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BANK STATEMENT LOANS

Key Program Features

Min Credit Score
600+

Loan Amount Max
Up to $4 Million

Max DTI
50%

Max Loan-to-Value
  • Purchase: 90%
  • Cash-out Refi: 80%
Bank Statements
  • 12–24 Months
  • Personal or Business
Property Type
  • Single Family
  • PUD
  • Townhome
  • 2–4 Unit
  • Warrantable/Non-Warrantable Condo

Bank Statement Mortgage Loans in Chicago – Built for Self-Employed Homebuyers

If you’re self-employed in Chicago or the surrounding areas, you know how hard it can be to get a mortgage using traditional methods. At NEO Home Loans, we specialize in Bank Statement Mortgage Loans designed for entrepreneurs, freelancers, and business owners like you.

Forget the W-2s and complicated tax returns. We look at 12–24 months of your personal or business bank statements to qualify you based on your real income—not just what shows up after deductions.

Top Features of Our Bank Statement Loan Program

Low Minimum Credit Score (600+)

Most alt mortgage programs require a 660–700+ credit score. We go as low as 600 for strong income borrowers.

Ideal for: Credit-challenged self-employed buyers.

Loan Amounts Up to $4 Million

Go beyond conventional limits. Designed for high-income professionals and entrepreneurs.

Ideal for: Jumbo loan buyers using business income.

Business or Personal Statements

Use 12–24 months of personal or business statements—whichever best reflects your income.

Ideal for: Borrowers with complex cash flow.

Up to 90% Loan-to-Value (LTV)

Keep more cash in your business with flexible financing that goes up to 90% on purchases.

Ideal for: Strong income, limited down payment.

Who This Loan Is For

  • ✔️ Self-employed professionals in Chicago or nearby suburbs
  • ✔️ 1099 contractors and small business owners
  • ✔️ Borrowers without traditional W-2s or pay stubs
  • ✔️ Entrepreneurs with strong bank deposit history
  • ✔️ Buyers looking to qualify based on deposits, not tax returns

Why Chicago Borrowers Choose Us

From downtown Chicago to Naperville, Oak Park, Schaumburg, and Evanston, we help self-employed buyers close confidently. Our flexible guidelines and fast approvals make us the go-to for alternative home financing in Illinois.

Find Out If You Qualify

Get pre-qualified in minutes with our Bank Statement Loan Pre-Approval Tool.

No tax returns required. No pressure. Just answers.

Start Your Pre-Approval

Frequently Asked Questions

Can I qualify with just 12 months of bank statements?
Yes. We offer options for both 12 and 24 months of business or personal statements, depending on your unique profile.

What types of properties are eligible?
We accept single-family homes, townhomes, 2–4 unit properties, and warrantable/non-warrantable condos.

Do I need tax returns or W-2s?
Nope. Bank statement loans allow you to qualify without traditional income documentation like tax returns or W-2s.

What’s the minimum credit score needed?
We allow credit scores as low as 600—many other lenders require 660 or higher.

Can I use this loan in the suburbs of Chicago?
Yes. We serve borrowers in the greater Chicago area, including Naperville, Schaumburg, Oak Brook, Evanston, and beyond.