Bank statement loan rates are built, not posted.
Non-QM pricing is set scenario by scenario. Here is exactly what moves your number, what you can change before applying, and why any single advertised rate you see online probably isn't yours.
Why nobody can quote you honestly in one number
Conventional loans are sold to Fannie Mae and Freddie Mac, so pricing is relatively uniform. Bank statement loans are bought by private investors, each with its own matrix of adjustments. Two self-employed borrowers with identical deposits can receive very different rates because of score, down payment, reserves and occupancy. That is why an advertised non-QM rate is close to meaningless until a real file exists behind it.
What I can do is price your actual scenario across multiple non-QM investors and show you the trade-offs — rate versus points, 12-month versus 24-month, prepay versus no prepay — in plain numbers.
The seven factors that set your pricing
The single largest pricing lever on non-QM. Tiers usually move in 20-point bands, so a small score improvement before application can pay for itself.
Lower loan-to-value means better pricing and wider program access. The jump from minimum down to the next tier is often meaningful.
Verified months of payments in reserve reduce investor risk and can improve both eligibility and price.
Primary residence prices better than second home, which prices better than investment property.
24 months of statements can price better than 12 on some programs because it demonstrates a longer income history.
A documented lower expense factor raises qualifying income, which can move you into a stronger DTI tier and a better price.
Condos, non-warrantable projects, multi-unit and very large or very small loan amounts all carry their own pricing adjustments.
Before you ask for a quote, do these four things
- Separate business and personal banking so deposits read cleanly.
- Stop transferring between your own accounts during the statement window, or be ready to document every transfer.
- Document any large one-time deposit — asset sale, loan, gift — at the time it happens.
- Ask your CPA whether they will provide an expense-factor letter or P&L; it can change both approval and price.
The full deposit calculation is broken down on the requirements page, and program overview lives on bank statement loans Texas.
Rates, points, program availability and terms vary by lender and program, change frequently, and are subject to credit approval and underwriting. Nothing on this page is a rate quote, pre-qualification, approval or commitment to lend.
Bank statement pricing questions.
What are bank statement loan rates today?
Non-QM bank statement pricing is quoted per scenario rather than published as a single rate, because it moves with credit score, down payment, reserves, occupancy, loan size, property type and the specific program. We price your file against multiple non-QM investors and show you the options side by side.
Why are bank statement rates higher than conventional?
These loans are not sold to Fannie Mae or Freddie Mac. They are priced by private investors who account for alternative income documentation, so pricing generally sits above agency pricing. How far above depends almost entirely on the strength of your file.
What lowers a bank statement loan rate?
A higher credit score, a larger down payment, more months of verified reserves, a 24-month documentation window, owner-occupancy, a simpler property type, and a lower expense factor supported by a CPA letter or P&L all tend to help pricing.
Can I buy the rate down?
Most non-QM programs allow discount points to reduce the rate, and some allow temporary buydowns. Whether points make sense depends on how long you expect to hold the loan.
Can I refinance out of a bank statement loan later?
Yes. Many borrowers use a bank statement loan to buy, then refinance into agency financing once their tax returns support the income. Confirm any prepayment terms up front — some non-QM programs, especially on investment property, carry a prepayment penalty.
How do bank statement loans work?
The lender totals eligible deposits over 12 or 24 months, removes transfers and non-business deposits, and applies an expense factor to reach monthly qualifying income. That income drives your debt-to-income calculation and your approval.
How fast can a bank statement loan close?
Timelines are comparable to other purchase loans when documentation is complete. The delays that occur usually trace back to missing statement pages or undocumented large deposits.
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