Bank statement loans are a type of non-qualified mortgage loan that allows you to qualify based on bank statements instead of tax returns. The lender will require you to provide a certain number of months’ worth of bank statements to prove your ability to repay the loan. These mortgage programs are often a good option for self-employed individuals, business owners, and retirees who need an alternative income verification option, especially if their taxes don’t reflect their full income. Most mortgages require you to submit tax returns, pay stubs, or W-2s to verify your income, but with a bank statement loan, you may be able to provide as little as 12 months of personal or business bank statements instead.

This permits self-employed borrowers and even those buying a house with low income to access home loans, especially if their taxes don’t reflect their full income.

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