Best Bank Statement Loan Lenders in 2026: LendFriend vs. Griffin, Angel Oak, Acra, NASB and New American Funding

Self-employed borrowers have plenty of mortgage lenders willing to advertise bank statement loans. Finding a lender willing to accept bank statements is the easy part. Finding the lender that calculates your income favorably, offers competitive pricing for your exact profile and can get the loan through underwriting without unnecessary drama takes considerably more work.

Bank statement loans are particularly lender-dependent because there is no single universal formula for turning business deposits into mortgage qualifying income. Two lenders can review the same business, the same bank statements and the same borrower and calculate meaningfully different income.

That can affect how much home you can buy, how much you need to put down and whether you qualify at all.

Among the better-known bank statement loan lenders are Griffin Funding, Angel Oak Mortgage Solutions, Acra Lending, North American Savings Bank and New American Funding. Each has strengths. Each also has its own guidelines, pricing and underwriting limitations.

LendFriend Mortgage approaches the transaction differently. As a mortgage broker working with more than 40 wholesale lenders, LendFriend can compare bank statement programs across multiple lenders rather than trying to make every borrower qualify under one company's guidelines. That becomes particularly valuable for jumbo bank statement loans, complicated business structures and borrowers whose qualifying income changes substantially depending on the lender's expense calculation.

Here is how the major options compare.

What Makes One Bank Statement Loan Lender Better Than Another?

The interest rate is important, but it should not be the first number a self-employed borrower compares.

A bank statement lender must first determine how much income it believes the borrower earns. That calculation drives the debt-to-income ratio, which can determine the maximum loan amount, required down payment and sometimes the pricing itself.

Most bank statement programs evaluate several variables:

• Statement period: The lender may use 12 or 24 months of personal or business bank statements. A longer period can help establish stability, while a shorter period can sometimes benefit a rapidly growing business.
• Expense ratio: Business revenue is generally reduced by an assumed or documented level of operating expenses before it becomes qualifying income.
• Eligible deposits: Transfers between accounts, loan proceeds, one-time deposits and other non-business income may need to be removed from gross deposits.
• Credit score: Higher credit scores generally open stronger pricing and higher maximum LTVs.
• Down payment: Bank statement programs can sometimes reach 90% LTV, while other lenders may want 20% or more down.
• Loan amount: A lender that is competitive below $1 million may have very different pricing or guidelines above $2 million.
• Reserves: Larger loans can require substantial post-closing liquidity.
• Property and occupancy: Primary residences, second homes, condominiums, multi-unit properties and investment properties can each receive different treatment.

This is why a generic statement such as "we offer bank statement loans with 10% down" tells only part of the story.

A borrower with a 760 credit score, a 15-year-old consulting company and $150,000 of monthly deposits presents a very different risk profile from a borrower with a 640 score, two years in business and $25,000 in monthly deposits. Both may qualify for a bank statement loan, but the lender that is strongest for one may be mediocre for the other.

Expense Ratios Can Change How Much House You Qualify For

Expense ratios are one of the most important parts of a business bank statement loan.

When a lender reviews business bank statements, it cannot generally assume every dollar deposited into the company represents income available to pay a mortgage. Businesses have expenses. The lender therefore applies an expense factor to estimate how much of the company's revenue is available to the owner.

Suppose a business deposits $100,000 per month.

If the lender applies a 50% expense ratio, approximately $50,000 remains as qualifying monthly income before any other adjustments.

If another program allows a 25% expense ratio after reviewing the type of business and supporting documentation, approximately $75,000 remains.

That is a $25,000 monthly difference in qualifying income without changing the borrower's business, deposits or finances.

For a borrower purchasing a $2 million or $3 million home, the difference can be enormous.

Expense ratios can vary depending on the lender, business type, documentation and whether a CPA or other qualified third party can support the company's expense structure. A professional-services company with little overhead should not necessarily be treated the same as a restaurant, construction business or retailer carrying employees, inventory and significant operating costs.

LendFriend reviews this calculation early because finding a slightly lower mortgage rate does little good if the lender's income calculation reduces borrowing power by hundreds of thousands of dollars. Borrowers can use LendFriend's bank statement loan calculator to see how different deposit and expense assumptions affect estimated qualifying income.

