Side by side
| Bank Statement Loan | Conventional Loan | |
|---|---|---|
| Income proof | 12–24 months deposits | Tax returns |
| Minimum credit | ~620–660 | 620 |
| Min down (primary) | ~10% | 3–5% |
| Rate | Higher | Lower |
| Mortgage insurance | None | PMI under 20% down |
Figures are typical market ranges as of October 2026. Actual terms depend on the lender, your credit, the property and the program, and are confirmed on your Loan Estimate or term sheet.
Explore each option
Self-employed
Bank Statement Loans
A bank statement loan is a non-QM mortgage that calculates self-employed income from 12 or 24 months of personal or business bank deposits instead of tax returns.
Learn more ›
Home loanConventional Loans
A conventional loan is a mortgage not insured by the government that follows Fannie Mae or Freddie Mac guidelines.
Learn more ›
Other comparisons
- DSCR Loan vs Conventional Investment Loan
- FHA Loan vs Conventional Loan
- VA Loan vs FHA Loan
- Fix and Flip Loan vs Hard Money Loan
- Bridge Loan vs HELOC
- Cash-Out Refinance vs HELOC
- DSCR Loan vs Bank Statement Loan
- Lender-Paid Compensation vs Borrower-Paid Compensation
- Fixed-Rate Mortgage vs Adjustable-Rate Mortgage
- DSCR Loans vs Hard Money Loans
- Bank Statement Loans vs Conventional Loans
- Fix and Flip Loans vs HELOC for Renovations
- Cash-Out Refinance vs HELOC for Investors
- FHA Loan vs Conventional Loan
- 15-Year Mortgage vs 30-Year Mortgage
- Buying a Rental with Cash vs Financing a Rental Property
- Local Mortgage Broker vs Rocket Mortgage
- USDA Loan vs FHA Loan
- HELOC vs Home Equity Loan
- DSCR Loan vs Hard Money Loan
- 15-Year Mortgage vs 30-Year Mortgage
- Second Home Loan vs Investment Property Loan
- Warrantable Condo vs Non-Warrantable Condo