{"id":120,"date":"2026-06-03T13:57:26","date_gmt":"2026-06-03T13:57:26","guid":{"rendered":"https:\/\/kennedymtg.com\/?page_id=120"},"modified":"2026-06-03T21:17:30","modified_gmt":"2026-06-03T21:17:30","slug":"bank-statement-loans","status":"publish","type":"page","link":"https:\/\/kennedymtg.com\/staging\/8888\/residential\/bank-statement-loans\/","title":{"rendered":"Bank Statement Loans"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em>One-line summary: Mortgage loans that qualify self-employed borrowers based on bank statement deposits rather than tax returns, the standard option for business owners whose tax write-offs leave their tax return income lower than their actual cash flow.<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Best for<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Self-employed borrowers, business owners, 1099 contractors, freelancers, gig workers, whose tax returns understate their actual income due to legitimate business deductions. Especially relevant for borrowers who would qualify for far more loan on bank deposits than on adjusted tax-return income.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Key terms (typical)<\/h3>\n\n\n\n<figure class=\"wp-block-table table-label-value\"><table><thead><tr><th>Attribute<\/th><th>Typical Range<\/th><\/tr><\/thead><tbody><tr><td>Income documentation<\/td><td>12 or 24 months of personal or business bank statements<\/td><\/tr><tr><td>Income calculation<\/td><td>Average monthly deposits, typically with an expense factor adjustment<\/td><\/tr><tr><td>Eligible properties<\/td><td>1\u20134 unit primary, second home, investment<\/td><\/tr><tr><td>Loan amount<\/td><td>Up to $3M+ depending on program<\/td><\/tr><tr><td>Down payment<\/td><td>10\u201320% typical<\/td><\/tr><tr><td>Credit score<\/td><td>660+ typical; 700+ for best terms<\/td><\/tr><tr><td>Term<\/td><td>30 years fixed; ARM and interest-only options available<\/td><\/tr><tr><td>Reserves<\/td><td>6\u201312 months PITI typical<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Why borrowers choose this program<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>No tax returns required.<\/strong> Underwriting uses bank statement deposits, not Schedule C or business returns, the most common pain point for self-employed conventional applicants.<\/li>\n<li><strong>Higher qualifying income.<\/strong> For borrowers whose deductions are real but legitimate, bank statement income is often substantially higher than tax return income.<\/li>\n<li><strong>30-year fixed available.<\/strong> Despite being non-QM, most bank statement programs offer full 30-year fixed terms, not just short-term ARMs.<\/li>\n<li><strong>All property types.<\/strong> Available for primary, second home, and investment property purchases.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Considerations<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Higher rates than conventional.<\/strong> Bank statement loans typically price 50\u2013150 basis points above conventional. The premium pays for the documentation flexibility.<\/li>\n<li><strong>Larger down payment.<\/strong> Most programs require 10\u201320% down; very few go below 10%.<\/li>\n<li><strong>Expense factor reduces deposits.<\/strong> Lenders apply an expense factor (often 50%) to business bank statement deposits to estimate net income. The income on the application may be lower than gross deposits.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>One-line summary: Mortgage loans that qualify self-employed borrowers based on bank statement deposits rather than tax returns, the standard option for business owners whose tax write-offs leave their tax return [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":490,"menu_order":10,"comment_status":"closed","ping_status":"closed","template":"page-templates\/program.php","meta":{"nf_dc_page":"","footnotes":""},"class_list":["post-120","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bank Statement Loans - Kennedy Mortgage<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kennedymtg.com\/staging\/8888\/residential\/bank-statement-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank Statement Loans - 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