Program

Bank Statement Loans for Self-Employed Borrowers

Self-Employed

Built for self-employed borrowers whose tax returns understate what they really earn. Twelve or twenty-four months of personal or business deposits become qualifying income, no returns required.

12 or 24 MonthsPersonal or BusinessNo Tax ReturnsITIN OK

At a glance

Loan amounts
To $5M
Max LTV
85%
Min FICO
660
Statements
12 or 24 months
Personal and business bank statements offer different ways to calculate qualifying income from deposits — without relying on tax returns.

What Is a Bank Statement Loan?

A bank statement loan is a Non-QM mortgage that qualifies a self-employed borrower using 12 or 24 months of personal or business bank deposits instead of tax returns. Income is calculated from the deposits — directly for personal accounts, or less an expense ratio for business accounts.

Who Are Bank Statement Loans For?

Business owners and sole proprietors with strong deposits and heavy write-offs
Gig-economy earners and freelancers paid irregularly
Commission-based professionals — agents, brokers, consultants
Borrowers two or more years self-employed in the same line of work
ITIN borrowers who own a business
“Your tax returns are written to pay less tax, not to qualify for a mortgage. Show us your deposits instead.”
How to pitch it to your borrower

How Does a Bank Statement Loan Work?

What the file needs — and how we get to a number.

01Statements

12 or 24 months of eligible personal or business bank statements, depending on the program.

02Income calculation

Eligible deposits are reviewed to determine qualifying monthly income, with the calculation method depending on whether personal or business statements are used.

03Self-employment

Generally established self-employment or business history, subject to the applicable program requirements.

04Property

Primary, second home, or investment. Purchase, rate/term, and cash-out.

Bank Statement Loan Requirements

12 or 24 months of personal or business bank statements, depending on program
Assets, reserves and funds to close documented as required by the applicable program
Established self-employment or business history
FICO from 600, depending on program; loan amounts up to $5M through Starry
Qualifying income calculated from eligible deposits according to the applicable program

Requirements follow the current Sky TPO matrices and guidelines; see the matrix for each suite below.

Sky TPO Bank Statement Loan Programs

Each suite sets the occupancy, loan amounts, and matrix — pick the one that fits the property.

Sunny

Primary & Second Homes · Full/Alt-DocAlternative documentation and Bank Statement Select — 12 or 24 months, primary & second homes.
Alternative Documentation — Bank Statement, P&L, 1099, WVOE & Asset UtilizationMatrixGuidelines
Bank Statement Select — 12- or 24-Month Personal & Business Bank StatementsMatrixGuidelines
ITIN — Full & Alternative DocumentationMatrixGuidelines

Breezy

Investment · DSCR & Full/Alt DocAlternative documentation for investment properties.
Alternative Documentation — Bank Statement, P&L, 1099, WVOE & Asset UtilizationMatrixGuidelines

Sky Plus

Closed-End SecondsAn extra boost of equity: standalone seconds, first-lien rate untouched.
Full & Alternative Documentation — Closed-End SecondsMatrixGuidelines

Passport

Foreign NationalForeign national alt doc — second homes & investment.
Full & Alternative Documentation — Foreign NationalMatrixGuidelines

Starry

Super JumboSuper jumbo bank statement on primary homes — to $5M.
Full & Alternative Documentation — Super JumboMatrixGuidelines

Real-World Bank Statement Scenarios

Scenario 01

The write-off heavy business owner

Tax returns show $60K; business statements show $38K per month in deposits. Qualifies on the statements at 80% LTV.
Scenario 02

Freelancer buying a first home

24 months of personal bank statements and an established self-employment history help a freelancer qualify for a primary residence with 15% down.
Scenario 03

Restaurateur refinancing for cash-out

12 months of business bank statements support a cash-out refinance, providing $400K to help fund a second location.

Frequently Asked Questions About Bank Statement Loans

What is a bank statement loan?

A mortgage that qualifies self-employed borrowers on 12 or 24 months of bank deposits instead of tax returns.

How is income calculated from bank statements?

Personal statements: eligible deposits divided by the number of months. Business statements: deposits less an expense ratio for the business type, or per a CPA/EA expense letter.

Is a bank statement loan available for investment property?

Yes — through the Breezy suite, alongside DSCR.

Do you need both personal and business statements?

Not always. Some programs qualify using personal or business statements alone, while others may require supporting business statements.

What if deposits are seasonal?

A longer statement history may provide a clearer picture of businesses with seasonal or variable deposits.

Have a Bank Statement scenario?

Price it in Sky Port in minutes or send it to the Scenario Desk.