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Bank Statement Loans in Louisiana

Updated: August 13, 2026

Louisiana offers below-average home prices alongside a deep port-and-energy economy, from a shotgun home in New Orleans to a primary residence on the North Shore. For self-employed buyers who haven’t been able to qualify through conventional lending, Griffin Funding’s bank statement loans in Louisiana offer a straightforward alternative: qualify using 12 to 24 months of bank statements instead of tax returns, W-2s, or pay stubs.

  • Access home financing using bank statements
  • No tax returns or pay stubs required
  • Purchase, refinance, or cash-out options available
  • Enjoy high loan amounts and flexible terms
  • Competitive bank statement loan rates in Louisiana
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Table of Contents

Why Bank Statement Loans Matter in Louisiana’s Market

Louisiana home prices sit well below the national average, making it one of the most accessible housing markets in the country. For self-employed borrowers, though, that affordability can still feel out of reach, because conventional loans are built around W-2 employees and penalize business owners and contractors who write off expenses on their tax returns.

Here’s why bank statement loans make sense for self-employed borrowers in Louisiana:

  • Louisiana has a deep self-employed and small-business base. The state is home to more than 510,000 small businesses, which represent 99.5% of all businesses in Louisiana. Business owners and self-employed workers make up a meaningful share of the workforce, especially across energy and petrochemicals, port and logistics, tourism and hospitality, commercial fishing, and the trades, and much of the healthcare and institutional demand in those regions runs on outside contractors and consultants rather than just payroll staff.
  • Write-offs make qualifying harder than it should be. A self-employed borrower in the energy, maritime, or hospitality sector who claims significant deductions can show a taxable income far below what they actually earn. IRS data shows that, nationally, sole proprietors report net income at roughly 20-23% of business receipts on average — well below the 50% of deposits Griffin Funding counts toward qualifying income by default. This puts them at a disadvantage for conventional loans. Bank statement loans look at real deposits in the bank account instead.
  • Affordable prices keep loan amounts accessible. With the average Louisiana home value around $219,358, well below the national figure, borrowers can stay competitive when bidding on homes without taking on larger loan amounts. Combined with a low effective property tax rate near 0.55%, lower purchase prices can mean more manageable carrying costs.

Sources: Zillow home value data (June 2026), U.S. Small Business Administration Office of Advocacy, and IRS Statistics of Income (Nonfarm Sole Proprietorships, 2008-2015; SOI Bulletin, Spring 2025).

How Louisiana Bank Statement Loans Work

Louisiana business owners and contractors who write off expenses often show a taxable income far below what they actually earn. This tends to leave them underqualified on paper for conventional loans, even when their cash flow tells a different story.

Bank statement loans qualify you based on cash flow shown in bank statements, rather than traditional tax-return income.

Griffin Funding reviews 12 to 24 months of bank statements and calculates income from actual deposit history. The percentage of deposits that count toward your income depends on whether you use personal or business bank statements. Personal statements count 100% of deposits; business statements typically apply a 50% expense factor, which can go as low as 10% depending on your business type.

To qualify for a bank statement loan, you’ll need:

  • Credit score: 620 minimum
  • Self-employment history: 2 years minimum (or 1 year if you’ve stayed in the same industry)
  • Down payment: 10% with a 680+ credit score; 20% minimum with a 620-679 score
  • Bank statements: 12 or 24 months of personal or business statements showing consistent deposits
  • Property types: Single-family homes, multi-family homes, townhomes, condos, manufactured homes, and rural properties are all eligible
  • LLC ownership: Properties can be held in an LLC

Prior bankruptcy requires a two-year waiting period before applying.

View Bank Statement Loan Requirements

Today’s Bank Statement Mortgage Loan Rates in Louisiana

As a national direct-to-consumer lender, Griffin Funding cuts out the broker markup and keeps non-QM (non-qualified mortgage) rates competitive. Your specific rate depends on your credit score, down payment, loan amount, and buydown points.

