(Guides) Updated Oct 7, 2026 · sources linked
Business or
personal
statements?
The same borrower can often qualify on personal or business statements, and the choice changes the income. Personal statements usually count 100% of eligible deposits; business statements take an expense factor. Here is what each lender actually publishes.
(01) The difference
Expense factor or not.
Business statements show the business's gross receipts, so the lender takes out an assumed share for expenses (usually 50%) and applies the borrower's ownership. Personal statements show what the business paid the borrower, which is already after expenses, so most programs count 100% of eligible deposits.
The catch is the conditions. Lenders want to see that the personal deposits really come from the business.
(02) By lender
What each lender requires for personal statements.
| Lender | Personal statements | Extra conditions |
|---|---|---|
| Angel Oak | Same expense factor as business, or 100% with 2 months of business statements | From a 2022 Angel Oak FAQ post; confirm current rules |
| Newfi (Rainier) | 100% of eligible deposits | Ownership at least 20%; 2 months of business statements showing transfers |
| Acra | 100% of deposits ÷ 12 or 24 | Everyone on the personal statements must be on the loan application |
| Deephaven | 100% of eligible deposits | Transfers between personal accounts excluded |
| Verus | Only transfers or deposits from the business account(s) count | Ownership at least 20%; 2 months of business statements |
| A&D | 100% of stable, predictable deposits | Transfers between personal accounts and non-business income excluded |
(03) Worked example
One borrower, two ways.
Twelve months of personal statements show $240,000 of eligible deposits, $180,000 of which are transfers from the borrower's business account. The business account shows $480,000 of eligible deposits; the borrower owns 100%.
| Approach | Calculation | Monthly income |
|---|---|---|
| Business statements, 50% factor | $480,000 × 50% ÷ 12 | $20,000 |
| Personal, 100% (Newfi, Acra, Deephaven, A&D) | $240,000 ÷ 12 | $20,000 |
| Personal, business transfers only (Verus) | $180,000 ÷ 12 | $15,000 |
| Personal, Angel Oak without 2 months of business statements | $240,000 × 50% ÷ 12 | $10,000 |
Illustrative figures. Which approach wins depends on how much the borrower pays themselves and on the lender.
(04) Co-mingled accounts
When business and personal run through one account.
Newfi and Verus list co-mingled accounts alongside business statements, with the business expense factor applied and a 100% ownership requirement. If the borrower pays personal bills out of the business account, check that requirement before you pick the program.
(05) Sources
Read the lenders' own documents.
- Angel Oak Mortgage Solutions: Bank statement program page (read Oct 7, 2026) · how DepositDesk applies it
- Angel Oak Mortgage Solutions: Angel Oak Mortgage Solutions FAQ post, Sep 2, 2022 · how DepositDesk applies it
- Angel Oak Mortgage Solutions: Mortgages for self-employed guide, Aug 23, 2022 · how DepositDesk applies it
- Newfi Wholesale: Newfi Lending Rainier Matrix, effective for locks on/after Feb 19, 2026, rev. Mar 3, 2026 (pp. 17, 29–37) · how DepositDesk applies it
- Newfi Wholesale: Non-QM submission checklist, bank statement · how DepositDesk applies it
- Acra Lending: Acra Lending bank statement calculator, version v20250102 (from the broker resources page) · how DepositDesk applies it
- Deephaven Mortgage: Bank statement features sheet, Jan 19, 2023 · how DepositDesk applies it
- Deephaven Mortgage: Wholesale underwriting guidelines §8.3–8.4, effective Jan 10, 2022 · how DepositDesk applies it
- Verus Mortgage Capital: Correspondent Non-Agency Seller Guide §2.7.6, Nov 11, 2024 · how DepositDesk applies it
- A&D Mortgage: Non-QM Loan Eligibility Guidelines §6.6.8, Sep 24, 2026 · how DepositDesk applies it
Guidelines change without notice; dates are shown on each lender page. DepositDesk is independent and isn't affiliated with, endorsed by or approved by any lender named here. This guide is general information for mortgage professionals, not underwriting or legal advice.
(06) FAQ
Questions brokers ask.
Do personal bank statement loans use an expense factor?+
Usually not: Newfi, Acra, Deephaven and A&D count 100% of eligible personal deposits. Angel Oak's 2022 FAQ says personal statements take the same expense factor as business unless the borrower provides 2 months of business statements. Verus counts only transfers from the business account.
Which is better for a self-employed borrower, business or personal statements?+
It depends on how much of the business's money reaches the borrower's personal account. Work both: business deposits × ownership × (1 − expense factor), against personal deposits at 100%, under the lender's conditions.
Do I need business statements if I qualify on personal statements?+
Often yes. Newfi and Verus ask for 2 months of business statements, and Angel Oak uses them to allow 100% of personal deposits.
(07) Keep reading
Related guides.
(Next step)
Run the numbers on a real file.
Drop in 12 or 24 months of statements and DepositDesk builds the worksheet with these rules applied, every exclusion explained. Your first file is free; statements never leave your browser.