Most Non-QM bank statement programs need 12 or 24 consecutive months of personal or business statements — no gaps, no missing pages. Here is what lenders expect on Indiana self-employed files.
Most investors offer two bank statement tiers: a 12-month lookback and a 24-month lookback. Both require consecutive monthly statements from the same account — personal or business depending on the documentation path you choose.
A 12-month program uses recent deposit history and may fit borrowers with a strong last year but uneven prior years. A 24-month lookback smooths seasonal swings and can produce a more stable average when revenue fluctuates month to month.
Pricing, credit minimums, and LTV caps may differ between 12- and 24-month products — guidelines vary by investor.
12-month lookback
Recent 12 consecutive months
Faster to gather; sensitive to one bad quarter
24-month lookback
Recent 24 consecutive months
Smooths seasonality; longer document prep
What underwriters expect in your statement package — and what commonly causes delays.
Not every deposit counts toward qualifying income. Here is what lenders typically remove from the average.
| Deposit type | Usually counted? | Notes |
|---|---|---|
| Business revenue deposits | Yes | After expense factor on business statements |
| Owner draws / distributions | Often yes | On personal statements with clear pattern |
| Transfers between own accounts | No | Excluded to prevent double-counting |
| Refunds & reversals | No | Not recurring revenue |
| Large one-time deposits | Case-by-case | May need source documentation or exclusion |
Related bank statement guides and Non-QM resources from Ryan & Steve.
Personal vs. business documentation and which deposit factor applies.
How deposit averaging and program factors calculate qualifying income.
Credit, down payment, reserves, and full eligibility snapshot.
Full program hub and document checklist.
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Most Non-QM bank statement programs require either 12 or 24 consecutive months of personal or business statements. The lookback period depends on the matched investor, loan amount, and whether you choose a 12- or 24-month product tier.
Yes — underwriters expect uninterrupted monthly statements from the same account series. Gaps, missing pages, or switching accounts mid-lookback can delay or derail income calculation.
Gaps raise questions about income continuity. Some investors allow letter explanations for brief gaps; others require restarting the lookback. We review your timeline before you apply to avoid surprises.
Transfers from your own accounts are usually excluded from eligible deposits to avoid double-counting. Large unexplained transfers from third parties may need documentation or may be excluded entirely.
Ryan & Steve review your 12- or 24-month deposit history before you apply — so the lookback period and account choice make sense upfront.
Ryan Minick and Steve DeLon — Branch Managers & Senior Loan Officers at Luminate Bank. Based in Kokomo, Indiana. Lending nationwide since 2005.
Contact
Ryan Minick NMLS# 203249
Steve DeLon NMLS# 202876
Luminate Bank NMLS# 1281698
Kokomo's Mortgage Team. Lending Nationwide.
1221 Appletree Lane, Kokomo, IN 46902
Luminate Bank NMLS 1281698 Bank Headquarters 2523 S. Wayzata Blvd., Suite 100 Minneapolis, MN 55405 (952) 939-7200. This is not an offer to enter into an agreement. Information provided is outlining the minimum down payment requirements as allowed by specific loan program and product guidelines and any information, rates and programs are subject to change without prior notice and may not be available in all states. All loans are subject to credit and property approval. Luminate Bank is not affiliated with any government agency. All rights reserved.
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