bank statement program

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How a Bank Statement Program Works

We understand the unique needs of employed individuals have when it comes time to financing a home. If you are self-employed, you do not have to provide paystubs, W-2’s, tax returns or tax transcripts.  The deposits into your business account are used to qualify for the mortgage.


  • You can pick from a 30 year fixed loan or take an adjustable rate mortgage for 5, 7or 10 years to lower your monthly mortgage payment for the initial years of the loan.
  • This program allows you to put down only 10% if you are purchasing a home. If you are refinancing, you can also borrow up to 90% of the home’s value on a rate & term refinance.
  • Credit scores as low as 620 to be accepted into this program and need to be 4+ years away from any major derogatory credit.
  • Financing up to $3 million is allowed for purchases or rate and term refinances. Loan amounts are reduced to $1.25 million when doing a cash out refinance and the loan-to-value is capped at 80% of the home’s value.  The maximum cash in hand allowed on a cash-out refinance is $1 million.

Asset Based Income

You can use 12 or 24 month bank statements or asset based income to qualify.

Low Down Payment

Down payments as little as 10% down

No Pay Stubs Required

No paystubs, W-2’s, tax returns or tax transcripts required

Low Credit Score?

Credit scores as low as 620 may be accepted into this program

High Financing Limits

Financing tersm up to $3 Million available

Flexible Terms

Program can be used for first time home buyers, second homes or investment properties
Your team is invaluable to self-employed small business owners like myself, who find it difficult to secure “critical’ financing to help grow their business to the next level. Stonegate Mortgage was aggressive, followed up well and showed persistence in finding a program that exceeded the goals I had when we started this process.
Raymond N.

Years in business

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Loans closed

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Day Processing Goal

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