IncomeChecker.com

Bank Statement Loan Calculator

See how a bank statement loan counts your income. Enter your total deposits over 12 or 24 months, remove transfers and other non-income deposits, apply an expense factor, and get your qualifying monthly income and the housing payment it supports.

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Transfers, loans, refunds, gifts

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Set by the lender

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Qualifying monthly income
$7,000.00
Maximum total debt payments
$3,010.00
Maximum housing payment
$2,510.00

How qualifying income is calculated

  • Eligible deposits = total deposits − non-income deposits
  • Qualifying monthly income = eligible deposits × (1 − expense factor) × ownership share ÷ months
  • Maximum total debt = qualifying income × maximum DTI
  • Maximum housing payment = maximum total debt − other monthly debts

Example. With $180,000 in deposits over 12 months and $12,000 of transfers removed, $168,000 is eligible. A 50% expense factor leaves $84,000, so qualifying income is $7,000 a month. At a 43% DTI limit, total debt can be $3,010, and with $500 of other debts the housing payment can be $2,510.

Things to check

  • Bank statement loans are a type of non-QM mortgage. Each lender sets its own rules for the expense factor, the number of months, and which deposits count.
  • A flat expense factor of 50% is a common starting point for business accounts. Some lenders accept a lower factor with a CPA-prepared profit and loss statement, and some personal-account programs count deposits without one. Ask the lender for theirs.
  • Remove deposits that are not business income: transfers between your own accounts, loan proceeds, refunds, and one-time gifts.
  • Rates and down payments on these loans are usually higher than on conforming loans. This calculator shows income only, not whether you will be approved.

Frequently asked questions

What is a bank statement loan?

A mortgage for self-employed borrowers that uses 12 or 24 months of bank statements, instead of tax returns, to work out income.

What is an expense factor?

A percentage of deposits the lender assumes goes to business expenses. A 50% factor means only half of eligible deposits count as your income.

Should I use business or personal statements?

It depends on the lender and how you are paid. Business statements usually get an expense factor; some personal-account programs do not. Ask which the lender prefers for your situation.

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Calculators give estimates from the numbers you enter. They are not tax, legal, or accounting advice.