A bank statement loan is a great loan for borrowers that can't show their income on a tax return. These are usually used for self-employed borrowers or 1099 employees. Some lenders will allow for w-2 wage earners use this loan.
Typically, these require a 620 or higher credit score for these.
The way these loans work is we take the average deposits over a 12- or 24-month period and come up with a monthly income.