Arizona Bank Statement Loans Made Simple.

Bank statement loans in Arizona are based on a borrower’s bank statements instead of traditional income verification—such as W-2s and financial statements—to determine loan eligibility. This gives self-employed borrowers an alternative that generally gives them more flexibility and the opportunity to buy or refinance a home.

Learn more about bank statement loans from Griffin Funding and find out if it’s the right mortgage program for you.

What Is a Bank Statement Loan and How Does It Work in Arizona?

A bank statement loan is a non-qualified home mortgage loan (non-QM loan) that allows borrowers to demonstrate their ability to pay back their loan through the information included on their bank statements.

Generally, borrowers need 12 or 24 months of bank statement information to show their lenders as well as a decent credit score. However, in some cases, fewer bank statements are required.

Bank statement loans tend to be well-suited for consultants, independent contractors, realtors, online influencers, content creators, and the like. These loans also tend to be a flexible option for retirees who don’t have a steady income to show they can afford a loan.

What Types of Bank Statement Loans Are Offered in Arizona?

We currently offer two loan options for self-employed borrowers in Arizona:

• Personal Bank Statements: Qualify on 12 or 24 months bank statements. We count 100% of deposits as income.
• Business Bank Statements: Qualify on 12 or 24 months bank statements. We count 50% of the deposits as income.

It is possible for borrowers to use bank statement loans in Arizona as purchase loans as well as for refinancing. Through certain refinancing options, self-employed borrowers can then use the cash they get for up to 85% of the value of their home to use towards paying off their debt.

Bank Statement Purchase Loans in Arizona

Self-employed borrowers can use bank statement loans to purchase a home without traditional income documentation like W-2s or tax returns. Instead of standard proof of income, lenders evaluate 12 to 24 months of personal or business bank statements to verify consistent cash flow and income stability.

These loans allow borrowers to qualify based on actual bank deposits, making them ideal for entrepreneurs, freelancers, and gig workers. Many lenders offer competitive rates and flexible down payment options, though down payment requirements may be higher than with conventional loans.

Bank Statement Refinance Loans in Arizona

Self-employed borrowers can also use bank statement loans to refinance an existing mortgage, even without traditional income proof. A bank statement cash-out refinance loan allows the borrower to tap into their home equity — up to 85% of the property’s value in some cases.

A bank statement cash-out refinance provides liquidity that can be used to pay off high-interest debt, invest in a business, or cover major expenses. Just like with purchase loans, income is verified through bank statements rather than tax returns, making it easier for self-employed individuals to qualify.

Where Are Bank Statement Loans Available in Arizona?

Not in one of these cities? No problem. Griffin Funding provides bank statement loan options across Arizona as well as in surrounding states such as California, Nevada, New Mexico and Colorado.

What Are the Requirements for a Bank Statement Loan?

In order to qualify for a bank statement loan, prospective borrowers must have:

• At least two years of self-employment or business ownership.
• A minimum down payment of 10%.
• A credit score of 620 or higher.
• Four months of PITI reserves for loans under $1 million.
• Six months of PITI reserves for loans over $1 million.
• 12 to 24 months of personal or business bank statements to verify income.
• Proof of business ownership, such as a license or CPA letter.

Note that for bank statement loans, the minimum loan amount is $100,000 and the maximum loan is $5,000,000.

Advantages of Arizona Bank Statement Loans

Bank statement loans in Arizona are designed to support the needs of self-employed borrowers and offer the following key benefits:

• Qualify without tax returns or W-2s
• Secure a loan with as little as 10% down (with a credit score of 660+)
• Ability to borrow up to $20 million.
• Interest-only and fixed- or adjustable-rate mortgages available.
• Qualify with a DTI ratio as high as 55%.
• Cash-out refinance up to 85% of the property’s value.

Think a bank statement loan in Arizona might be a good fit for you? Get started online today and connect with one of our loan officers, who can review your unique financial profile and present you with financing options that align with your goals.

Who Should Consider a Bank Statement Loan in Arizona?

Bank statement loans in Arizona are a great option for individuals whose income isn’t easily documented through traditional means. Bank statement loans in Arizona can be especially beneficial for:

• Business owners and self-employed professionals
• Gig workers with variable or irregular income
• Retirees looking to refinance without traditional income proof
• Freelancers and independent contractors
• Consultants and others with non-traditional income streams
• Borrowers with income heavily adjusted by deductions or business write-offs

Why Choose Griffin Funding?

Griffin Funding is proud to offer a wide variety of flexible loan options for self-employed borrowers, including our Arizona bank statement loans. We strive to provide white-glove, five-star customer service, all while making the lending process as smooth as possible, so you can get the funds you need to move forward with your purchase or refinance.

What Other Types of Loans Are Available for Self-Employed Borrowers?

Griffin funding can help borrowers in Arizona find the right mortgage option even if they don’t qualify for a bank statement loan. Here are some other loan programs we offer that might be better suited to your circumstances:

• Asset-based loans: With asset-based loans, your assets are used to show that the loan can be repaid.
• DSCR loans: With debt service coverage ratio loans, approval is based on a property’s cash flow instead of the borrower’s income. We will calculate the DSCR of the property to determine whether you are eligible for the loan—the higher the DSCR, the better the loan terms.
• VA loans: VA loans are backed by the federal government but issued through private lenders. These programs are aimed at providing active and veteran service personnel and their families with Arizona home loan options.

Not sure which loan option is best for you? Speak with one of our knowledgeable loan specialists who can help you through the process today.

Ready to Apply for a Bank Statement Loan in Arizona?

The team at Griffin Funding is dedicated to helping more self-employed borrowers and business owners in Arizona find the right mortgage loan for their needs.

If you think a bank statement loan might be the right solution for you, get started online or call us at (855) 698-1098 to connect with our team. Our experts can help you secure a bank statement mortgage loan in Arizona quickly and efficiently.