What is a bank statement loan?

A bank statement loan allows self-employed borrowers to qualify for a mortgage using 12-24 months of bank statements instead of traditional income documentation like W-2s and tax returns.

Who qualifies for a bank statement loan in Florida?

Bank statement loans are ideal for self-employed individuals, freelancers, business owners, and entrepreneurs who have strong bank deposit history but high write-offs on their tax returns.

What credit score do I need for a bank statement loan?

Most bank statement loan programs require a minimum credit score of 620-660, though better rates are available for scores of 700 and above.

Bank Statement Loans for Self-Employed Borrowers

Qualify with 12-24 months of bank statements instead of tax returns. Perfect for business owners, freelancers, and entrepreneurs.

The Lowdown on Bank Statement Loans

Bank Statement Loans are designed for self-employed borrowers, business owners, and entrepreneurs who may not show sufficient income on their tax returns due to business deductions and write-offs. Instead of W-2s and tax returns, lenders use 12 or 24 months of bank statements to calculate qualifying income.

Your average monthly deposits (personal or business account) are used to determine your qualifying income. Most programs use 50-100% of business deposits or 100% of personal deposits. This makes it possible to qualify for a mortgage that reflects your true cash flow rather than your taxable income.

At 5S Lending, we work with self-employed Florida borrowers who've been turned down by traditional lenders. If you can document steady bank deposits, there may be a bank statement loan program that fits your situation.

Qualification Requirements

12 or 24 months of personal or business bank statements

Self-employed for at least 2 years (typically)

Minimum credit score of 620-660 (varies by lender)

Down payment of 10-20% depending on program

No tax returns or W-2s required

Available for primary, secondary, and investment properties

Your Home Loan Could Be Fully Funded 30 Days From Now

Fixed Rates

Lock in your rate for the life of the loan with predictable monthly payments.

ARM

Adjustable rate mortgages with lower initial rates that adjust over time.

Conforming / Jumbo

Standard and high-balance loans for a wide range of property values.

DSCR Investor Loans

Qualify using rental income — no personal income docs required.

FHA / VA / USDA

Government-backed loans with flexible qualification requirements.

HELOC & HELOAN

Tap your home equity for renovations, debt payoff, or cash reserves.

Get Your Bank Statement Loans Rate Quote Now!

Rate & APR Disclosure (Regulation Z / TILA): All rates shown are for illustrative and informational purposes only and do not constitute a loan offer, commitment to lend, or guarantee of any rate or terms. Actual interest rate, Annual Percentage Rate (APR), monthly payment, and total loan cost will vary based on creditworthiness, loan-to-value ratio, loan program, property type, occupancy, and prevailing market conditions at the time of application and rate lock. Rates and APR are subject to change without notice and may not be available in all areas. All loans subject to credit and property approval. 5S Lending LLC, NMLS #2572142 | Personal NMLS #2182419. Licensed in FL. Equal Housing Lender.