As a first time home buyer, I was nervous about navigating the mortgage process, but the team I worked with at LIT financial provided exceptional support. From start to finish, the process as smooth, easy to understand, and stress free. I want to give recognition to the specific team members, Kris Hermann, Anthony Marshall, and Ryan McGran for their outstanding support. I appreciated the follow up phone calls and emails - their communication with me was excellent and effective. I highly recommend LIT financial, especially for first time home buyers! Thank you again to Kris, Anthony, and Ryan for such… Read more →
Bank statement loans. Use your stellar financial record as an asset.
LitFinancial believes good banking behavior deserves a reward.
Best for self-employed buyers or those with non-traditional income looking for bank-backing.
No SSN required. Zero impact to credit.
Your information is never sold.
★★★★★Rated 4.9/5 stars
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No Social Security number needed.
No effect on your credit score.
Your details are never shared or sold.
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What is a bank statement loan?
Bank statement loans examine a borrower’s income history, as verified by their bank, as well as their credit score and history to assess the amount a bank is willing to loan a borrower. This type of loan typically requires additional insurance and a higher down payment.
Is this loan right for me?
If you’re a freelancer, or self-employed person who operates on more 1099 income than W2s, odds are this loan would be right for you. Bank statement loans essentially confirm your income, and then leverage a loan against your income.
How can LitFinancial help?
You work hard for your money. Let LitFinancial help your money work for you. Our team of experts will examine every minute detail of your loan deal to make sure you have the rates and terms that are the best for you.
Frequently Asked Questions
Let's help make things clearer.
It’s a mortgage for self-employed borrowers where you qualify using your bank deposits, not tax returns.
Lenders add up your monthly deposits and use that income to see what you qualify for. No W-2s or tax returns needed.
Self-employed people like business owners, freelancers, contractors, gig workers, and independent professionals.
Most programs use 12 or 24 months of personal or business bank statements.
Yes. Lenders apply an expense factor to estimate income based on the type of business.
Most lenders look for 620–680+, depending on your down payment and financial history.
Typically 10%–20% down, but some lenders offer lower options with strong credit.
Yes, they’re usually a bit higher because they involve more risk and flexible documentation.
No. Tax returns are usually not required—that’s the main benefit of this program.
Primary homes, second homes, and investment properties depending on the program.
Often no, especially with a larger down payment.
Your income is based on your deposits, not what's on your tax return. The stronger your deposits, the more you qualify for.
Yes. You can do both rate-and-term and cash-out refinances.
Many programs require 3–12 months of reserves depending on loan size and credit.
Yes—you can qualify using deposits from multiple bank accounts if they’re documented properly.
Yes. Bank statement loans are great for people with uneven or seasonal income.
Some programs include them, especially on investment properties. It varies by lender.
The deposits must be business-related. Lenders may ask for explanations on large or unusual deposits.
Yes. That’s why bank statement loans exist—they focus on gross deposits, not taxable income.
It’s a great option if you're self-employed and want to qualify based on real income coming into your bank account rather than your tax returns.
Get started with our quote tools.
Whether you’re estimating your mortgage costs, seeking to simplify and save through debt consolidation, or aiming to explore and compare various loan options tailored to your needs, our intuitive tools are here to guide you every step of the way.
No SSN required. Zero impact to credit. Your information is never sold.
Why choose LitFinancial?
Experience Matters
When it comes to loan officers, we are experienced experts and take pride in leveraging our knowledge to help you every step of the way.
We Are Your Advocate
Our loan officers are advocates through -out your lending journey. From finding the right mortgage plan, to proactively engaging with key stakeholders on your behalf.
Relentlessly Seeking Solutions
We are committed and passionate about helping borrowers find their best financial fit. We tap our trusted network to look at any and all options.
Lit For Life
Our approach to advising is finding the best solution for each client’s life. We will also be there as your needs change through different life stages.
Advising You Like You’re Family
We are a mortgage partner that takes the time to listen to your needs and goals. We care about each client that tailor our advice for your best outcome.
Leading the Industry
We are constantly modernizing lending models, streamlining treasury operations, and increasing transparency across mortgages. This allows us to bring innovative products and better service to you.
Chris Solinski, Branch Manager
“Nothing is impossible. The word itself says ‘I'm possible!’”
People like LitFinancial
When you love what you do, it shows.
I worked with David Clark from Lit Financial after he found me on a cold call. I was immediately struck by his professionalism, his knowledge of the products he could offer and his transparency. We worked together on a project that presented real challenges. David was exceptional from beginning to end. His colleague Sue Bedouin was also fantastic to work with. They are both extremely thorough, exploring every area to ensure a closing that was smooth and drama free. There was not a single time that I called or texted David with a problem or a question that he did… Read more →
Working with the lit financial team helped me secure my first home. From the beginning they were extremely helpful and communicative, answering questions quickly and explaining every step so I felt confident moving forward. Tony and Stephen went above and beyond — they were professional, attentive, and truly cared about getting the best outcome for me and I will be recommending them to all my friends and family. Read more →
I want to give a big shout out to my financial team, Ryan McGran, Ella Conigliaro, and Emilie Lemond. They were very easy to work with and kept me informed from beginning to end. I have never had customer service like this anywhere. I really appreciate their communication and there responsiveness to anything I ask throughout the process. I can not say enough about them. If you are in the market for a loan you should consider Lit Financial these people are wonderful. Read more →
I started out working with Amanda Ayoub and she was very attentive and considerate. She sensed my apprehension but was aware of my need to secure a loan to do some things to my house. She was expedient and disciplined in her approach and our journey was flawless. By the time she delivered me to Sue Beidoun, I felt like we had known each other a lifetime because of the level of comfort I felt. Sue B was no less focused and very intent on crossing the finish line with my home loan aspiration. This team, Amanda A and Sue… Read more →