Self-Employed Bank Statement Loan Program

A self-employed bank statement loan program may be worth discussing when business income or irregular deposits do not fit a standard payroll review. NorthStar Funding can help you compare available purchase and refinance options. A bank statement review is one possible documentation path; it does not guarantee approval or a particular rate, loan amount, or down payment.

How bank statement mortgage reviews work

Depending on the lender and program, an underwriter may review personal or business account statements to understand recurring income. Transfers between accounts, one-time deposits, and business expenses may be treated differently. Ask how the lender calculates qualifying income and which statement period it needs before assuming that every deposit counts. Other records may also be required to verify income, assets, property details, and the ability to repay. The Consumer Financial Protection Bureau explains ability-to-repay review for most residential mortgages.

Details that help narrow your options

• Your purchase or refinance goal, property location, intended use, and approximate timeline.
• Whether deposits flow through personal accounts, business accounts, or both.
• The history and source of recurring deposits and any unusual transfers.
• Available funds for a down payment, closing costs, and reserves.
• Questions about your credit profile or documentation that need a closer review.

Questions to ask before choosing a loan

Ask which statements and supporting records the lender will need, how it determines qualifying income, and whether the proposed terms fit your goals. Compare the interest rate, annual percentage rate, monthly payment, closing costs, cash needed at closing, and any other terms shown in a Loan Estimate. The CFPB recommends requesting and comparing multiple Loan Estimates and telling lenders when you are self-employed or have irregular income.

Start with our mortgage loan options, then contact NorthStar Funding about your specific situation. Do not send bank statements, account numbers, or other sensitive documents through the general contact form. Product availability, eligibility, pricing, and final terms are subject to lender guidelines and underwriting.