Quick answer
Most bank statement mortgages ask for 12 or 24 months of statements. Our program uses 12. The lender averages your qualifying deposits over that period to calculate monthly income, so the statements need to be complete, consecutive and easy to follow. Transfers between your own accounts and one-time deposits are usually excluded. Program terms are examples and subject to approval.
12 months or 24 months?
Bank statement programs generally fall into two groups: 12-month and 24-month. Our program uses 12 months.
- 12 months reflects your most recent year. It suits businesses that are growing, because older, smaller months are left out.
- 24 months smooths out seasonal swings, which can help if one stretch of the year was unusually slow. Fewer lenders need it, and it means more paperwork.
The statements must be consecutive and complete, every page included, even the blank ones.
What underwriters look for
- Steady deposits. Income does not need to be the same every month, but a consistent pattern is easier to approve than one huge month and eleven quiet ones.
- Where deposits come from. Customer payments count. Transfers from your savings, loan proceeds and refunds usually do not.
- Large or unusual deposits. Expect to explain anything well above your normal pattern, usually with a short letter and supporting document.
- Overdrafts and returned items. A few can be explained. A pattern of them raises questions about cash flow.
- The business itself. Lenders confirm the business exists and is active, often through a CPA letter, business license or similar record.
Business statements or personal statements?
Either can work. With business statements, the lender applies an expense factor because some of those deposits pay business costs. With personal statements, deposits that trace back to your business can be used more directly. If you use both kinds of account, we will look at which set gives the clearest and strongest picture before you apply.
How to get your statements ready
- Download official PDFs for all 12 months from your bank, not screenshots.
- Keep business and personal money separate where you can. Mixed accounts take longer to review.
- Note any large deposits and keep the paperwork that explains them.
- Avoid moving money around between accounts in the months before you apply.
For the full picture of the loan itself, see our bank statement mortgage guide.
FAQ
Can I get a mortgage with only 12 months of bank statements?
Yes. Our bank statement program uses 12 months of statements to calculate income, with credit scores down to 640 and up to 80% loan-to-value.
Do bank statements have to be business accounts?
No. Business or personal statements can work. Business deposits usually have an expense factor applied; personal deposits that trace back to your business can be used more directly.
Do transfers between my accounts count as income?
Usually not. Transfers between your own accounts, loan proceeds and refunds are generally excluded from qualifying deposits.
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