Step 1 - Choose the types of bank account you wish to use to qualify. You can select to use either personal bank statements or business bank statements.
Step 2 - Select the number of months worth of bank statements you want to use to qualify. You can select either 12 months or 24 months (there are also options to qualify using just 1 months worth of bank statements, if interested in learning more, click here).
Step 3 - Enter the amount of income / deposits for each month. This will then provide you with a total amount, which will then be divided by either 12 or 24 months (depending on which option you selected). You will then be provided a estimated amount of qualifying monthly income.
If you selected to use business bank statements, select what percentage of the business you own. If you own less than 100% of the business, the percentage you select will adjust the qualifying monthly income accordingly.
Would you like to receive a free quote for your mortgage? We can help match you with a non-qm lender that offers bank statement loans in your location. You will be provided with a free quote, and the opportunity to get pre-approved for a bank statement loan.Get a Free quote
This bank statement mortgage calculator is based off of the calculation formula that Citadel Servicing uses for their bank statement program. Please understand that this calculator exists for education purposes, and to provide you with a general idea of how income is calculated for a bank statement loan. We can not guarantee the accuracy of this calculator, or that you will qualify for a bank statement loan based on any data that you input.
Also, please keep in mind that each non-qm lender has a unique formula that they use for their bank statement program. We recommend that you contact these lenders directly to learn more about the calculation formulas that they use.
If you would like some help finding a bank statement lender, we can help match you with a lender that offers these programs in your location. To get matched with a bank statement mortgage lender, please fill out this form.