LendFriend's self-employed mortgage process specifically reviews deposits, removes non-income transactions and applies the appropriate expense ratio before pairing the borrower with available lenders.

12-Month vs. 24-Month Bank Statement Loans

More statements do not automatically produce a better mortgage application.

A 24-month bank statement program gives the lender a longer view of the business. That can benefit a company with stable or seasonal revenue because a two-year average smooths out unusually strong and unusually weak months.

A 12-month program can be more attractive when the business has grown.

Imagine a business averaged $60,000 per month in deposits two years ago but is now averaging $100,000. A 24-month average may pull qualifying income downward because older revenue is still included. A 12-month calculation may provide a more accurate picture of the company's current cash flow.

The reverse can also happen.

If recent deposits have declined, using 24 months does not necessarily allow a borrower to ignore the decline. Underwriters still evaluate whether income appears stable and sustainable. A lender may ask questions when recent deposits show a material downward trend.

Lender flexibility becomes useful here. Acra publishes both 12- and 24-month bank statement options for self-employed borrowers, while Griffin also markets 12- and 24-month programs. NASB says it generally begins with 12 months and may review 24 months when the longer period improves or better explains the file.

A broker can run both scenarios and determine whether the additional history helps before the borrower commits to a lender.

Personal vs. Business Bank Statements

Self-employed borrowers can sometimes qualify using personal bank statements rather than business accounts.

Personal statements tend to be straightforward when the business routinely distributes income to the borrower and those deposits can be clearly identified. Business statements may work better when significant cash flow remains inside the company instead of being transferred to the owner personally.

The choice can change the income calculation.

Business statements usually require the lender to account for business expenses. Personal statements may avoid the same expense-factor calculation when the deposits represent distributions that have already passed through the business, although lenders still need to establish that the income is legitimate, recurring and attributable to the borrower.

Ownership percentage also comes into play. Some programs have minimum ownership requirements before business bank statements can be used, and those requirements are not identical across lenders.

There is no reason to assume the account that looks strongest at first glance will produce the strongest mortgage qualification. The statements need to be evaluated within the lender's guidelines.

Why LendFriend Mortgage Is Our Top Bank Statement Loan Choice

LendFriend Mortgage earns the top spot because its strength is not dependent on one bank statement program.

LendFriend works with more than 40 wholesale lenders across conventional, jumbo and Non-QM mortgages. That means a self-employed borrower can be evaluated across multiple bank statement lenders with different approaches to expense ratios, credit, LTV, reserves, property types and loan amounts.

The benefit becomes clear when a transaction sits near the edge of a guideline.

A borrower may qualify for 80% financing with several lenders, but one lender may price much more aggressively at 75% LTV. Another may accept a lower expense ratio. A third may permit a larger loan amount but require additional reserves.

The strongest structure may involve changing lenders rather than changing the borrower.

That ability to compare is especially useful for self-employed home loans, where tax returns frequently provide an incomplete picture of cash flow. Business owners can deduct legitimate expenses, depreciation, equipment purchases, benefits and other costs that reduce taxable income without necessarily reducing their ability to carry a mortgage.

A bank statement mortgage allows underwriting to focus more heavily on the cash moving through the business.

LendFriend reviews 12 or 24 months of statements, identifies recurring eligible deposits and evaluates the expense calculation before selecting a lender. The goal is to know how the file works before an underwriter starts raising questions.

Where LendFriend Mortgage Becomes Particularly Strong: Jumbo Bank Statement Loans

Large-balance bank statement loans expose the limits of many lender programs quickly.

A borrower needing $700,000 may have dozens of options. A borrower needing $3.5 million does not.

LendFriend specializes in jumbo bank statement loans and currently offers qualified borrowers financing up to $7 million, with certain large-balance structures available with down payments as low as 15%. Its jumbo programs can use 12 or 24 months of business bank statements and include fixed-rate and adjustable-rate options.

That creates considerably more room for entrepreneurs buying luxury homes.

LendFriend highlights examples including a $1.6 million mortgage for an Austin CEO whose tax-return income did not support the purchase, a $1.8 million Boca Raton refinance using business deposits and a $3.5 million Atlanta cash-out refinance for an entrepreneur whose current company had only been operating for about a year.

