If you are self-employed, and looking to refinance your mortgage, a bank statement loan may be a good option for you.  Bank statement loans allow you to use your bank statements to verify income instead of tax returns.  These programs are utilized by a wide range of self-employed professionals, including small business owners, freelancers, independent contractors, and many other types of self-employed people.

You can use a bank statement program for both rate/term refinances, as well as cash out refinancing.

What Do Bank Statement Refinance Loans Offer?

Bank statement lenders offer options to refinance with the following potential advantages:

  • Credit scores as low as 500 accepted.
  • Loan amounts available up to $5,000,000.
  • DTI ratios as high as 50.49%.
  • Max LTV of 90% on rate and term refinances.
  • Max LTV of 85% on cash out refinances.
  • Refinancing is available on primary residences, second homes, and investment properties.
  • Personal or business bank accounts can be used.
  • You may have the option to use 1, 12, or 24 months’ worth of bank statements.

The exact requirements to refinance a mortgage with a bank statement loan vary from lender to lender.  You can view some of the best bank statement lenders below.  If you would like some assistance finding a lender, we can help match you with a lender that offers bank statement loans in your location.

Click here to get matched with a bank statement mortgage lender

Bank Statement Mortgage Lenders

Below are 5 of the mortgage lenders that offer bank statement refinance loans:

1 – Citadel Servicing

Citadel offers 12 and 24 month bank statement programs, as well as a one month bank statement program (meaning you may be able to qualify for a mortgage using only 1 month’s worth of bank statements!).  Citadel allows you to use both your personal and business bank statements.

Details of Citadel’s Bank Statement Program:

  • The minimum credit score is 500.
  • Loan amounts are available up to $5,000,000.
  • The highest LTV allowed for a rate/term refinance is 90%.
  • The highest LTV allowed for a cash out refinance is 85%.
  • Available for both owners occupied and investment properties.
  • Citadel offers bank statement loans in the following states:  AL, AR, AZ, CA, CO, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, MD, ME, MI, MN, MT, NC, NE, NH, NJ, NV, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, and WY.

Click here to learn more about Citadel Servicing’s bank statement program

2 – Angel Oak Mortgage Services

Angel Oak offers a 12 month bank statement program, and allows both personal and business bank statements to be used.

Details of Angel Oak’s Bank Statement Program:

  • Loan amounts are available up to $3,000,000.
  • Credit scores as low as 600 are accepted.
  • Up to a 90% LTV with no MI.
  • DTI ratios up to 50%.
  • Available for owner occupied and investment properties.
  • 2 years seasoning after a bankruptcy, foreclosure, or short sale.
  • They offer these loans in the following states:  AL, AZ, CA, CO, CT, DE, DC, FL, GA, IL, IN, IA, KS, KY, LA, MD, MI, MN, MS, NJ, NV, NC, OK, OH, OR, PA, SC, TN, TX, UT, VA, WA and WI.

Click here to learn more about Angel Oak’s bank statement program

3 – Cross Country Mortgage

Cross Country Mortgage offers a 24 month bank statement (only personal bank statements may be used).

Details of Cross Country’s Bank Statement Program:

  • Loan amounts are available up to $2,000,000.
  • They do not have a set minimum credit score, but require good or excellent credit.
  • The highest LTV allowed is 80%.
  • DTI ratios up to 50%.
  • Available for owner occupied, investment properties, and second homes.
  • They offer these loans in the following states:  AL, AK, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, ID, IA, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, and WY.

Click here to learn more about Cross Country’s bank statement program

4 – Northstar Funding

Northstar Funding offers 12 and 24 month bank statement programs.  You may use both your personal and business bank statements.

Details of Northstar’s Bank Statement Program:

  • Loan amounts are available up to $5,000,000.
  • The minimum credit score required is 680.
  • The highest LTV allowed is 90%.
  • DTI ratios up to 50%.
  • Available for owner occupied and investment properties.
  • They offer these loans in the following states:  CA, CO, CT, DC, FL, GA, IL, MD, NC, NJ, NY, OR, PA, RI, and SC.

Click here to learn more about Northstar Funding’s bank statement program

5 – First National Bank of America 

First National Bank of America offers a 12 month bank statement program.  You may use both your personal and business bank statements.

Details of First National’s Bank Statement Program:

  • No minimum loan amount.
  • The highest LTV allowed is 85%.
  • The maximum DTI ratio allowed is 55%.
  • No waiting periods after a bankruptcy, foreclosure, or short sale.
  • They offer these loans in the following states:  AL, AR, AZ, CA, CO, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, MD, ME, MI, MN, MT, NC, NE, NH, NJ, NV, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, and WY.

Click here to learn more about First National’s bank statement program

Need Help Finding a Bank Statement Lender?

The above lenders are just some of the best options for borrowers looking for a bank statement loan.  If you would you like some assistance finding a bank statement mortgage lender, we would be glad to help you.  Please fill out this form, in order to be matched with a lender.