Louisiana Housing Markets for Self-Employed Buyers

From the New Orleans and Baton Rouge metros to affordable cities with music- and culture-driven communities to lakeside towns built for a slower page, Louisiana has real options for self-employed buyers at every price point. Here’s where borrowers are buying across the state.

Major Metros

  • New Orleans: One of the most visited cities in the country, New Orleans gives self-employed buyers in hospitality, events, technology, advanced manufacturing, energy, and the trades a client base that runs year-round, backed by the Port of New Orleans and a diverse economy.
  • Baton Rouge: The state capital’s mix of government agencies, LSU, and a major petrochemical corridor gives contractors and consultants a reliable pipeline of institutional contracts, vendor opportunities, and industrial work.
  • Lafayette: Lafayette’s energy economy runs on oilfield services, equipment, logistics, and trades, giving contractors a deep client base, while healthcare and education offer freelancers and service businesses a reliable, year-round source of work.
  • Kenner: Kenner sits next to Louis Armstrong International Airport and inside the New Orleans metro, so a self-employed buyer here reaches hospitality, logistics, and corporate travel demand tied to the airport itself, on top of the broader New Orleans client base. That airport proximity is what you’re paying for, because Kenner runs above the New Orleans metro average.

Affordable Markets

  • Shreveport: With healthcare, manufacturing, technology, and Barksdale Air Force Base driving the local economy, Shreveport offers contractors, trades, and service businesses a wide client pool at one of the lowest entry points of any metro on this page.
  • Houma: Built around offshore energy and commercial fishing, Houma runs on work that regularly relies on outside contractors rather than in-house crews. Equipment maintenance, logistics, welding, and marine trades all see steady demand tied to that industry, rather than to tourism or a single employer. Houma also carries one of the lower price points on this page, so it’s a reachable first purchase while your deposit history is still building.
  • Monroe: Home to the University of Louisiana Monroe and the headquarters of Lumen Technologies, Monroe gives contractors, consultants, and service providers access to a major corporate employer alongside steady university and healthcare demand, at the lowest price point of any metro on this page. For a self-employed buyer, that means a lower monthly deposit threshold to clear while still billing corporate, university, and hospital clients.

Lifestyle Markets

  • Covington & the North Shore: Across Lake Pontchartrain from New Orleans, Covington and St. Tammany Parish trade city density for lakeside living, top-rated schools, and a slower daily rhythm, all within easy reach of the metro. The North Shore typically prices above the New Orleans metro average, so the deposit volume you’ll need here is higher than the metro row suggests.
  • Lake Charles: Set on the lake with a ship channel running to the Gulf, Lake Charles pairs boating and fishing with a festival and Mardi Gras calendar that fills the city several times a year. Calcasieu Parish drew 7 million visitors in 2023, sustaining a hospitality and events economy without New Orleans density or prices. For a self-employed buyer whose income arrives in seasons, a 12-month deposit average reads that business more accurately than a single tax return.

How much needs to flow through your business account to buy in each of these markets? We ran the same formula Griffin Funding publishes for America’s 50 largest metros on Louisiana’s markets. The table below shows the average single-family home value, the estimated monthly payment, and the monthly and 12-month business deposits needed to qualify with a bank statement loan. A lower expense factor may apply with a CPA letter, reducing the required deposits.

Bank Statement Buying Power in Louisiana: Monthly Business Deposits Needed to Buy the Average Home

Metro Avg. Home Value Est. Monthly Payment (PITIA) Business Deposits Needed / Month 12-Month Deposit Total
Monroe $168,011 $1,012 $4,499 $53,991
Shreveport $186,512 $1,124 $4,995 $59,936
Houma $187,372 $1,129 $5,018 $60,213
Lake Charles $203,797 $1,228 $5,458 $65,491
Lafayette $204,853 $1,234 $5,486 $65,830
Baton Rouge $254,515 $1,534 $6,816 $81,789
New Orleans $267,393 $1,611 $7,161 $85,928

