A bank statement loan qualifies you using 12 to 24 months of actual bank deposits instead of tax returns, built for self-employed borrowers whose write-offs make their real income hard to see on paper.
Mountain Country Mortgage compares Bank Statement lenders on your behalf, so self-employed buyers get credit for what they actually earn.
A bank statement loan is a Non-QM mortgage that uses your deposit history as proof of income instead of tax returns. The lender reviews 12 or 24 months of personal or business bank statements and applies an expense factor to calculate your qualifying income.
This works well if your tax returns understate your real income because of legitimate business write-offs. If you would rather qualify off a CPA-prepared profit and loss statement instead of raw deposits, take a look at our P&L Loan program.
Mountain Country Mortgage is a broker, not a lender. We compare Bank Statement programs across our lender network and bring you the terms that fit your actual deposit history.
Northern Arizona has a large share of small business owners, contractors, and gig workers whose deposits tell a stronger story than their tax returns do. A lot of that income never shows up cleanly on paper.
Buyers who write off vehicles, equipment, or home offices often get turned down by conventional guidelines even with healthy cash flow. A Bank Statement loan looks at what actually lands in the account instead.
A self-employed contractor in Prescott Valley had steady deposits for years but a tax return full of equipment write-offs. Twelve months of business bank statements told a clearer story, and a local loan officer got them qualified within weeks.
| Requirement | Typical Range |
|---|---|
| Self-Employment History | Typically 2 years of self-employment. |
| Bank Statements | 12 or 24 months, personal or business. |
| Minimum Credit Score | Usually 620 or higher. Better terms are available at 680 and up. |
| Down Payment | Typically 10% to 20%, depending on loan amount and credit. |
| Reserves | Several months of mortgage payment reserves are often required. |
| Property Types | Primary residence, second home, or investment property. |
Most lenders look for 620 or higher, though a stronger score earns a better rate.
We review 12 or 24 months of your bank statements to calculate your qualifying income.
Shop with a real budget in hand, based on your actual deposit history.
We manage the file as the lender reviews your credit, reserves, and down payment.
Once underwriting clears, you sign, fund, and get your keys.
A couple of quick stops before you go further, so you walk into your first conversation with a loan officer already prepared.
A plain-English walkthrough of the whole process, from checking your credit to closing day.
See every loan program Mountain Country Mortgage offers, from first-time buyer options to investor financing.
Yes. Most lenders accept business bank statements, though they apply an expense factor to the deposits.
Personal accounts may result in more income being counted if your deposits are consistent. Your loan officer can help you decide which account type works better for your file.
Yes, this program is built for self-employed borrowers.
W-2 employees typically use pay stubs and tax returns instead. If you have a mix of self-employment and W-2 income, a loan officer can help you find the best documentation path.
Some variation is expected and usually fine.
Lenders average deposits over the full 12 or 24-month period, so normal ups and downs are accounted for. Large one-time deposits may get a closer look during underwriting.
A bank statement loan requires real documentation. A stated income loan did not.
Stated income loans, common before 2008, let borrowers self-report income with no documentation at all. Bank statement loans use actual deposit history, which is a very different level of verification.
Yes, including cash-out refinance in many cases.
Refinance eligibility varies by lender, so confirm the current details with your loan officer before you apply.
Bank Statement looks at actual deposits. P&L looks at a CPA-prepared financial statement.
Both serve self-employed borrowers, but the documentation is different. Some lenders will accept either one, or ask for both, depending on your file.
Yes, as long as the pattern is consistent from year to year.
Lenders average your deposits over the full 12 or 24-month period, so predictable seasonal swings, common in Northern Arizona’s tourism and hospitality economy, are accounted for rather than penalized.