asset documentation still matter. I will not print a deposit-average formula here that will be stale by the next guideline update.
Credit, down payment, and occupancy
These loans usually sit under non-QM or specialty overlays. Credit expectations are often stronger than a government loan. Down payment depends on occupancy and the lender. Primary home, second home, and investment are all possible on the right program — investment deals that lean on rent should also read investment property and DSCR.
I will not print a score floor or a down-payment chart on this page.
What this is not
Not stated income / “write your own number.” Not no-doc. Not a promise that every self-employed borrower qualifies.
Honest: not all situations qualify. Inconsistent deposits, heavy NSF patterns, or income that only exists on paper can fail. That is why we look at the statements early.
Related paths
Primary purchase with traditional docs → conventional, FHA, VA.
Rental where rent supports the payment → DSCR.
Short-term investor money → fix-and-flip, hard money, bridge.
What I need from you
A basic application first. Then 12 or 24 months of the statements that tell your income story (business, personal, or both — we will say which). Sometimes a P&L. You don’t have to research which of these you are.
Shortly after you apply, I’ll tell you what documentation I need. Once I have those, we hop on a call and go through options.
Purchase, refinance, and most programs: Apply opens my Bevri application. Prefer to talk first? Use Talk to Michael. I’ll walk you through the program and the guidelines.