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Menu
 * Broker Login
 * Broker Application
 * Secure Upload
 * Resources
 * Angel Oak Companies

Search
 * Mortgage Programs
   * Program Overview
   * Bank Statement Loans
   * Bank Statement HELOC
   * Closed-End Second Mortgage
   * DSCR Loan
   * 2-1 Buydown
   * 1099 Income Loan
   * Asset Qualifier
   * Foreign National
   * ITIN Mortgage Loan
   * P&L Loan
   * Full Doc Platinum Jumbo
   * Full Doc Portfolio Select
   * Agency Mortgage
 * Non-QM QuickQuote
 * Calculators
   * Blended Rate Calculator
   * DSCR Loan Calculator
   * 2-1 Buydown Calculator
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   * Overview
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BANK STATEMENT LOANS

For Self-Employed Borrowers. No tax returns required.

 * Loans up to $4 million with a minimum of $150,000
 * Purchase and cash-out or rate-term refinance
 * Owner-occupied, second homes, and investment properties
 * 12 or 24 months' business or personal bank statements
 * Borrowers can own as little as 50% of the business for business bank
   statements and 25% for personal bank statements
 * Two years' seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
 * 1099 option available
 * Profit and Loss (P&L) statements are a valid form of income verification
 * Permanent and non-permanent residents allowed
 * Loans will be qualified using a default expense factor of 50%. Companies with
   a lower expense factor will require a statement from a third party CPA, tax
   preparer, or bookkeeping company (some industries with traditionally higher
   expense factors, such as restaurants, will be underwritten with a 70% expense
   factor).

Min Fico

640

(Up to 75% LTV)

Max LTV

90%

(Minimum 720 FICO)

A bank statement loan is a type of mortgage that allows self-employed borrowers
to verify their income based on their personal or business bank statements,
rather than traditional methods like tax returns, W-2s, or paystubs. Bank
statement loans are generally used by self-employed individuals, small business
owners, or independent contractors. Borrowers do not have to own 100% of the
business. Our Bank Statement program provides a loan solution to help
underserved credit-worthy self-employed borrowers who otherwise would not
qualify for a home loan. 


FAQ’S

What is a bank statement mortgage?
A bank statement program is a home loan program that uses bank statements to
calculate a borrower’s income. This is an alternative documentation loan type
instead of using tax returns and W-2s in the qualification process. These loans
are for self-employed borrowers who typically have substantial tax write-offs
that make it challenging to demonstrate the necessary income to prove their
ability to repay the loan. The bank statement loan programs use either personal
or business bank statements to qualify borrowers.
Can a self-employed person get a mortgage?
Yes, a self-employed borrower can get a mortgage loan using Angel Oak’s industry
leading non-QM mortgage programs. Each self-employed borrower will be assessed
individually to determine if they qualify for a home loan. Credit scores, income
/ profits, and other factors will determine the appropriate loan type. Given a
self-employed borrower’s unique financial situation, alternative documentation
may be needed to calculate a borrower’s income. Angel Oak’s bank statement loan
program is designed to help self-employed borrowers, small business owners, and
entrepreneurs qualify for a mortgage.
Can I refinance with a bank statement loan program?
Yes, rate and term refinancing is available using Angel Oak’s bank statement
program. Contact an account executive for more information.


WHAT IS THE BENEFIT TO ORIGINATORS WHO USE NON-QM LOAN PRODUCTS?

Originators who utilize non-QM offer a service that their competition may not
offer. They become an expert and go-to for the non-QM borrower. The benefit is
increased referrals and business growth despite changes in the market. Continue
to increase your volume each year regardless of fluctuating interest rates,
tighter Agency guidelines, and a slowing refinance market.

Additional Program Options

 


BANK STATEMENT QUESTIONNAIRE

Our bank statement questionnaire collects some basic information on your
financial history and expenses. This information will be used to help assess
financial stability.

Download Questionnaire

CONTACT ANGEL OAK

Please provide your contact information below and an experienced mortgage
professional in your area will be in touch within the next business day.

* required field



By submitting this form, you are granting Angel Oak Mortgage Solutions
permission to email you.

Find an AE Non-QM QuickQuote Upcoming Non-QM Webinars

PROGRAMS

Select Program Bank Statement Loans DSCR Loan Bank Statement HELOC Closed-End
Second Mortgage 2-1 Buydown 1099 Income Loan P&L Loan Platinum Jumbo Portfolio
Select Asset Qualifier ITIN Mortgage Loan Foreign National Agency Mortgage
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Angel Oak Mortgage Solutions LLC – NMLS ID #1160240 (NMLS Consumer Access).
Licensed in AL #21875, AZ #0926930, AK #110480, Licensed by the Department of
Financial Protection and Innovation under the California Residential Mortgage
Lending Act License #4131346. Loans made or arranged pursuant to a California
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Real Estate, CN #ML-1160240, DE #019971, DC #MLB1160240, FL, GA #41747, HI #
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TX, UT, VA #MC-5830, WA #CL-1160240, WV #ML-36451, WI #1160240BA, WY #3229.

 

This site is not authorized by the New York State Department of Financial
Services.  No mortgage solicitation activity or loan applications for properties
located in the State of New York can be facilitated through this site.

Angel Oak, Angel Oak Mortgage Solutions and the tree design are trademarks owned
or registered by Angel Oak Companies, LP in the U.S.




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