Bank statement loans are a cornerstone of non-QM lending—especially for borrowers who don’t qualify under traditional income documentation rules. Through Morty, loan officers and brokerages can access top-tier bank statement programs from a wide variety of wholesale lenders.
For an overview of non-QM loans, check out our Non-QM Mortgage guide, and read our detailed Bank Statement Loan explainer for borrower-specific insights. You can also explore our DSCR statement lenders and top asset depletion lenders for other non-QM options.
Real-World Use Cases for Bank Statement Loans
These loans are most commonly used for borrowers who earn well but don’t receive traditional W-2 paychecks. Below are some real scenarios that illustrate how LOs are using them today:
The business owner with strong cash flow but no pay stubs
A self-employed borrower brings in over $250K/year in business revenue, but their tax returns don’t reflect that income due to write-offs. A bank statement loan using 12 months of deposits gives them the purchasing power they actually have.
The 1099 contractor with fluctuating income
An experienced freelancer has great annual income, but month to month, their revenue varies. Traditional underwriting struggles with this variability. A bank statement program based on averaged deposits offers a simpler path forward.
Top Lenders Offering Bank Statement Loans Through Morty
| Lender | Website | Highlights |
|---|---|---|
| Carrington | carringtonwholesale.com | Also offers DSCR, asset depletion, and 1099 programs. |
| JMAC | jmaclenxxding.com | Wide non-QM product menu, including asset utilization and P&L options. |
| Loan Store | theloanstore.com | Offers fix & flip, bridge, and reverse mortgage programs. |
| Angel Oak | angeloakms.com | Full suite of non-QM options including foreign national loans. |
| NewFi | newfiwholesale.com | Known for flexibility and graduated payment programs. |
| Orion | orionlending.com | Full range of non-QM including ITIN and P&L support. |
| Champion Funding | championwholesale.com | Strong foreign national and no-ratio options. |
| Ardri | ardri.ai | Offers bridge, no-ratio, and HELOCs via bank statements. |
| BluePoint | bluepointmtg.com | Simple guidelines and wide product access. |
| PRMG | prmg.net | Offers 12- and 24-month bank statement programs with flexible overlays. |
| Plaza Home | plazahomemortgage.com | Recently added reverse mortgage access through Morty. |
Underwriting Guidelines and Submission Tips
Lenders look at monthly deposits to calculate income. Most require 12 or 24 months of personal or business bank statements. For business accounts, an expense factor—often 50%—is applied to estimate net income. This accounts for business operating costs.
For example, if a borrower deposits $20,000/month into their business account, the lender may apply a 50% expense factor, resulting in $10,000/month of usable income.
Some lenders may ask for a CPA letter, P&L statement, or business license to confirm business legitimacy and cash flow consistency. Strong reserves, a solid credit profile, and clean bank activity (no frequent overdrafts) are also positive indicators.
FAQ
How long does it take to close a bank statement loan?
With Morty’s processing support and lender network, we’ve seen bank statement loans close in under 2 weeks.
Can a self-employed borrower use business statements?
Yes, though lenders will often apply an expense factor. Personal accounts typically allow for a 100% income credit.
Is this available nationwide?
Most of our bank statement lenders support loans in all 50 states. Eligibility depends on the lender and borrower profile.
Which lender is best for my borrower?
Rosey helps you get answers fast when it comes to which lenders work best for your borrower’s profile and scenario.
Why Work with a Broker?
Most retail lenders don’t offer bank statement programs. That’s why independent mortgage brokers—and platforms like Morty—are essential for non-QM borrowers. Through wholesale channels, brokers can offer a wide selection of programs from lenders that specialize in alternative documentation loans.
Morty Advantage: Faster Closes, Better Experience
At Morty, our platform streamlines non-QM from start to finish:
- Lender access: Work with top wholesale non-QM lenders.
- Speed: Our processing & fulfillment team has closed non-QM loans in as little as two weeks. Explore our fulfillment support
- Tech: Use our Point-of-Sale to submit and track non-QM deals.
- Support: Rosey helps you get answers fast when it comes to documentation or income requirements.
Ready to get started? Talk to sales to access these programs and more.
