Non-QM
Bank Statement Loans in New York, NY
New York homebuyers trust Custom Mortgage for their Bank Statement Loans needs. With deep knowledge of the local market, from Queens to Manhattan, we provide tailored solutions with rates as low as 7.5%.
Key Facts About Bank Statement Loans
CMRE bank statement loans qualify self-employed borrowers using deposit history.
CMRE offers both residential and commercial bank statement programs.
CMRE bank statement loans range from $100,000 to $5,000,000.
CMRE applies a 50%-90% expense factor to business bank statement deposits.
CMRE residential bank statement loans allow up to 90% LTV.
CMRE commercial bank statement loans close in LLC or corporation names.
CMRE processes more bank statement loans than most lenders monthly.
CMRE bank statement programs accept 12 or 24 months of statements.
Program Benefits
Qualify using 12 or 24 months of personal or business bank statements instead of tax returns.
Both residential and commercial bank statement programs available.
No W-2s, no 1099s, no tax returns required.
Personal bank statements: 100% of deposits counted as qualifying income.
Business bank statements: 50%-90% expense factor applied.
Loan amounts $100K-$3M residential; up to $5M commercial.
Available for primary residences, second homes, and investment properties.
LLC/Corp/Trust vesting available for investment and commercial programs.
Interest-only options available for commercial bank statement programs.
1099-only program also available as alternative documentation option.
Program Highlights
Max LTV
90% (residential) / 75% (commercial)
Min Credit Score
660 (residential) / 680 (commercial)
Max DTI
50%
Loan Amount Range
$100,000 - $5,000,000
Amortization Options
Eligible Properties
- Single Family
- Condo
- Townhouse
- 2-4 Units
- 5+ Unit Multifamily (commercial)
- Mixed-Use (commercial)
Program Requirements
Income Documentation
- •12 or 24 months of consecutive personal or business bank statements.
- •Personal: average monthly deposits = qualifying income (100%).
- •Business: average deposits minus expense factor (50%-90% depending on industry).
- •CPA letter confirming self-employment status and ownership percentage.
- •2 years self-employment in same line of work.
Asset Verification
- •Down payment 10%-20% depending on loan amount.
- •6-12 months PITIA reserves.
- •Gift funds accepted for primary residence.
- •Business account funds accepted with CPA letter.
Insurance & Title
- •Homeowners or landlord insurance required.
- •Flood insurance if in FEMA flood zone.
- •Title insurance at closing.
Property Requirements
- •Minimum 660 FICO residential.
- •Minimum 680 FICO commercial.
- •No bankruptcies within 4 years.
- •Clean mortgage payment history past 12 months.
Bank Statement Loans in New York: The Complete Guide
What Is a Bank Statement Loan?
A bank statement loan is a Non-QM product that uses bank statement deposits as proof of income instead of W-2s, pay stubs, or tax returns. Created for self-employed borrowers whose tax returns understate actual earnings due to legitimate deductions. The lender analyzes 12-24 months of deposits to calculate average monthly income. Bank statement loans are originated by specialized lenders like CMRE with dedicated Non-QM underwriting teams.
Personal vs. Business Bank Statements
- •Personal statements: all deposits counted at 100%. Best for sole proprietors and 1099 contractors.
- •Business statements: 50%-90% expense factor applied. Default is 50% (50% of deposits = income).
- •CPA letter documenting lower expense ratio can increase qualifying income significantly.
- •Example personal: $15,000 avg monthly deposits = $15,000 qualifying income.
- •Example business: $30,000 deposits x 50% = $15,000 qualifying income.
- •CMRE allows mixing personal and business statements when both show income pattern.
CMRE Residential Bank Statement Programs
CMRE's residential program covers 1-4 unit properties for primary, second home, and investment. Range: $100K-$3M, LTVs up to 90% for primary residence. Requirements: 660 FICO, 2 years self-employment, 12-24 months statements. Rate-and-term and cash-out refinances available. This is one of CMRE's highest-volume programs with dedicated bank statement underwriters.
