Bank statement loan rates
If you are looking for a Non-QM Bank Statement Loan, at Andes, we also show you what rates are doing for this program based on different scenarios.
You may find that bank statement loan rates may run higher than conventional loan rates. The reality is that you’re trading a government-backed program that requires tax returns and strict guidelines for flexibility. This is why bank statement loans are powerful and the rates adjust accordingly. We publish bank statement mortgage rates every day so you can see where pricing sits before you ever pick up the phone.
Here’s roughly what self-employed borrowers are looking at right now with a bank statement loan.
What determines your bank statement loan rate?
There’s no single “bank statement rate” — yours is priced off your full profile. These are the six factors that move it most, and where you actually have leverage.
Credit score
The single biggest lever. Each tier up typically shaves your rate.
Down payment (LTV)
More money down means less risk — and a lower rate.
12- vs 24-month bank statements
Providing 24 months of statements can price better than 12.
Occupancy
Primary homes price best; second homes and investments run higher.
Loan amount
Very small and jumbo-sized loans can carry pricing adjustments.
Structure & buydown
Points, a prepay option, or reserves can each buy your rate down.
Why bank statement mortgage rates can sometimes run higher than conventional rates?
You have a trade-off with a bank statement loan and one that’s easy to grasp which explains the difference in rates.
A conventional loan gets sold to Fannie Mae or Freddie Mac, so it’s priced off their guidelines and tax-return income. These loans are less risky for lenders as they are sold to the government-sponsored entities and even insured through mortgage insurance.
A bank statement loan qualifies you on deposits instead — which most self-employed borrowers love — but that flexibility puts it outside agency rules, and there’s no Fannie or Freddie buying this paper from the lender. It’s a portfolio loan and therefore, it’s priced for the added risk.
In practice, that’s usually a modest premium over a comparable conventional rate — not the scary number people expect.
For most of our self-employed clients, qualifying for the home they actually want easily outweighs a fraction of a point, and we’ll always show you the real difference for your file. But never just assume that bank statement loan rates are always higher than conventional loans – that’s not necessarily true. Many times, depending on your LTV, FICO and other factors, a bank statement loan may price better than a conventional mortgage.
Here's the rate difference between a conventional loan and a bank statement loan
Conventional loan rates
7.383%
30-yr fixed · 7.39% APR
Bank statement loan rates
7.375%
30-yr fixed · 7.538% APR
0.01% lower
Conventional loan rates: Market average. Assumes 740+ credit · 20% down · conforming loan amount
Bank statement loan rates: Assumes 760+ credit score · 25% down · owner-occupied home.
Bank statement rates are representative of Andes Mortgage's current bank statement loan pricing for the scenario described. They are not a commitment to lend or a locked rate, and every loan is subject to full underwriting and approval. Last updated Sep 30, 2026.
These rates are a few days old — ask us for today's pricing.
Representative bank statement rates by scenario
A rough guide to how your profile moves your rate. These are real life rates priced daily through our top wholesale lenders — the live daily numbers come from the rate module above.
| Scenario | FICO | Down | 30-yr fixed |
|---|---|---|---|
| Strong file, primary home | 760+ | 25% | 7.375% 7.538% APR |
| Building credit | 680 | 20% | 7.625% 7.778% APR |
| Investment property | 720 | 25% | 7.625% 7.914% APR |
| Lowest down payment | 760 | 10% | 8.250% 8.378% APR |
Bank statement rates are representative of Andes Mortgage's current bank statement loan pricing for the scenario described. They are not a commitment to lend or a locked rate, and every loan is subject to full underwriting and approval. Last updated Sep 30, 2026.
These rates are a few days old — ask us for today's pricing.
How to get a lower bank statement rate
- Raise your score. Even one credit tier up can move your rate.
- Put more down. A lower LTV prices better — 25% beats the 10% floor.
- Add a CPA letter. It can lower your expense factor to 10% — a stronger, better-priced file.
- Bring 24 months of statements. More history often prices better than 12.
- Buy it down. Discount points or extra reserves can lower your rate at closing.
See your real numbers
Your rate follows your file. Start by seeing how much of your deposits count as income, then we’ll price it precisely.
Looking to qualify for a bank statement loan?
Self employed borrowers can finally qualify for a mortgage loan without having to show tax returns for income. Instead, 12 or 24 months of bank statements, personal or business will help you qualify.
How Andes Mortgage publishes bank statement loan rates
Updated daily
Representative profile
Where the numbers come from
Your actual rate
By: Marcos Zambrano, NMLS #988935 | President | Andes Mortgage LLC | NMLS #2187991
Related to bank statement loans
How bank statement loans work
The full program. Qualifying requirements, and who they are built for.
Bank statement loan rate FAQ
Are bank statement loan rates higher than conventional?
Usually a little, yes — you’re trading tax-return income for flexibility, and that puts the loan outside agency guidelines. For most self-employed borrowers the difference is modest and well worth qualifying for the right home. We’ll show you the real gap for your file.
How often do rates change?
We update the representative rates on this page daily. Your locked rate reflects pricing on the day we lock, based on your full application.
Can I buy down my bank statement loan rate?
Yes. Discount points, a larger down payment, and stronger reserves can all lower your rate. We’ll lay out the cost-vs-savings so you can decide the best route for you.
Does a CPA letter get me a better rate?
Maybe. A CPA letter can lower your expense factor to as little as 10%, which strengthens your file and your qualifying income which lowers your debt-to-income ratio. Depending on your lender, DTI may affect the rate you qualify for.
What's the rate for a 12 month bank statement loan vs 24 months?
24 months of statements often prices a little better than 12, because it shows more income history. If you can provide 24, it’s usually worth it.
Let's find out if your bank statement loan can close
Start with the Mortgage Match™ and we’ll route you to the right self-employed program. Or book a call with us and tell us your scenario.
Andes Mortgage LLC · NMLS #2187991 · Marcos Zambrano MLO NMLS #988935. Licensed for consumer lending in Georgia, Florida, Texas, South Carolina and Alabama. Business-purpose (DSCR) lending available in additional states.
This page is for informational purposes only and is not a commitment to lend, an offer of credit, or a guarantee of any rate, term or program. Loan approval, loan-to-value limits, credit-score minimums, reserve requirements and condo-project eligibility are subject to full underwriting, current lender and agency guidelines, and verification of the specific project. Rates and programs are subject to change without notice. Equal Housing Lender.