Best Bank Statement Lenders for Self-Employed Borrowers (2026)
Bank statement loans let self-employed borrowers qualify on 12–24 months of personal or business bank deposits instead of tax returns. The anchor non-QM product for business owners whose write-offs make their tax-return income look smaller than the cash actually flowing into their accounts.
Typical Rates
7.5%–9.5% (approx.)
Max LTV
Up to 90% (purchase)
Typical Terms
30-year fixed or ARM
Min Credit
620–660
What Are Bank Statement Loans?
Bank statement loans were built for the borrower who earns plenty but writes most of it off. Instead of asking for tax returns, the lender averages 12 or 24 months of deposits into your bank accounts to calculate qualifying income. After applying an expense factor (a percentage haircut that accounts for the cost of running your business), that figure becomes the income used to size your loan. It is the most common way self-employed buyers and homeowners qualify for an owner-occupied mortgage without the agency tax-return requirements.
Who Are Bank Statement Loans Best For?
- Self-employed borrowers and small-business owners
- Borrowers whose tax write-offs shrink their qualifying income
- Owner-occupied purchase or refinance
- 1099 and commission earners with strong deposits
Pros & Cons
Pros
- +No tax returns, W-2s, or pay stubs required
- +Qualify on 12–24 months of bank deposits
- +Available for primary residences, second homes, and refinances
- +Higher LTVs than most alternative-doc programs (up to ~90% on purchase)
- +Personal or business bank statements accepted
Cons
- –Rates run roughly 1–2% above conventional
- –Larger down payment than agency loans (often 10–20%)
- –Lenders apply an expense factor that reduces qualifying deposits
- –Documentation of business ownership (CPA letter or license) usually required
- –Not all lenders offer it directly to consumers — some are broker-only
Best Bank Statement Lenders (12)
These lenders offer bank statement loans, ranked by our editor rating. Click any lender for a full review with detailed terms and expert analysis.
| Lender | Rates | Max LTV | Min Credit | Speed | Best For | Rating |
|---|---|---|---|---|---|---|
| Griffin Funding | 7.25%–9.75% | 90% | 620 | 21–35 days | Self-employed borrowers, Apply direct (no broker) | 4.5 |
| Angel Oak Mortgage Solutions | 7%–9.75% | 90% | 620 | 25–40 days | Broadest non-QM menu, Via broker only | 4.5 |
| New American Funding | 7%–9.5% | 90% | 620 | 21–40 days | Apply direct (no broker), Full product menu | 4.0 |
| Newfi Lending | 7.25%–9.75% | 90% | 620 | 21–35 days | Apply direct (no broker), Non-QM specialist | 4.0 |
| Northpointe Bank | 7%–9.5% | 85% | 640 | 25–40 days | FDIC-insured bank, Apply direct (no broker) | 4.0 |
| Carrington Mortgage Services | 7.25%–10% | 85% | 600 | 25–45 days | Lower credit scores, Apply direct or via broker | 4.0 |
| Deephaven Mortgage | 7%–9.75% | 90% | 620 | 25–40 days | Non-QM pioneer, Via broker only | 4.0 |
| Acra Lending | 7.25%–10% | 90% | 600 | 25–45 days | Established non-QM lender, Via broker only | 4.0 |
| A&D Mortgage | 7.25%–9.99% | 90% | 620 | 25–45 days | Full non-QM menu, Via broker only | 4.0 |
| Newrez | 7%–9.75% | 90% | 620 | 25–40 days | Apply direct or via broker, Smart Series non-QM | 3.5 |
| LoanStream Mortgage | 7.25%–9.99% | 90% | 620 | 25–45 days | NanQ non-QM line, Via broker only | 3.5 |
| Champions Funding | 7.25%–10% | 90% | 600 | 25–45 days | CDFI lender, Via broker only | 3.5 |
Griffin Funding
4.5Griffin Funding is a consumer-direct lender that has built much of its brand around non-QM lending for the self-employed. Borrowers can apply directly online — no broker required — across bank statement, asset-based, 1099, and P&L programs in addition to conventional and VA loans.
7.25%–9.75%
90%
620
21–35 days
$100K–$5M
No experience required
Angel Oak Mortgage Solutions
4.5Angel Oak Mortgage Solutions is one of the largest and most established non-QM lenders in the country, with the broadest self-employed menu in the market. Important for consumers: Angel Oak Mortgage Solutions is a wholesale lender — you cannot apply directly and must work through a mortgage broker.
