Qualify on Your Deposits, Not Your Tax Returns
Here is every document a bank statement loan needs, so your file goes in complete the first time.
A bank statement loan swaps tax returns for 12 or 24 months of bank statements from one account.
This bank statement loan document checklist is for self-employed borrowers whose write-offs shrink their taxable income. It covers statements, ownership proof, business verification and assets. The JD.Mortgage Team at PRMG is a direct lender, and a real underwriter reads every file. 25+ years, 3,100+ closed loans, Scotsman Guide Top Originator 2026. Lending in 49 states. New York excluded.
What Documents Do You Need for a Bank Statement Loan? The Short Answer
You need 12 or 24 months of complete bank statements from one account, proof you own at least 25% of the business, proof the business is active, a short business narrative, and 30 days of asset statements. You do not need tax returns. Using personal statements also takes your 2 most recent business statements.
Who Needs What, at a Glance
| Document | Personal statements | Business statements |
|---|---|---|
| 12 or 24 months of statements | Yes | Yes |
| 2 most recent business statements | Yes | Already included |
| Proof of 25%+ ownership | Yes | Yes |
| Proof the business is active | Yes | Yes |
| Business Narrative | Yes | Yes |
| Tax returns | No | No |
Your Bank Statement Loan Checklist
Everyone
- ☐ Photo ID
- ☐ 12 or 24 months of bank statements, all pages, from the same account. Screenshots and transaction printouts do not work.
- ☐ Proof you own at least 25% of the business: CPA letter, operating agreement or similar
- ☐ Proof the business is active: CPA letter, Secretary of State listing or business license
- ☐ A short Business Narrative describing what your business does (we send you the template)
- ☐ Asset statements for your down payment and reserves: last 30 days, all pages. Online account links are not accepted for this program.
Depending on your statements
- ☐ Personal statements: your 2 most recent business bank statements too, showing money moving to your personal account
- ☐ Business statements: your IRS EIN letter if the business account is in the business name
- ☐ Using business money for the down payment: you need 50% ownership, and any co-owners must sign a letter approving it
Optional
- ☐ A CPA letter or CPA-prepared P&L showing your real expenses. It can raise your qualifying income above the 50% standard expense ratio.
Not sure whether personal or business statements work better for you? Start the application and we will run both.
Run My NumbersHow Your Income Is Calculated
- Personal statements: 100% of eligible deposits, averaged over 12 or 24 months.
- Business statements: eligible deposits less a 50% standard expense ratio, or less your real expense ratio from a third-party P&L or expense statement.
- Ownership: business income is multiplied by your ownership share.
See how bank statement loans calculate income for worked examples.
How to Apply, Step by Step
Start the application
It takes about 2 minutes. No SSN and no credit pull on the first step.
Send 12 or 24 months of statements
We run the income both ways and show you which one qualifies you for more.
Upload the rest of the checklist
Ownership, business verification, narrative and assets.
Get your pre-approval
A real underwriter reads your file. No automated denial.
Bank Statement Loan Application FAQ
What documents do I need for a bank statement loan?
You need 12 or 24 months of complete bank statements from one account, proof you own at least 25% of the business, proof the business is active, a short business narrative, and 30 days of asset statements. Tax returns are not required.
Do I need tax returns for a bank statement loan?
No. A bank statement loan uses your deposits instead of tax returns, so the write-offs on your returns do not lower your qualifying income. That is the main reason self-employed borrowers use it: the business can look strong in the bank and small on the tax return.
How much of the business do I need to own?
At least 25% to use business bank statements. If you want to use business money for the down payment, closing costs or reserves, you need at least 50% ownership, and any co-owners must sign a letter approving it.
Can I use personal bank statements instead of business statements?
Yes. Personal statements count 100% of eligible deposits. We also need your 2 most recent business bank statements showing money moving into the personal account.
Can I send transaction printouts instead of statements?
No. We need complete monthly statements, all pages, from the same account for the full 12 or 24 months. Screenshots and transaction history printouts are not accepted, because the underwriter has to see opening and closing balances and every deposit for each month.
What is the business narrative?
It is a short description of what your business does, how long it has operated, and how you are paid. We send you the template, and it takes a few minutes to fill out.
Related Pages
About the Author
J.D. Peck is an Area Manager and Mortgage Loan Originator (NMLS #314883) with the JD.Mortgage Team at Paramount Residential Mortgage Group, Inc. (NMLS #75243), based in Colorado Springs. 25+ years, 3,100+ closed loans, Scotsman Guide Top Originator 2026. Lending in 49 states. New York excluded.
Last updated: September 25, 2026. Program facts sourced from the PRMG Income Qualifying Product Profile (09/17/2026).
Start Your Bank Statement Loan
Send 12 or 24 months of statements. We run the income both ways and show you which one qualifies you for more.
What are you looking to do?
No SSN required. No credit pull. Takes about 2 minutes.