These are the types of transactions where selecting the lender before analyzing the borrower can create problems.

LendFriend Mortgage Pros

• Access to multiple lenders: More than 40 wholesale lending relationships create substantially more room to compare underwriting and pricing.
• Strong jumbo capacity: Qualified borrowers can access bank statement loans up to $7 million.
• Income analysis before underwriting: Expense ratios and deposits can be reviewed before the file is committed to a lender.
• Alternative Non-QM options: If a bank statement loan is not optimal, another structure such as asset depletion may work better.
• Complex-file experience: LendFriend focuses heavily on business owners, high-net-worth borrowers, investors and other borrowers whose income requires more analysis.

LendFriend Mortgage Cons

LendFriend is a broker rather than the final lender, so exact underwriting guidelines depend on the wholesale lender selected for the transaction. That requires the broker to understand which lenders are dependable and which program is most appropriate rather than simply having a long lender list.

For borrowers with highly complex files, that is also where the broker model earns its keep.

Griffin Funding: Strong Specialization, With the Limits of a Direct Lender

Griffin Funding is one of the more visible direct lenders in the bank statement market and has built much of its Non-QM business around self-employed borrowers.

Its bank statement programs include personal and business statement qualification, 12- and 24-month options, and financing with down payments as low as 10% for qualifying borrowers. Griffin's current bank statement materials also advertise financing up to $4 million in many markets, although certain Griffin pages reference higher loan amounts for specific programs or scenarios.

Griffin also deserves credit for emphasizing expense ratios.

Its lender comparison advertises business expense ratios as low as 10% with appropriate CPA verification. That can produce substantially more qualifying income for businesses with genuinely low overhead.

Its product lineup includes fixed-rate mortgages, ARMs and interest-only structures, making Griffin considerably more sophisticated than a traditional lender that offers one basic alternative-documentation product.

The limitation comes from its structure.

Griffin can offer several programs, but they are still the programs Griffin can originate. If Griffin's pricing is excellent for a particular loan, that can work very well. If another wholesale lender happens to treat the borrower's expense ratio, credit tier, reserve requirement or property more favorably, a borrower working directly with Griffin cannot simply have Griffin move the transaction to that competing lender.

A broker can compare the two.

That distinction becomes more important as the file becomes less standardized. Non-QM mortgage pricing can change substantially at specific LTV, credit and loan-amount thresholds. A lender that wins one scenario can lose badly when one variable changes.

Griffin is therefore one of the stronger direct lenders in this comparison. LendFriend ranks ahead of it because the borrower gains another layer of competition between lenders.

Griffin Funding Pros

• Strong focus on bank statement and Non-QM lending.
• Published down payments as low as 10% for qualified borrowers.
• 12- and 24-month statement programs.
• Potentially aggressive documented expense ratios.
• Fixed, ARM and interest-only mortgage structures.

Griffin Funding Cons

The largest limitation is the direct-lender structure. Borrowers can compare Griffin against other companies themselves, but Griffin cannot shop the loan across competing wholesale lenders on the borrower's behalf.

Griffin's own lender comparison acknowledges how widely bank statement requirements, expense calculations and terms can vary between lenders. That variation is precisely why we prefer a broker comparison for more complicated borrowers.

Angel Oak: Deep Non-QM Experience With a More Mixed Service Record

Angel Oak Mortgage Solutions has been a major name in Non-QM lending for years and offers a broad bank statement product menu.

Its current bank statement program advertises loans up to $4 million, qualification using 12 or 24 months of personal or business statements, 30-year fixed and ARM options, interest-only availability and purchase, cash-out, rate-and-term refinance and delayed-financing transactions. Angel Oak also permits owner-occupied properties, second homes and investment properties under its broader bank statement menu.

Those are competitive guidelines.

Angel Oak also has specialized business-bank-statement programs that can accommodate substantial loan amounts and borrowers with significant ownership interests in a business.

The area where borrower feedback becomes more mixed is communication and execution.

Angel Oak has positive reviews, including borrowers who describe smooth transactions and responsive loan professionals. Other public reviews describe poor communication or frustration understanding where the loan stood during the process. Its BBB profile currently carries an A+ rating and also displays individual negative customer reviews concerning communication, which is a useful reminder that a company-level rating and individual borrower experiences can tell different parts of the story.

