What is a bank statement loan and who is it for?
A bank statement loan is a mortgage for self-employed borrowers that qualifies income using business or personal bank statement deposits in place of tax returns. Mortgage Go originates bank statement loans through licensed loan officers in the states where each officer is individually licensed.
Who it's for
Self-employed borrowers, 1099 contractors, and business owners whose tax returns understate qualifying income.
Who it's not for
W-2 borrowers whose tax returns reflect their full qualifying income — conventional is usually cheaper.
Benefits
- Qualification using 12 or 24 months of bank statements (program-dependent).
- No tax returns required for income qualification.
- Designed for self-employed and 1099 borrowers.
- Available on primary, second home, and investment properties.
Key facts
- Income documentation
- Bank statements in place of tax returns
- Statement period
- 12 or 24 months (program-dependent)
- Minimum credit score
- Placeholder — pending compliance
- Down payment
- Placeholder — pending compliance
Calculator
Bank Statement Loan calculator embeds here in Phase 2.
Frequently asked questions
What is a bank statement loan?+
A bank statement loan qualifies a self-employed borrower using deposits across personal or business bank statements, instead of using tax returns to calculate income.
Do I still need good credit?+
Yes. Bank statement programs still evaluate credit, assets, and the property. Specific qualifying thresholds are pending compliance sign-off.