Areas We Serve

Bank statement loans through Griffin Funding are available to Missourians across the state. No matter where in Missouri you live, you may qualify for a Missouri bank statement loan. Areas we serve include:

  • Kansas City
  • St. Louis
  • Jefferson City
  • Springfield
  • Branson
  • Columbia
  • Joplin
  • Saint Joseph
  • University City

Whether you’re seeking out a bank statement loan in St. Louis or Ozark, we provide financing across the entire state.

Curious about what a Missouri bank statement loan could do for you? Download the Griffin Gold app. There, you can plan your path to homeownership. We’ll help you build a personalized action plan that includes:

  • Tracking and budgeting your finances
  • Monitoring your credit score and learning how to improve it
  • Estimating the impact of a bank statement loan on your credit score
  • Tracking your equity and home value

What Is a Bank Statement Loan?

A Missouri bank statement loan is a unique option available to loan applicants who aren’t able to provide W-2 statements for income verification. Instead, lenders use 12-24 months of bank statements to verify whether an applicant can reasonably afford the loan. These bank statements can come from personal or business accounts, and can even come in the form of profit and loss statements.

Any self-employed person may benefit from a bank statement loan. This includes:

  • Gig workers
  • Freelancers
  • Entrepreneurs
  • Business owners

Bank statement loans fall under the umbrella of non-QM mortgages. In the traditional loan application process, loans undergo the Consumer Financial Protection Bureau’s qualification process using W-2 income verification. Because bank statement loans don’t undergo this specific process, they’re considered non-qualified.

However, this doesn’t make bank statement mortgages particularly risky or unsafe. In fact, for some borrowers, bank statement loans may be a better option.

Why Take Out a Bank Statement Loan in Missouri

If you’re self-employed, a bank statement loan may be the only path to homeownership or refinancing available. But there are many things that make these loans the better option for borrowers across Missouri.

Advantages of a bank statement loan in MO include:

  • No need for a W-2 or other tax documents: Of course, the primary benefit of a bank statement loan is the lack of traditional income verification requirements. Anyone with a bank account—personal, business, or otherwise—can apply for a bank statement loan in Missouri.
  • Flexible credit score requirements: At Griffin Funding, our bank statement loans are available to borrowers with credit scores as low as 620.
  • Down payments begin at just 10%: Depending on your credit score, you may qualify for a bank statement home loan in Missouri with a down payment as low as 10%.
  • Borrow up to $20 million: At Griffin Funding, we offer bank statement loan amounts up to $20 million, so you can purchase a luxury home or multi-unit investment property.
  • Refinance up to 80% of your property value: With a bank statement refinance loan, you can borrow up to 80% of your home’s total value for additional purchases, home improvements, and more.
  • Fixed and adjustable rate options available: Griffin Funding allows you to choose between bank statement loans with fixed or adjustable interest rates.
  • Purchase second homes and investment properties: Bank statement loans allow you to not only purchase a primary residence, but also vacation homes and investment properties.

Types of Bank Statement Loans in Missouri

Bank statement loans aren’t just for purchasing your first home. We have loan solutions for a range of needs:

  • Standard bank statement mortgages: Bank statement mortgages in Missouri are available to borrowers who are seeking funds for purchasing a home. In the bank statement mortgage application process, we will determine a down payment percentage, mortgage amount, and interest rate terms for your Missouri mortgage.
  • Bank statement home equity loans (HELOANS): Bank statement home equity loans, also known as second mortgages, are available to homeowners who already have an existing first mortgage on their home. A bank statement home equity loan allows you to leverage your existing equity to take out an additional loan. In this case, you will have two loans: your original home mortgage and your second mortgage.
  • Bank statement refinance loan: Another option available to homeowners with an existing mortgage. In the case of a bank statement refinance loan, a borrower takes out a loan that is greater than the value of their existing home mortgage. They use the new loan to pay off their original mortgage, and then are free to use the remaining funds for their needs.

How to Qualify for a Bank Statement Home Loan in Missouri

In order to qualify for a Missouri bank statement loan, you must meet the following requirements:

  • Be self employed for at least two years (or one year self-employed with two years experience in your industry
  • Minimum 10% down payment is require
  • Have reserves to pay your principal, interest, taxes, and insurance (PITI) as follows:
    • 3 months for loans under $1 million
    • 6 months for loans over $1 million
    • 12 months for loans over $1.5 million
  • The minimum bank statement loan amount is $100,000 and the maximum loan amount is $20 million.

Apply for a Bank Statement Mortgage in MO

If you’ve run into roadblocks in the home mortgage or refinancing application process due to self-employment, explore your options with bank statement home loans from Griffin Funding. We offer bank statement mortgages in Missouri with competitive rates and terms. Plus, you’ll enjoy the full support of experienced mortgage professionals throughout the application and approval process.

To get an idea of what a bank statement loan might look like for you, use our bank statement loan calculator to estimate the loan amount you can qualify for. Or, if you’re ready to get pre-approved, fill out an online application and begin your homeownership journey.