*Estimates are hypothetical illustrations based on 12 months of business bank statements with a 50% expense factor (a lower expense factor may apply with a CPA letter), a 20% down payment (with loan amounts up to $3 million), a 6.99% fixed interest rate (7.102% APR), 30-year amortization, Louisiana’s average effective property tax rate of 0.55% as published on our property tax by state page, and homeowners insurance estimated at 0.30% of home value annually. Qualifying assumes a 45% debt-to-income ratio; DTI includes all monthly debt obligations such as auto loans, credit cards, and student loans, and these figures assume no monthly debt other than the mortgage payment. Actual property taxes vary by city and county in Louisiana, and actual insurance and HOA dues vary by property. Home values are Zillow ZHVI averages for single-family homes by metro, data through June 2026. Kenner and Covington & the North Shore fall within the New Orleans–Metairie, LA metro rather than a standalone market, so the New Orleans figures above reflect that combined area. This is not a rate quote, an advertisement of currently available terms, a loan offer, a pre-qualification, or a guarantee of approval; actual rates, APRs, and qualifying requirements vary by borrower, property, and program. Try our Bank Statement Loan Calculator to run your own numbers.

Free Tools for Self-Employed Borrowers in Louisiana

Run the numbers before you commit. These free tools give you an instant read on your buying power and the Louisiana market.

Apply for a Bank Statement Home Loan in Louisiana

Self-employed borrowers with non-traditional income still have options to purchase property in Louisiana. With a bank statement home loan, you can qualify for up to $4.5 million in financing, no tax returns or pay stubs required.

Griffin Funding has helped self-employed borrowers, small business owners, freelancers, tradespeople, and independent contractors qualify for bank statement mortgage loans across Louisiana. We lend throughout the entire state, from New Orleans and Baton Rouge to Lafayette, Shreveport, Covington, and the North Shore.

Reach out today to learn more about how to qualify for a mortgage in Louisiana if you’re self-employed. If you’re ready to get pre-approved and lock in your rate, get started today.

Frequently Asked Questions

Griffin Funding looks for healthy, stable accounts when reviewing Louisiana bank statement loan applications: positive balances, few or no overdrafts, and consistent deposits that reflect ongoing business income. One-time transfers between accounts and unexplained cash deposits are excluded from the income calculation, since those don’t represent reliable earnings. You’ll also need to show adequate reserves remaining after closing.

Griffin Funding accepts both personal and business bank statements for Louisiana bank statement loans. To calculate your qualifying income, eligible deposits are added up over 12 or 24 months and divided by the number of months. Personal statements count 100% of deposits toward income. Business statements apply a 50% expense factor by default, which can go as low as 10% depending on your business type and number of employees. Transfers and unexplained cash deposits are excluded before the calculation runs.

Griffin Funding requires the last 12 or 24 months of personal or business bank statements. You’ll also need to provide personal ID, proof of Louisiana residency, a credit authorization, a completed loan application, business documentation, and a purchase agreement. See our full bank statement loan document checklist to help you prepare ahead of time.

Qualifying for a Louisiana bank statement loan comes down to four main things: your down payment, your credit score, your self-employment history, and your bank statements. Griffin Funding accepts borrowers with a 620 minimum credit score and at least two years of self-employment. A loan officer will review your deposit history to determine your qualifying income and eligible loan amount.

Bank statement loans are primarily used to purchase a primary residence. Griffin Funding’s Louisiana bank statement loans are available for a range of property types, including single-family homes, multi-family homes, townhomes, condos, manufactured homes, and rural properties. That flexibility fits everything from a primary residence in Baton Rouge to a bayou home near Houma.

Griffin Funding typically closes Louisiana bank statement loans in 30 days or less. Once closed, funds are usually disbursed the same day or the following business day. To avoid delays, have your documents ready before you apply and stay responsive to lender requests.

Yes. If you already own a home in Louisiana, a bank statement cash-out refinance lets you tap existing equity without tax returns, so you can put those funds toward your next purchase or improvement. Cash-out refinances are subject to a mandatory 3-day waiting period before funding; purchase loans are not.