That deserves consideration with a bank statement loan because these transactions can involve more underwriter interaction than a clean conventional mortgage.

The broker may prepare the file correctly, but the underlying lender still controls underwriting decisions, condition reviews and final approval.

For a borrower choosing Angel Oak because its program fits a difficult scenario, the guidelines can be compelling. We would simply weigh the entire transaction experience alongside the product terms rather than selecting the lender based on the published credit box alone.

Angel Oak Pros

• Long-standing specialization in Non-QM mortgages.
• 12- and 24-month personal or business bank statements.
• Loan amounts reaching $4 million under its published bank statement program.
• Fixed-rate, ARM and interest-only options.
• Programs for primary residences, second homes and investment properties.

Angel Oak Cons

Customer feedback is more mixed around communication than we would like to see for a document-intensive loan. The company also operates heavily through wholesale channels, so borrowers generally experience the transaction through both their originating mortgage professional and Angel Oak's underwriting process.

Acra Lending: One of the More Aggressive Published Credit Boxes

Acra Lending is a wholesale Non-QM lender with a long history in alternative-income mortgages.

Its published 12-month bank statement program is one of the more aggressive programs in this comparison. Acra currently advertises a minimum 600 FICO, up to 90% LTV on purchases, up to 80% LTV on cash-out refinances and loan amounts up to $4 million. The program is available for self-employed and 1099 borrowers and does not require traditional tax-return documentation under the published guidelines.

Acra also offers 24-month bank statement programs and has a pre-screen bank statement analysis process for approved broker partners. That allows a broker to have income reviewed before a full underwriting submission.

The minimum 600 credit score is worth highlighting.

Bank statement borrowers sometimes assume alternative-documentation loans eliminate the importance of credit. They do not. A lower score can reduce maximum LTV, increase pricing and limit available programs.

Acra's lower published floor can keep a transaction alive when another lender will not consider the borrower.

That does not mean someone with a 605 score should automatically choose Acra. If the borrower can improve the score before purchasing, doing so can materially improve the economics of the mortgage.

The same goes for LTV.

A borrower may technically qualify at 90% financing, but moving from 10% to 15% or 20% down can sometimes create a disproportionately large pricing improvement. The right comparison includes both approval and cost.

Acra Lending Pros

• Published minimum FICO as low as 600.
• Up to 90% LTV on qualifying purchases.
• 12- and 24-month bank statement options.
• Loans up to $4 million.
• Dedicated Non-QM specialization.
• Bank statement income pre-screening for approved broker partners.

Acra Lending Cons

Acra's flexibility does not make it the cheapest lender in every scenario. Higher-LTV and lower-credit loans generally come with pricing adjustments, and borrowers with stronger profiles may find more competitive economics from another wholesale investor.

Acra is a good example of why having a lender available is useful without assuming that lender should receive every file.

North American Savings Bank: Portfolio Lending Can Be Useful

North American Savings Bank, or NASB, differs from several other companies in this comparison because it is a federally chartered bank with portfolio lending capabilities.

Portfolio lending can create useful flexibility. The bank can retain mortgages rather than relying exclusively on agency guidelines, allowing it to serve borrowers whose income does not fit a standard W-2 calculation.

NASB's bank statement materials say borrowers can generally use 12 months of statements, with 24 months considered when a longer history improves the analysis. The program is designed for self-employed borrowers and business owners whose deposits provide a more useful income picture than tax returns.

Its published bank statement materials currently show loan amounts around $1.25 million, with higher limits potentially considered depending on qualification. NASB also publishes a 700 minimum credit score for certain versions of its program, while older or separate program materials reference different thresholds.

That makes NASB more conservative than Acra at the lower end of the credit spectrum and considerably smaller than LendFriend's available jumbo bank statement capacity.

A $900,000 mortgage may fit nicely.

A $3 million mortgage requires a different conversation.

NASB can still be appealing to borrowers who value a portfolio bank's underwriting approach and have a transaction inside its preferred range.

