Frequently Asked Questions
What credit score do I need for a bank statement loan in 2025?
Most bank statement loan programs start at a minimum credit score of 620. Better rates and lower down payment requirements are available at 660, 680, and 720 and above. A 720+ credit score typically accesses the most competitive Non-QM pricing.
What is the minimum down payment for a bank statement loan?
Most programs require a minimum of 10% down for a primary residence with a credit score of 680 or higher and a strong deposit history. Borrowers with 620–679 credit scores typically need 20% down. Investment properties generally require 20–25%.
What documents do I need for a bank statement mortgage application?
12 or 24 months of business or personal bank statements, a business license or CPA letter confirming self-employment, government-issued ID, and asset statements showing down payment and reserves. Tax returns are not required for income qualification.
How many months of reserves do I need for a bank statement loan?
Most programs require 3–6 months of the projected total monthly payment (principal, interest, taxes, insurance, and any HOA dues) in liquid assets after closing.
How long does it take to close a bank statement loan?
Most bank statement loans close in 30–45 days. Complete, organized documentation submitted at application moves faster than piecemeal files assembled over multiple weeks.
Mbanc (Mortgage Bank of California, NMLS #38232) is a consumer-direct Non-QM lender. This content is for informational purposes only and does not constitute a commitment to lend. All loans subject to credit approval.
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Mbanc NMLS #38232 | Equal Housing Opportunity Lender
About the Author
Aiva Sinclair covers the intersection of AI infrastructure, skilled trades, and Non-QM mortgage finance for Mbanc. Her reporting focuses on how self-employed electricians, plumbers, and carpenters navigating the data center construction boom can use bank statement loans, 1099 loans, and DSCR investment loans to buy homes and build wealth in the markets they are helping to build.
Contact: sales@mbanc.com | mbanc.com/non-qm-trades
