A bank statement loan lets self-employed Glendale buyers qualify using 12–24 months of deposits instead of tax returns. Typical: 620–640+ credit, 10–20% down, income = averaged deposits × an expense factor (~50%). File with an ITIN? Ask about ITIN options. Full program details.
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How a bank statement loan works
Instead of tax returns, the lender reviews 12 to 24 months of your personal or business bank statements, averages the deposits, and applies an expense factor (often ~50%) to estimate qualifying income. No W-2s, no pay stubs, no tax returns — built for the business owners and independent earners whose write-offs shrink taxable income below what they truly make.
Who it fits in Glendale
Typical terms (2026)
| Feature | Typical |
|---|---|
| Docs | 12–24 months bank statements — no tax returns |
| Credit score | ~620–640+ |
| Down payment | ~10–20% (ITIN often 15–30%) |
| Income calc | Avg deposits × expense factor (~50%) |
| ITIN | Available; can pair with bank statement |
| Rate | ~0.75–2% over conventional |
Terms vary by lender, business type & profile; illustrative for 2026, not an offer.
Bank statement loan FAQs
What is it?
A non-QM loan qualifying on 12–24 months of deposits, not tax returns.
File with an ITIN?
Yes — ITIN loans available, sometimes paired with bank statement income.
Who qualifies?
Self-employed ~2 yrs, 620–640+ credit, 10–20% down.
How's income figured?
Averaged deposits × ~50% expense factor (varies by business).
Higher rates?
Usually ~0.75–2% over conventional; many refinance later. Illustrative.
Save Financial is a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766), serving Glendale from its Marina del Rey office. Nothing here is tax advice.