7%–9.75%
90%
620
25–40 days
$100K–$4M
No experience required
New American Funding
4.0New American Funding (NAF) is one of the largest privately held mortgage lenders in the country, offering a full retail menu that includes non-QM options for self-employed borrowers alongside conventional, FHA, VA, and jumbo loans. Borrowers apply directly through NAF.
7%–9.5%
90%
620
21–40 days
$100K–$5M
No experience required
Newfi Lending
4.0Newfi Lending is a non-QM specialist that operates a genuine consumer-direct retail channel in addition to wholesale. Self-employed borrowers can apply directly for bank statement, asset-utilization, 1099, and ITIN programs without going through a broker.
7.25%–9.75%
90%
620
21–35 days
$100K–$4M
No experience required
Northpointe Bank
4.0Northpointe Bank is an FDIC-insured chartered bank that portfolios select non-QM products, letting self-employed borrowers apply directly for bank statement, asset-depletion, and P&L programs. As a depository institution, it underwrites and holds some of these loans itself.
7%–9.5%
85%
640
25–40 days
$100K–$3M
No experience required
Carrington Mortgage Services
4.0Carrington Mortgage Services is a vertically integrated lender and servicer with a deep non-prime and non-QM focus. Its "Flexible Advantage" series targets self-employed and credit-challenged borrowers, and consumers can apply directly through Carrington's retail channel.
7.25%–10%
85%
600
25–45 days
$100K–$4M
No experience required
Deephaven Mortgage
4.0Deephaven Mortgage is a pure non-QM lender (owned by Pretium) that has focused exclusively on alternative-documentation loans since 2012. For consumers, the key point is that Deephaven is wholesale and correspondent only — you reach its programs through a mortgage broker, not directly.
7%–9.75%
90%
620
25–40 days
$100K–$4M
No experience required
Acra Lending
4.0Acra Lending (formerly Citadel Servicing) is one of the oldest and largest dedicated non-QM lenders and an active securitizer. It is a wholesale lender — consumers reach its bank statement, 1099, P&L, ITIN, and other programs through a mortgage broker rather than applying directly.
7.25%–10%
90%
600
25–45 days
$100K–$4M
No experience required
A&D Mortgage
4.0A&D Mortgage is a Florida-rooted, nationwide non-QM specialist serving thousands of broker partners and an active issuer of non-QM securitizations. It is a wholesale and correspondent lender — borrowers reach its full self-employed menu through a mortgage broker.
7.25%–9.99%
90%
620
25–45 days
$100K–$5M
No experience required
Newrez
3.5Newrez is a large national lender and servicer (part of Rithm Capital) offering its "Smart Series" of non-QM products. It operates both retail and wholesale channels — consumers can apply directly, though the broadest non-QM guidelines often live on the broker side.
7%–9.75%
90%
620
25–40 days
$100K–$4M
No experience required
LoanStream Mortgage
3.5LoanStream Mortgage offers a well-known non-QM line branded "NanQ," covering bank statement, 1099, P&L, asset, and ITIN programs. The NanQ line is a wholesale staple — consumers reach it through a mortgage broker rather than applying directly.
7.25%–9.99%
90%
620
25–45 days
$100K–$4M
No experience required
Champions Funding
3.5Champions Funding is a 100% non-QM lender and a Treasury-designated Community Development Financial Institution (CDFI), a status that supports more flexible, exception-based underwriting for underserved borrowers. It is a wholesale lender — consumers apply through a mortgage broker.
7.25%–10%
90%
600
25–45 days
$100K–$5M
No experience required
Frequently Asked Questions About Bank Statement Loans
How many months of bank statements do I need?
Most programs use either 12 or 24 months of statements. A 24-month average can produce a more favorable income figure if your business is seasonal or growing, while 12 months is faster to document. You can typically use personal or business accounts, though business accounts are subject to an expense factor.
What is the expense factor and how does it affect my income?
When you use business bank statements, lenders assume a portion of your deposits goes toward business expenses. They apply an expense factor — often 50% by default, or a lower figure (sometimes 20–35%) if your CPA provides a letter documenting your actual expense ratio. Only the remaining deposits count as qualifying income.
Can I buy a primary residence with a bank statement loan?
Yes. Bank statement loans are widely used for owner-occupied primary residences and second homes, as well as rate-and-term or cash-out refinances. Down payments as low as 10% are available to well-qualified borrowers, though most programs ask for 10–20%.
Do bank statement loans cost more than a conventional mortgage?
Generally yes. Because they are non-QM products, rates typically run about 1–2% higher than a comparable conventional loan, and down payment requirements are often a bit larger. The trade-off is qualifying without tax returns when your write-offs would otherwise disqualify you.
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