Andrade Real Estate Services

The 12-Month Bank Statement Program is built for self-employed borrowers who can’t qualify with traditional tax returns. Instead, income is verified using 12 months of consecutive personal or business bank statements—100% of personal deposits or 50% of business deposits (higher with a CPA letter). With loan amounts up to $4 million, LTVs up to 85%, and DTIs up to 50.49%, this program offers flexible options for purchases, refinances, and cash-out transactions.

This program is ideal for borrowers who:

Are self-employed and have difficulty qualifying with tax returns.
Can provide 12 months of personal or business bank statements.
Need higher LTVs (up to 85%) with flexible DTI limits (up to 50.49%).

Property Type	Credit Score	Max LTV	Notes
SFR (1-4 units), Condominium	700+	85%	Owner-occupied.
SFR (1-4 units), Condominium	660 – 699	80%	Owner-occupied.
SFR (1-4 units), Condominium	640 – 659	75%	Owner-occupied.
SFR (1-4 units), Condominium	620 – 639	70%	Owner-occupied.
SFR (1-4 units), Condominium	600 – 620	65%	Owner-occupied.
SFR (1-4 units), Condominium	660 – 699	75%	Non-owner-occupied.
SFR (1-4 units), Condominium	640 – 659	70%	Non-owner-occupied.
SFR (1-4 units), Condominium	620 – 639	65%	Non-owner-occupied.
SFR (1-4 unit), Condominium	600 – 620	60%	Non-owner-occupied.
Manufactured Home (Doublewide+)	600+	60%	Doublewide or larger, built after 6/15/76, on a permanent foundation.
ITIN	700+	70%	Case-by-case approval. Owner-occupied only. Higher rates apply to non-warrantable condos.
ITIN	660 – 699	65%	Same as above.
ITIN	640 – 659	60%	Same as above.

Occupancy Requirement
Primary residence If owner-occupied, at least one borrower must intend to occupy the home as their primary residence within 60 days of closing.
Investment If non-owner-occupied, the borrower(s) can't occupy the home; it must be rented or held for investment, with rental income or reserves meeting Fannie Mae guidelines.

Residency Eligibility
Eligible Valid SSN — must have a valid Social Security Number (SSN). Permanent residents — must provide a valid, unexpired Green Card. Non-permanent residents — eligible with valid visa or Employment Authorization Document (EAD). Individuals with work permits — must provide unexpired documentation. ITIN borrowers — must provide IRS ITIN assignment letter plus valid U.S. government-issued photo ID (driver’s license, passport, etc.).
Ineligible Foreign nationals who do not reside in the U.S. are ineligible. Borrowers without a social security number, or with a number that cannot be validated through the SSA are ineligible. Borrowers with diplomatic immunity are ineligible. Borrowers with expired residency or ID documentation are ineligible. Borrowers previously convicted of mortgage fraud are ineligible.

Income Consistency Requirements
Employment History 12 months consecutive personal or business bank statements required. Personal statements: 100% of deposits counted as income. Business statements: 50% of deposits counted unless a CPA letter verifies lower expenses (up to 90% of deposits allowed, minimum 10% expense factor). Self-employed borrowers must show 2 years in same industry (license, permit, or CPA verification). LOE required explaining business setup, income, and accounts used if multiple.
Notes A business license, permit, or CPA letter confirming the business has been operating for 2 years or more is required. Up to 3 bank accounts may be used (must be consecutive, cannot mix personal and business). Must provide LOE describing business name, setup (LLC, Sole Prop, etc.), nature of business, employees, and monthly income. Maximum 6 returned checks for insufficient funds in the last 12 months (waived if ≤ 80% LTV and ≤ $1.5M). Large deposits outside average must be sourced. No 4506 or P&L required. All account holders must be on loan/title (exceptions case-by-case). Rental history may be used as tradeline if documented with VOR or canceled checks.

Income Type	Requirement	Documentation
Bank Statement (Personal)	12 months required.	12 months consecutive statements; all pages.
Bank Statement (Business)	12 months required.	12 months consecutive statements; all pages + CPA letter if using >50% of deposits.
All Types	Proof of business.	In addition, a business license, permit, or CPA letter is required to confirm the business has been operating for 2 years or more. If a CPA letter is used, the CPA does not need to be the borrower’s personal CPA, provided they have reviewed the borrower’s business documentation, and must include proof of certification (CPA license or CTEC verification).

Loan Amounts
Minimum Loan Amount $100,000.
Maximum Loan Limits Up to $1,000,000 (ITIN program), Up to $4,000,000 (Owner-occupied), Up to $3,000,000 (Non-owner-occupied), Loan amounts above $4,000,000 may be considered on a case-by-case basis.

Non-Occupant Co-Borrowers
Eligibility Available only for owner-occupied transactions, Must be on title and loan, Income, assets, and liabilities are included in qualification, All individuals listed on the bank statements must also be included on the loan and title (case-by-case exceptions possible).
LTV Limits & Exceptions Non-occupant co-borrowers do not increase the allowable LTV.

Property Types
Eligible SFRs (Single-Family Residences), 2–4 Units (must occupy one unit), PUDs (attached/detached), Condominiums (attached/detached; warrantable only. Non-warrantable considered case-by-case), Manufactured Homes (doublewide or larger, built after 6/15/76, on a permanent foundation; moved homes allowed if DMV title is retired).
Ineligible Manufactured Homes (Singlewide, or built before 6/15/76, or no permanent foundation, or parks/subdivisions with lot rent.) Non-Warrantable Condominiums (if >50% investor-owned, >15% HOA delinquencies, litigation, or >25% single-entity ownership; unless approved case-by-case), Condo Hotels or Motels (projects operated as hotel/motel, hotel/motel conversions), Commercial property, Vacant land or land development properties.

Disclaimer – This matrix was published on 09/20/2025. Program guidelines may have changed since then. Please contact Alexis to confirm the most current requirements. For complete details, refer to the Partner Matrices PDF or reach out directly to Alexis for program-specific guidance.

Rate & Term

Leave a Comment Cancel reply

Explore

Get inTouch