Bank statement loans: More mortgage options for self-employed buyers and homeowners as rates ease
Summary
This article discusses bank statement loans, which allow self-employed individuals and business owners to qualify for a mortgage using bank statements instead of traditional documentation. Hosts who are self-employed or have variable income may find this helpful for purchasing or refinancing a home, opening up new financial options.
Key Insights
- •Mortgage rates have been hovering near 2025 lows, with the average 30-year fixed at 6.22% (Dec 11, 2025), down from 6.60% a year earlier.
- •Bank statement loans allow borrowers to qualify using bank statements (often 12–24 months) instead of W-2s, pay stubs, or tax returns. This is commonly used by self-employed borrowers, business owners, 1099 earners, and commission-based professionals.
Action Items
- ✓Consider refinancing if you want to reduce your rate and payment, consolidate high-interest debt, or switch from an adjustable structure to a fixed one for stability.Effort: mediumImpact: medium
Tools & Resources
- →Freddie Mac: Freddie Mac's weekly survey
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