Bank Statement Program

Mortgages
Written By David Pipe

A bank statement program allows self-employed individuals or those with non-traditional income to qualify for a mortgage based on bank statements instead of standard income verification.

 

Key Aspects of the Bank Statement Program:

  • Alternative Income Verification: Instead of tax returns, lenders evaluate 12–24 months of bank statements to assess income stability.

  • Ideal for Self-Employed Borrowers: Supports those in freelance, gig, or contract work where income may vary monthly.

  • Flexible Qualification Criteria: Allows borrowers without standard income documentation to access mortgage financing.

 

Overall, bank statement programs offer an accessible path to homeownership for self-employed and freelance individuals.

To learn about which lenders offer the bank statement program, read our Lender Reviews.

 

Learn More About Any of These Terms:

David Pipe

David Pipe helps business owners, investors, and first-time homebuyers build and protect family wealth with creative financing and tax-efficient life insurance solutions. He is an award-winning mortgage agent and life insurance agent in Ontario. David believes education in personal finance and seeking great advice is the best way to reach our financial goals, and he is focused on sharing his knowledge with others. He lives in Guelph, Ontario with his wife Kate Pipe and their triplets (and english bulldog Myrtle).

https://www.wealthtrack.ca/about#about-david-pipe
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