NASB Pros

• Portfolio lending capabilities.
• 12- and potentially 24-month bank statement qualification.
• Programs designed specifically for business owners and self-employed borrowers.
• Manual underwriting can help with scenarios requiring more explanation.
• Established bank platform.

NASB Cons

Published bank statement loan amounts are lower than the large-balance limits available through several specialized Non-QM lenders. Published credit standards can also be more conservative than Acra, Griffin and some wholesale alternatives.

New American Funding: A Large National Lender With More Conservative Published Leverage

New American Funding is one of the largest traditional consumer mortgage brands in this comparison and offers bank statement loans through its Non-QM platform.

Its current bank statement page describes qualification using 12 to 24 months of personal or business bank statements and lists a minimum credit score of approximately 620.

Where New American Funding stands apart from several of the specialized Non-QM lenders is leverage.

The company's current published guidance says bank statement borrowers should generally expect to put approximately 20% to 30% down, with typical LTVs around 75% to 80%.

Compare that with Acra's advertised maximum of 90% LTV or Griffin's advertised 10% down options.

That does not automatically make New American Funding expensive or uncompetitive. A borrower already planning to put 30% down may care far more about rate and closing costs than maximum leverage.

For a buyer trying to retain liquidity, however, a 20% or 30% required down payment can materially change the appeal of the program.

Imagine a $2 million purchase.

A 10% down structure requires $200,000 before closing costs and reserves.

A 20% down structure requires $400,000.

A 30% down structure requires $600,000.

A successful business owner may easily have the additional cash and still prefer keeping $200,000 or $400,000 available for the business, investments, reserves or another acquisition.

Maximum LTV therefore becomes a liquidity decision as much as an underwriting decision.

New American Funding Pros

• Large national consumer mortgage platform.
• 12- to 24-month bank statement qualification.
• Published minimum credit score around 620.
• Broad Non-QM and traditional mortgage menu.
• Familiar direct-lender experience for borrowers who prefer a larger institution.

New American Funding Cons

Its published bank statement guidelines generally contemplate 20% to 30% down, which is substantially more conservative than the maximum leverage available through some specialized Non-QM programs.

For borrowers seeking higher LTVs or unusually large jumbo bank statement loans, comparing other lenders is particularly important.

How One Small Change Can Completely Change the Best Bank Statement Lender

Bank statement lender rankings have an unavoidable problem: the best lender depends on the transaction.

Consider a self-employed borrower with a 740 credit score buying a $1.5 million home.

At 20% down, one lender may offer the best rate.

At 25% down, a second lender's pricing adjustment may disappear and make it substantially cheaper.

At 30% down, a third lender may become competitive because the lower LTV qualifies the borrower for its strongest credit tier.

The borrower's income did not change. The property did not change. The amount of additional down payment may have changed by only $75,000, yet the most attractive lender can change entirely.

Expense ratios create an even bigger swing.

Suppose a company produces $80,000 in average eligible monthly deposits.

At a 50% expense factor, qualifying income may be around $40,000.

At a 30% expense factor, it rises to around $56,000.

At a documented 20% expense factor, it rises to around $64,000.

The difference between $40,000 and $64,000 of monthly qualifying income can move a borrower from struggling to qualify for a $1.5 million mortgage to comfortably supporting a much larger loan, assuming the rest of the file qualifies.

That is why shopping only for the lowest advertised bank statement mortgage rate is backwards.

Income calculation comes first.

Then structure.

Then pricing.

Jumbo Bank Statement Loans Require a Different Comparison

A bank statement mortgage becomes more specialized as the loan amount increases.

Large loans create larger lender exposure, larger reserve requirements and fewer investors willing to purchase or retain the mortgage. Credit-score and LTV adjustments can become more restrictive as well.

The pool of lenders at $750,000 is broad.

At $2 million, it shrinks.

At $4 million, it shrinks further.

LendFriend currently arranges qualified jumbo bank statement loans up to $7 million, compared with published maximums around $4 million for Acra and Angel Oak's core bank statement offering.

That additional capacity is useful beyond the obvious $5 million or $6 million loan.

A lender comfortable making a $7 million bank statement loan may also have more appetite for a $2.5 million borrower with a complicated financial profile than a lender whose entire program stops near $1.25 million.