CMRE Commercial Bank Statement Programs
CMRE extends bank statement lending into commercial: 5+ unit multifamily, mixed-use, and income-producing commercial real estate. Range: $250K-$5M, LTVs up to 75%. Close in LLC/Corp with interest-only options. Min 680 FICO. CMRE evaluates both borrower bank statements and property income potential.
Bank Statement vs. DSCR vs. Full-Doc
- •Full-doc (conventional/FHA): best if tax returns show strong income. Lowest rates.
- •Bank statement: best for self-employed whose deposits exceed tax return income.
- •DSCR: best for investment properties when you don't want to show any personal income.
- •CMRE strategy: use bank statement for primary residence, DSCR for investment properties.
- •If you qualify full-doc, you'll always get a better rate. CMRE runs both scenarios.
Current Mortgage Rates
30-Year Fixed Rate
6%
as of 3/5/2026 · FRED
15-Year Fixed Rate
5.43%
as of 3/5/2026 · FRED
Rates are national averages and may differ from your actual rate. Contact us for a personalized quote.
Get Your Rate →Bank Statement Loans in New York, NY
New York City mortgage lending. Jumbo, condo, co-op financing for all five boroughs. Custom Mortgage & Real Estate specializes in providing high-fidelity Bank Statement Loans solutions tailored to the unique economic landscape of New York and the surrounding New York County.
Our FinTech-driven approach allows us to offer competitive rates and streamlined processing for homeowners and investors across the entireNew York metropolitan area.
Service Areas & Neighborhoods
Our New York Presence
Local Knowledge. Global Rates.
16501 Ventura Blvd STE 400
Encino, CA 91436
Direct Line
877-976-5669Common Questions About Bank Statement Loans in New York
What are current Bank Statement Loans rates in New York, NY?
Bank Statement Loans rates in New York depend on loan amount, credit profile, and property type. CMRE publishes updated New York rate ranges daily and provides locked quotes within 24 hours of application.
How long does Bank Statement Loans closing take in New York?
CMRE typically closes Bank Statement Loans loans in New York within 21-30 days from application. Pre-approval takes 24 hours, and our NY-licensed team coordinates title, escrow, and appraisal concurrently to save time.
Can self-employed borrowers get Bank Statement Loans in New York?
Yes. CMRE Bank Statement Loans programs serve self-employed New York borrowers using 12-24 months of bank statements instead of tax returns. Business owners, freelancers, and gig workers in New York County qualify under non-QM guidelines.
What documentation does Bank Statement Loans require in New York?
Bank Statement Loans through CMRE requires alternative documentation instead of traditional tax returns. Options include bank statements, 1099 forms, asset verification, or profit & loss statements. Our New York team guides you through the most favorable documentation path.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
CMRE accepts 12 or 24 months. The 12-month option requires 700+ FICO. 24 months provides more data and may help with variable deposits.
Default is 50% (50% of deposits = income). A CPA letter documenting lower expenses (e.g., 30%) means 70% of deposits count, significantly boosting qualifying income.
Yes. CMRE offers residential (1-4 units) and commercial (5+ units, mixed-use) bank statement programs. For investment-only, also consider DSCR loans.
Yes. Bank statement loans require 2+ years self-employment in same field. W-2 employees use traditional documentation. However, 1099 contractors are eligible.
660 FICO for residential, 680 for commercial bank statement programs.
Yes. Bank statement loans cover primary residences with up to 90% LTV (10% down). Most popular use case: self-employed borrowers buying their home.
Yes. 5+ unit multifamily, mixed-use, commercial from $250K-$5M. LLC/Corp vesting, interest-only options. Min 680 FICO.
Alternative to bank statements using 1-2 years of 1099 forms. Simpler docs but requires consistent 1099 income.
Bank Statement Loans by Location
Get local rates, loan limits, and market data for Bank Statement Loans in your area.
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View county-level market data, loan limits, and mortgage rates on our territory pages.
Browse All Territories →TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
