Business Elite

Our Business Bank Statement Elite product allows eligible self-employed borrowers to qualify using business bank statements. No tax returns required.
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  • Loans up to $3 million with a minimum of $150,000
  • 12 or 24 months business bank statements only
  • Foreclosure, short sale, deed-in-lieu or bankruptcy allowed if discharged for 48 months with no delinquencies since the discharge
  • Rates are 30-year fixed
  • Two years self-employed required
  • Borrowers can own as little as 50% of the business for business bank statements
  • Purchase and cash-out or rate-term refinance
  • Owner-occupied and Second Homes
  • 40 year interest only available
  • Most loans will be qualified on an expense factor of 50%. Companies with a lower expense factor will require a statement from a third party CPA or tax preparer. (Some industries with traditionally higher expense factors will be underwritten with a 70% expense factor.)

Angel Oak’s Business Bank Statement Elite mortgage program is the perfect option for self-employed borrowers who need an alternative method to show the true cash flow of their business. Borrowers do not have to own 100% of the business. Our Business Bank Statement Elite program provides a loan solution to help borrowers qualify off their great credit history along with their Business Bank Statements.

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Product FAQ

General FAQ

How Does A Bank Statement Mortgage Program Work?
A bank statement mortgage allows eligible self-employed borrowers to use bank statements to help verify income instead of tax returns. A lender will use these statements to analyze income to prove the ability to repay a loan.
What Is The Difference Between A Bank Statement Loan And A Traditional Mortgage Loan?
Traditional loans will generally require tax returns, W-2s and paycheck stubs in order to verify a borrower’s income. A bank statement mortgage loan offers self-employed borrowers a different option to verify their income without using tax returns.
Are Self-Employed Borrowers Required To Use Bank Statement Loan Products?
A bank statement loan is often a great option for qualified self-employed borrowers. However, self-employed borrowers should choose the best loan product to help meet their mortgage needs.