Credit: ~620–640 floor (700+ best). Down: 10–20% primary (up to 90% LTV well-qualified), 20–25% investment. Statements: 12 or 24 months, personal or business. Income: deposits ÷ months, minus an expense factor (~50%) on business accounts. Reserves: 3–6+ months. DTI: up to ~45–50%. Property: 1–4 unit residential. See Eligibility for who qualifies.
On this page
Credit & down payment tiers
Credit and down payment move together — a higher score lets you put less down and get a better rate. Illustrative 2026 tiers:
| Credit score | Typical min. down (primary) | Pricing |
|---|---|---|
| 720+ | 10–15% | Best rates |
| 680–719 | 15–20% | Strong |
| 660–679 | 20–25% | Moderate premium |
| 620–659 | 25%+ | Higher premium |
Well-qualified borrowers can reach 90% LTV (10% down) on a primary residence. Investment properties typically require 20–25% down and a stronger credit profile. See Rates for how these tiers price.
Statements & how income is calculated
This is the heart of the program. Instead of tax returns, the lender uses your deposit history:
Choose 12 or 24 months
24-month programs often price better or allow higher LTV (longer consistency). 12-month suits a recent income increase or newer business. Statements must be consecutive, all pages, no gaps.
Personal or business statements
Personal works for sole proprietors running income through one account. Business shows higher volume but carries an expense factor.
Deposits become income
Eligible deposits are totaled and divided by the months. Transfers and non-income items are removed.
The expense factor
On business accounts, an expense factor (~50%) is applied. A CPA letter documenting lower actual expenses can raise qualifying income.
Reserves, DTI & self-employment history
| Requirement | Typical 2026 standard |
|---|---|
| Reserves | 3–6 months of payments (6–12 for higher LTV / lower credit) |
| DTI | Up to ~45%, some programs to ~50% |
| Self-employment history | Usually 2 years same field (some 12-month w/ strong factors) |
| Mortgage insurance | None — no MI at any LTV |
Retirement and investment accounts typically count toward reserves, and 12+ months of reserves can buy down your rate tier.
Property types & documents
Eligible property: residential 1–4 units — primary, second home, or investment. Commercial and 5+ unit multifamily need separate programs.
Documents you'll provide: 12–24 months of statements, a business license or proof of self-employment, sometimes articles of incorporation or a CPA letter, ID, and asset statements for down payment and reserves — but no tax returns for income. See the Process.
Bank statement requirement FAQs
What credit score do I need?
~620–640 floor; 700+ for best rates and higher LTV. Higher credit lowers your down-payment tier too.
How much down?
10–20% primary (up to 90% LTV well-qualified), 20–25% investment. Lower credit = more down.
How is income calculated?
Deposits ÷ months; business accounts get a ~50% expense factor (a CPA letter can improve it).
12 or 24 months?
Both common — 24-mo often prices better; 12-mo suits a recent increase or newer business.
Reserves?
3–6 months typical (6–12 for higher LTV/lower credit). Retirement/investment accounts usually count.
Reviewed by the licensing team at Save Financial, a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766) founded in 2009 and serving all 58 counties from offices in Newport Beach and Marina del Rey.