For bank statement loans · self-employed · 1099
See the income a lender will find in your bank statements — before they do.
Drop 12 or 24 months of statement PDFs. You get qualifying deposits per statement, with transfers, refunds and loan proceeds taken out, an income estimate after the expense factor, every large deposit you will be asked to explain, and your NSF count and average daily balance. The statements are read in your browser and never uploaded.
Free on screen · Excel workbook & printable report from $2 · no account
Drop 12–24 statement PDFs here
or · all at once, any order — they are sorted by date
Share of business deposits a lender treats as costs. Personal accounts usually take 0%; business accounts commonly 50% unless a CPA letter or P&L supports less.
of average monthly qualifying deposits. 50% follows Fannie Mae's wording; your lender may use a different line.
Per statement
| Period | Deposits | Left out | Qualifying | Withdrawals | Avg daily bal. | NSF |
|---|
Deposits left out — and why
| Count | Date | Description | Reason | Amount |
|---|
Large deposits to source
Underwriters ask where each of these came from. Have the paper trail ready: invoice, gift letter, sale receipt, transfer record.
| Date | Description | Amount | Of avg month |
|---|
Figures computed from the statements as printed. Deposit exclusions, the expense factor and the large-deposit line are the preparer's settings. Lenders apply their own rules; this is not a credit decision or a verification of income.
How a bank statement loan counts your income.
There is no W-2, so the statements are the pay stubs. Most programmes follow the same four steps; this page does each one and shows its working.
Add up deposits
Every credit on 12 or 24 consecutive statements, personal or business account. A missing month is not skipped — it is a gap the lender will ask about, so it is flagged here too.
Take out what is not income
Transfers from your own savings, refunds and reversals, loan and credit-line proceeds. Each one is listed with the reason, and you can overrule any of them with a tick.
Average and apply expenses
Qualifying deposits divided by the number of statements, then reduced by the expense factor for a business account — 50% is common, less with a CPA letter or P&L.
Then the questions they will ask
Shown in the report
- Large deposits over your chosen share of an average month, with a draft letter of explanation filled in with date, amount and description.
- NSF and overdraft charges — many programmes allow only a handful in 12 months.
- Average daily balance and days below zero, per statement.
- Declining deposits: when the second half is well below the first, lenders may use the lower figure.
- Missing or duplicated statements, found by checking each closing balance against the next opening balance.
Not covered
- Scanned statements — the PDF has to come from online banking, with real text in it.
- Your lender's exact rules. Programmes differ in exclusions, expense factors and averaging; this is the common method, not any one lender's guideline.
- Credit decisions. Debt-to-income, credit score and reserves are outside a bank statement.
Before you drop a year of statements.
Are my statements uploaded?
No. Reading, classifying and adding up all happen in this page, in your browser. Disconnect from the internet after it loads and it still works. Nothing is stored after you close the tab.
How do lenders calculate income from bank statements?
Deposits on 12 or 24 consecutive statements, minus the ones that are not income, divided by the number of months. For a business account an expense factor is applied — often 50% — unless a CPA letter or profit-and-loss statement supports a lower one. That is exactly what this page computes, with every step visible.
What counts as a large deposit?
Fannie Mae's rule for conventional loans: a single deposit over 50% of total monthly qualifying income. Bank statement programmes set their own lines. Here it is a setting, 50% of your average month by default, and the flagged deposits get a draft letter of explanation.
Should a personal or business account use the expense factor?
Business account deposits are gross revenue, so lenders take out an expense share. Personal account deposits are usually treated as what is left after business costs, so the factor is typically 0% — choose "Personal account" above.
Is this the number my lender will use?
It is an estimate built the way most programmes work, so you can see it before applying and deal with surprises — a stray transfer, a missing month, a deposit you cannot source — while there is still time. The lender's own figure is the one that counts.
What does it cost?
The on-screen report is free and unlimited. The Excel workbook (summary, per-statement, deposits, large deposits, NSFs, all transactions) and the printable report use pages from a BalancesOut page pack — one charge per set of statements covers both, from $2. Twelve 4-page statements are 48 pages, about $5. Brokers and bookkeepers running reports every week can buy as many months as they need instead — one payment, no renewal. Helping someone with their application? Any pack can be sent as a gift.
Which banks work?
Any statement downloaded from online banking that prints a transaction table with a header row — Chase and Bank of America are verified in detail. If a file is not recognised the page says so; send it and the layout gets added.