Not every borrower fits traditional mortgage guidelines, which is why we offer CCM’s Signature Expanded Bank Statement Loan for creditworthy buyers with non-traditional or self-employed income.
What is a bank statement mortgage loan?
Our Signature Expanded Bank Statement Loan is exactly what it sounds like. Self-employed workers are still workers who still earn a living. You may not have the documentation, but all you need is a bank statement, and you can get qualify for a home loan with CCM, whether you’re purchasing or refinancing.
It’s an alternative way to qualify when others simply say no. Just because your finances may seem complicated, we offer a simple solution. With just an average of your deposits over a 12- or 24-month period, you can be eligible. Want to see if you qualify?
A bank statement loan gives you the chance to get approved for a mortgage using your bank statement instead of tax returns, pay stubs, or even W-2s.
Here’s how it works: with this type of loan, it’s not required that you prove your income through employer verification — rather, you provide CrossCountry Mortgage with your personal or business bank statements. A largerdown paymentmay be necessary, and you may also need further documentation, including:
Bank statement loans are great options for people who are self-employed, independent contractors, gig workers, consultants, freelancers, small business owners, doctors, lawyers, or even full-time real estate investors who may qualify based on the revenue earned from their properties alone.
Here are the following requirements when applying for a bank statement loan.
Personal bank statements (12-24 months)
No tax returns required
Borrow up to 90% of the value of the home
Debt-to-income ratioup to 50%
Loans up to $3 million
For primary and secondary homes and investment properties
Non-warrantable condominiums
Pros and cons of bank statement loans
Bank statement loans are designed for self-employed individuals, freelancers, and business owners who may not qualify for traditional mortgages due to non-W2 income. These loans offer flexibility but also come with specific requirements.
Pros:
Alternative to traditional mortgages – Ideal for those whose tax returns don’t always tell the whole story.
Bank statements only – Income verification is based on bank deposits, not tax returns.
No PMI – Private mortgage insurance is typically not required.
High DTI allowed – Debt-to-income ratios up to 50% may be considered.
Cons:
Business history required – Generally, you must be self-employed or in business for at least two years.
Higher interest rates – Rates are generally 1%–3% higher than those of conventional loans.
Larger down payments – Expect to put down 10%–20%, with higher requirements possible for lower credit scores.
Limited availability – Not all lenders offer bank statement loan programs.
How to get a bank statement loan
Depending on your credit score, loan-to-value (LTV) ratio, and down payment ability, you could qualify for financing without having to prove regular income with W-2s and other traditional documentation. You don’t have to have perfect credit with CCM. We work with you to see you have the best chance possible for approval.
While your LTV ratio assesses your lending risk — the higher it is, usually the higher risk you are as a borrower. But you can still qualify for a bank statement loan with a high LTV ratio. All you have to do is talk to your CCM loan officer to see if you’re a good candidate — and we take care of the rest.
Who Qualifies for a Conventional Loan?
Lenders may also look at financial reserves and your history of responsible credit use.
Profit and Loss (P&L) Statement Loans
Asset-Based Loans
Full Doc Loans
DSCR Loans (Debt Service Coverage Ratio Loans)
1099 Income Loans
Trusted by Homebuyers Across Utah
Hear directly from clients who experienced a smooth, supportive mortgage journey.
Can I get a loan based on my bank statement?
How hard is it to get a bank statement loan?
What is a 12-month bank statement loan?
How many months of bank statements do you need for a loan?
What do loan officers look for in bank statements?
Ready to Explore Your Options?
Take the first step toward achieving your financial goals—apply now to get started!
Get in Touch
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
With over 20 years of experience, Rodrigo Ballon, backed by CrossCountry Mortgage, provides trusted mortgage solutions for homebuyers, investors, and refinancers across Utah and beyond — delivering competitive rates, clear guidance, and personalized service every step of the way.
