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Mortgage glossary
Bank Statement Loan
A loan option that may use personal or business bank deposits to help evaluate income, often for self-employed borrowers. The lender reviews eligible deposits and may subtract business expenses. The number of statements and other requirements vary.
In plain language
This term may appear in conversations, forms, or documents during the mortgage process. If something important changes in your situation, ask how it may affect your case before making a decision.
This explanation is general and educational. It is not personalized advice, a loan offer, or a promise of approval.