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Designed for business owners, freelancers, entrepreneurs, and self-employed borrowers
5.0 Based on 1300* Reviews
Skip the traditional W-2 and tax return approach. Instead, a bank statement loan allows eligible self-employed borrowers to have their qualifying income evaluated using personal or business bank statements.
Designed for business owners, freelancers, entrepreneurs, and self-employed borrowers
Flexible loan options with potentially higher loan amounts, depending on program guidelines
May provide a more representative picture of a borrower’s business cash flow and qualifying income
By submitting this form, you authorize Prime Choice Funding to contact you by phone call, email, and SMS/text message, including through automated technology, AI-generated or prerecorded voice or text messages, regarding mortgage products and services. Consent is not required as a condition to obtain a loan or services. Message and data rates may apply. You may opt out at any time. Questions? Contact us at info@primechoicefunding.com.
How It Works
Share a few details about your income, property, and financing goals.
We’ll review your situation and help identify bank statement loan options that may fit your needs.
Review rates, terms, and costs so you can make an informed decision.
We handle the details so you can focus on what’s next.
WHY CHOOSE PRIME CHOICE FUNDING?
Nearly two decades of experience helping homeowners achieve their financial goals.
In mortgages funded for thousands of families nationwide.
A wide range of loan programs from top lenders across the country.
Ability to repay is based on bank statement deposits, not pay stubs or tax returns. Personal and business bank statements qualify.
No need to submit tax returns or pay stubs.
Qualifying borrowers can get a bank statement loan with as little as 10% down.
We combine experience and technology, including our AI-driven underwriting platform, to simplify the underwriting process. Additionally, eligible borrowers may sync 12 to 24 months of bank statements instead of manually uploading each document.
Access your built-up equity with a cash-out refinance. Alternatively, access equity via a bank statement HELOAN or HELOC.
Prime Choice Funding offers Bank Statement loan options with flexible loan amounts based on the borrower’s qualifications, property, and selected loan program. Higher loan amounts may be available for qualifying scenarios.
DTI ratios of up to 50% may be available for qualifying borrowers. In some cases, ratios of up to 55% may be considered by exception. Therefore, these flexible requirements may make qualification easier for certain borrowers.
Choose from a fixed- or adjustable-rate bank statement loan.
A bank statement loan is a type of non-qualified mortgage (Non-QM) designed for eligible self-employed borrowers. Instead of relying primarily on traditional tax returns and W-2 income documentation, borrowers may qualify using deposits shown on their bank statements.
Depending on the loan program, lenders may review 12 to 24 months of personal or business bank statements. As a result, they can evaluate the borrower’s deposit history and determine qualifying income. Therefore, this approach can be particularly helpful for business owners and independent professionals whose legitimate expenses and tax deductions reduce the taxable income shown on their returns.
Bank statement loans may be suitable for:
However, eligibility requirements, expense calculations, necessary documentation, and the required bank-statement period vary by lender and loan program.
Bank statement loans offer flexible income documentation. However, they may also have different eligibility requirements and interest rates than conventional mortgages. Therefore, borrowers should compare both the benefits and potential limitations before applying.
Minimum 2+ years self-employed in most cases.
3+ months of PITI reserves required; larger loans require more.
12 to 24 months of personal or business bank statements.
10% minimum down payment.
620+ minimum credit score.