High-net-worth borrowers also tend to have more ways to structure qualification.

A business owner with several million dollars in liquid assets may qualify using bank statements, asset depletion or a combination of income and liquidity depending on the available program. Someone with significant investment property holdings may have another route.

A strong mortgage analysis should compare those structures instead of assuming the first viable bank statement loan is the final answer.

Bank Statement Loans Can Be More Expensive Than Conventional Loans — and Still Be the Better Mortgage

Bank statement mortgages usually carry different pricing from conventional mortgages because the lender is evaluating income using alternative documentation and retaining or selling the loan outside standard agency channels.

That does not make them a last resort.

Consider a business owner earning substantial cash flow while legally reducing taxable income through business deductions and depreciation.

A conventional lender may calculate only $12,000 per month of usable income from tax returns.

A bank statement lender may determine that sustainable business cash flow supports $35,000 per month.

The bank statement mortgage may carry a higher rate, yet it allows the borrower to purchase the appropriate home without changing a tax strategy simply to satisfy conventional underwriting.

The financial decision should consider the complete picture.

How much additional interest does the bank statement loan cost?

How much tax would the borrower potentially pay by giving up valuable deductions?

How much liquidity does a larger conventional down payment consume?

Is the borrower likely to refinance later if tax-return income becomes easier to document?

Does an ARM create a lower initial cost for a borrower who does not expect to keep the mortgage for 30 years?

These questions produce better decisions than comparing two rates in isolation.

Who Should Consider a Bank Statement Loan?

A bank statement loan is most useful when a borrower has strong recurring cash flow but conventional mortgage underwriting does not capture it well.

Common candidates include business owners with substantial deductions, entrepreneurs who retain earnings inside their companies, independent contractors, consultants, agency owners, physicians with private practices, attorneys, real estate professionals, creators and other self-employed borrowers whose income does not arrive as a simple salary.

The borrower still needs to demonstrate an ability to repay.

Bank statement underwriting is an alternative method of documenting income. It is not an absence of underwriting.

Credit, assets, reserves, property value and existing debt still play a role.

Which Bank Statement Loan Lender Is Best for You?

For the borrower who wants a specialized direct Non-QM lender and fits comfortably within its programs, Griffin Funding is one of the stronger choices.

For a borrower with lower credit or who needs an aggressive published LTV, Acra Lending deserves consideration.

For someone who prefers portfolio-bank underwriting and has a loan amount within its range, NASB can make sense.

For borrowers who prefer a large national direct lender and have enough cash for a larger down payment, New American Funding offers a straightforward bank statement option.

Angel Oak has deep Non-QM experience and competitive bank statement programs, although borrowers should consider the mixed customer feedback around communication alongside its program strengths.

For borrowers who want to compare multiple bank statement lenders, need a jumbo loan, have an unusual business structure or want someone to evaluate several potential qualification strategies, LendFriend Mortgage is our top choice.

A broker should be able to explain more than whether you qualify.

You should know how the lender calculated your income, which expense ratio was used, whether 12 or 24 months produces the stronger result, what happens if you change the down payment, whether another lender prices the same file better and whether a different Non-QM program would improve the transaction.

That is the advantage of comparing the market before committing to the lender.

The Bottom Line

Bank statement loans have made homeownership substantially more accessible for successful self-employed borrowers whose tax returns do not reflect the full strength of their finances.

The best programs can use 12 or 24 months of personal or business bank statements, offer down payments well below the traditional 20% assumption and finance multimillion-dollar homes without relying on conventional tax-return income.

The lender selection still has an outsized effect on the result.

Griffin Funding, Angel Oak, Acra, NASB and New American Funding all offer viable bank statement mortgage programs. Their guidelines differ enough that the same borrower can receive materially different income calculations, loan amounts and pricing.

LendFriend Mortgage's advantage comes from being able to make that comparison before asking the borrower to commit to one lender. With access to more than 40 wholesale lenders, specialized bank statement underwriting and jumbo bank statement financing up to $7 million, LendFriend can evaluate the transaction around the borrower's business rather than expecting the business to fit one lender's mortgage program.

For self-employed borrowers, that flexibility can be the difference between getting approved and getting the mortgage structure that makes the most financial sense.