12-24 Month Bank Statement Loan Programs for Self-Employed

Bank Statement Mortgage Programs for the Self-Employed offered in: California, Colorado, Connecticut, Florida, Georgia, Illinois, Maryland, New Jersey, New York, North Carolina, Pennsylvania, Oregon, Rhode Island, South Carolina, and Washington D.C.

NorthStar Funding offers a 24 Month Bank Statement Program.

Borrower Employment Types:

  • Self Employed – Must provide business license, Tax Preparer’s letter or corporate paperwork.

We accept Personal or Business Bank Statements. However, qualifying income will be calculated differently.

Here are some examples:

Personal Bank Statements: 100% of Deposits

Add all deposits for all 24 months and divide that amount by 24 to receive the monthly income amount

Ex. 24 months deposits total = $200,000 / 24 = $8,333 a month income.

Business Bank Statements: 50% of Deposits

Add all deposits for all 24 months, divide by 2, and then divide by 24 to receive the monthly income amount we will give to the borrower.

Ex. 24 month deposit total = $500,000 / 2 = $250,000 / 24 = $10,333 a month income.

The AltQM™ Series makes it possible to say yes.


Purchase | Rate/Term refi | Cash Out refi

For high net worth or self employed borrowers, the AltQM™ Alternative Documentation program features reasonable qualification based on either bank statements or eligible assets.

Program Highlights

Asset Qualification
For High Net Worth Borrowers

  • Min FICO 680
  • Loan amount $200K to $5M
  • Max cash out $1.5M
  • Income qualification based on verified liquid assets
  • 15 & 30 year fixed; 5/1, 7/1, 10/1 ARMS
  • Employment and Income are not required to be disclosed on the 1003
  • Full asset documentation required for funds to close, reserves and qualifying asset requirements
  • Assets can be cash in the bank, stocks, bonds, IRAs, 401ks, mutual funds or retirement accounts
  • Asset levels in the verified accounts are expected to be consistent and sustained

Bank Statements
For Self Employed Borrowers

  • Min FICO 680
  • Loan Amount $200K to $5M
  • Max cash out $1.5M
  • Bank statements with or without asset amortization
  • W-2 co-borrower ok
  • W2 co-borrower income and employment traditionally verified
  • Personal or business statements
  • DTI up to 50% (see Qualifying Rate and Ratios)
  • P&L statement required if business & personal accounts are combined
  • Statements for the most recent 12 month period required
  • Assets must be fully documented
  • Retirement income is usable with verification (1099, award letter, etc.)