Bank Statement Loan

Bank Statement loans are often a great mortgage option for eligible self-employed homebuyers.

Angel Oak’s Bank Statement product is a loan option for eligible self-employed borrowers to purchase or refinance a home. This product allows personal or business bank statements to calculate income without requiring tax returns.

*Not all self-employed borrowers will qualify. Additional documents may be required for eligibility.

  • Available for purchase and cash-out or rate-term refinance
  • Primary, second home, or investment properties
    • Single Family, townhomes, or condos

  • 12 or 24 months business or personal bank statements submissions
    • Additional documentation will be required for qualifying income and loan approval.

  • 1099 income option available


How does a bank statement mortgage program work?

A bank statement mortgage allows eligible self-employed borrowers to use bank statements to help verify income instead of tax returns. A lender will use these statements to analyze income to prove the ability to repay a loan.

What is the difference between a bank statement loan and a traditional mortgage loan?

Traditional loans will generally require tax returns, W-2s and paycheck stubs in order to verify a borrower’s income. A bank statement mortgage loan offers self-employed borrowers a different option to verify their income without using tax returns.

Are self-employed borrowers required to use bank statement loan products?

A bank statement loan is often a great option for qualified self-employed borrowers. However, self-employed borrowers should choose the best loan product to help meet their mortgage needs.