What is Bank Statement Loan?

A bank statement mortgage allows eligible borrowers to use bank statements to verify income instead of traditional means such as income tax returns. Traditional loans typically require 2 years of income tax returns, w-2s, and pay stubs for borrower income verification. The bank statement mortgage loan offers borrowers another option to verify their income without using tax returns. A bank statement loan is a great option for borrowers to qualify based on their average bank deposits over a 12 to 24 month period.

Bank Statement Loan Requirements