22 Jan 2022

Can You Use Bank Statements as Proof of Income for a Mortgage?

Proof of Income for a Mortgage

You can! Although banks and companies prefer seeing government tax returns as proof of income over long periods, if you are just starting, bank statements are a great piece of evidence!

Why are Bank Statements Important?

Bank Statements give two pieces of information to lenders and bakers that are immensely important: the amount of money you have and your reliability.

For instance, bank statements show the total and how it changes your account. This means that if you have savings and it is growing, the bank and mortgage lenders can see this information. This gives them peace of mind knowing that you have savings and are a person that sees money continues to grow.

How does it show reliability?

Bank Statements show that you are reliable by providing lenders and bankers with the information that you do pay your bills on time and have a steady flow of income. These statements not only show what the total is after each statement period but also the constant changes.

For instance, monthly bills like rent, utilities, and phone bills can be seen in these statements. They get taken out, and if your bank statements are consistent and positive, it is a good sign for bankers and mortgage lenders. Bank statements can hurt your chances, however, if there are many instances where your accounts drop negative or where you continuously use your savings.


In conclusion, you can provide bankers and lenders bank statements to prove that you have the right amount of money and that you are a consistent and reliable person. However, most of the time, lenders will want additional proof of income.

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