We offer bank statement mortgage options that evaluate eligible deposits using 12 or 24 months of bank statements. These programs provide an alternative to traditional tax-return-based income qualification for Arizona buyers and property owners. If you’re purchasing a home, refinancing, or buying an investment property, we can help you explore financing that fits how you earn your income.
What Is a Bank Statement Mortgage?
A bank statement mortgage uses eligible deposits into personal or business accounts to help determine qualifying income. The lender reviews deposit history, consistency, and applicable business expenses. Not every deposit counts as income: the lender may exclude transfers, borrowed funds, and other non-income deposits.
These program options do not require tax transcripts. You may need other documentation to verify your business, account activity, and overall qualifications.
Arizona Bank Statement Loan Highlights
- Loan amounts up to $4 million
- 12 or 24 months of bank statements
- Fast income calculations
- Co-mingled bank accounts permitted
- First-time homebuyers eligible
- First-time investors eligible
- Credit scores as low as 620
- Options for borrowers with no credit score or limited tradelines
- Previous credit and housing events considered
- Seller concessions up to 6%
- Non-warrantable condos and condotels considered
- Tax transcripts not required
- Options for eligible ITIN borrowers, permanent residents, non-permanent residents, DACA recipients, and borrowers with asylum status
12- or 24-Month Bank Statement Options
Depending on the program, borrowers may qualify using 12 or 24 months of bank statements. The appropriate documentation period depends on your business history, deposit patterns, and underwriting requirements. We can review your statements to determine which option best supports your application.
- Business owners
- Independent contractors
- Freelancers and consultants
- Commission-based self-employed professionals
- Other eligible borrowers with documented business cash flow
Fast Income Calculations
Understanding your qualifying income is an important first step. Our bank statement options offer fast income calculations to help you determine whether the program fits your financing needs. An initial calculation can help you plan your purchase or refinance before moving further into the process. Final qualifying income remains subject to the lender’s documentation review and underwriting approval.
Co-Mingled Bank Accounts Permitted
Some self-employed borrowers use the same account for business and personal activity. Applicable program guidelines permit co-mingled accounts.
Options for First-Time Buyers and Investors
You do not need to have owned a home or rental property before to be considered. First-time homebuyers may use bank statement financing to buy an eligible home when traditional income documentation doesn’t fit their circumstances. First-time investors may also qualify under applicable program guidelines. Tell us about the property and your plans so we can review the appropriate financing.
Credit Scores as Low as 620
Bank statement options are available with credit scores as low as 620, subject to program requirements. We also offer options for eligible borrowers with no credit score or limited tradelines.
Previous Credit and Housing Events Considered
A previous credit or housing event does not automatically eliminate every financing option. Programs may consider borrowers with past bankruptcies, foreclosures, short sales, or other credit challenges.
Seller Concessions Up to 6%
For eligible purchases, seller concessions up to 6% may help cover allowable closing costs and prepaid expenses. The permitted contribution depends on the program and transaction. Seller concessions generally cannot replace your required down payment, and contributions cannot exceed eligible costs.
Non-Warrantable Condo and Condotel Options
Some Arizona condominium properties do not meet standard agency financing requirements. Bank statement financing options may be available for eligible non-warrantable condos and condotels, subject to project review. These properties can involve additional requirements based on their ownership structure, use, and other characteristics.
Options for Different Residency and Documentation Statuses
- ITIN borrowers
- Permanent residents
- Non-permanent residents
- DACA recipients
- Borrowers with asylum status
Contact us to discuss a mortgage with a bank statement for your Arizona property.