Bank statement income · 12 and 24 months
Statements in. Income out, deposit by deposit.
A bank statement package is up to 24 statements and a few hundred pages. Rapidio reads them all in about 10 minutes: every counted deposit by date, type and amount, the missing months named, NSFs and large deposits flagged.
No card to start. From $9.93 a loan in a bundle, $20 pay as you go, 12 months or 24.
“My overall experience with Rapidio has been excellent - fast, reliable service with clear communication and consistent results every step of the way. …”
Income by month · US Bank ••891022 of 24 statements
- Nov 2024View transactions$23,796.92
- Dec 2024View transactions$11,780.63
- Jan 2025Statement not providedMissing
- Feb 2025View transactions$55,376.11
Still needed2 items
- Critical. Statements for January 2025 and March 2026
- Review. Source of the $28k deposit in May 2026
Mortgage teams and associations that work with Rapidio
How it works
Upload the statements. Open any month.
Five screens, drawn from the web app with a sample loan. Click a step, or let it play.
ProgramPick one
24 months12 monthsPersonal or business account
Or send the borrower a linkNo account needed
dd.rapidio.com/upload/…QR codeExpires in 8 hours
What the average countsBefore adjustments
- Total deposits included$609,971.42
- Deposits counted38
- Statements provided22 of 24
Warning2 statements missing
- Critical. Until the missing statements are in, the average covers 22 months and can misstate the income.
Deposits included in qualifying incomeDate · type
- 05/02ACH wire from a corporation ACH / Wire$28,000.00
- 05/04Electronic deposit from Square Card$400.00
- 05/15Mobile deposit Deposit$500.00
- 05/22Cashapp from a person P2P$50.00
- 05/26Deposit Deposit$900.00
- +3More deposits from Square Card$1,476.99
- Counted deposits, May 2026$31,326.99
2 transactions left outWithdrawals never counted
Documents you need to closeCritical · 2
- Critical. Bank statements for January 2025 and March 2026 Reason: 22 of 24 statements providedOpen
- Critical. Source of funds required Reason: a deposit greater than 50% in May 2026, $28kOpen
- Critical. NSF identified on the statements May 2025, June 2025, December 2025Open
AdjustmentsChange one, Rapidio recalculates
- Qualifying deposits, per month$27,725.97
- Ownership percentage100%
- Expense factor50%
- Qualifying income, per month$13,862.99
Loan reportGoes out with the loan
Income by monthEvery counted depositAdjustmentsConditions
Drawn from the web app with a sample loan. Add the missing statements later and run the loan again, at no charge.
Programs and accounts12-month program24-month programPersonal and business accountsMore than one account in a loanPDF or ZIPAnother non-QM program: ask us
Where the hours go
Three things that go wrong in a statement package. What you get instead.
The deposit that should not have counted.
A transfer from savings, a refund, a loan: counted by mistake, the income is overstated and the lender cuts it later. Rapidio counts the deposits that qualify, leaves out the rest, and shows how many of the month's transactions it counted.
The month nobody noticed was missing.
The lender's underwriter finds it two weeks in, and the loan waits for the borrower. Rapidio names the missing month the moment the loan is run, and the result carries a warning until the statement is in.
The $28k deposit, three weeks later.
A large deposit has to be sourced and an NSF explained, and the question comes when the loan is already in underwriting. Rapidio flags both, with the month, so the processor asks the borrower once.
Not AI alone. Experienced underwriters stand behind the system. A loan that needs a human eye gets flagged for review, and borrower documents are seen only by the assigned internal underwriter, under NDA.
Compared
24 statements, by hand and with Rapidio.
The work is the same either way: find the deposits, decide which ones count, average them, and show how you got there.
Who uses it
One package, seen from 4 desks.
Brokers and loan officers
See the income before you talk numbers.
Upload the statements and see the figure, the months and the deposits behind it, before you quote the borrower.
For brokersProcessors
Find the missing month first.
Rapidio names a missing statement as soon as the loan is run, while there is still time to ask for it.
For processorsUnderwriters and QC
See which deposits were counted.
Each month opens to its deposits by date, type and amount, with the adjustments shown on the result.
For underwritersLenders and banks
The same count on every loan.
Pilot it on your own bank statement loans, compare with your underwriters, then connect by API.
For lendersPricing
From $9.93 a loan in a bundle. $20 pay as you go.
12 months of statements or 24, the price is the same, and it does not grow with the number of statements, accounts or pages. No setup fee, no monthly commitment.
- Income by month and the average
- Every counted deposit listed
- Missing statements named
- Ownership percentage and expense factor you can set
- Smart Conditions, red flags included
- Loan report as PDF or DOCX
Security
- SOC 2 Type 1 report
- Encrypted in transit and at rest
- Role-based access with 2FA
- Borrower documents seen only by the assigned internal underwriter, under NDA
More about the product
FAQ
Questions about bank statement income.
Have another question? Write to service@rapidio.com or book a 30-minute call.
Will the lender's underwriter count the same deposits?
Not always. The lender's underwriter makes the final call and may use another expense factor or leave out other deposits. Rapidio lists every counted deposit and shows the adjustments, so the 2 calculations can be compared deposit by deposit, and the lender's cut is not a surprise.
Which deposits does Rapidio count?
The deposits that qualify as income. Transfers, refunds and other deposits that do not qualify are left out, and withdrawals are never counted. For every month you see each counted deposit by date, type and amount, and how many of the month's transactions were counted.
What happens if a statement is missing?
Rapidio names the missing month and puts a warning on the result. Until the statement arrives, the income is averaged over the statements on hand, and the result says how many that is. Add the statement to the same loan and run it again, at no charge.
Does Rapidio flag NSF fees and large deposits?
Yes. A deposit greater than 50% comes back as a source-of-funds condition with its month and amount, and NSFs come back with their months. Rapidio also flags transfers between accounts and balances that do not match from one statement to the next.
Can I change the ownership percentage or the expense factor?
Yes. You set both on the result. When you change one, Rapidio recalculates the qualifying income, and the loan report shows the adjustments it used.
Which programs and accounts does Rapidio support?
12-month and 24-month bank statement programs, on personal and business accounts. One loan can hold more than one account, each uploaded as consecutive months, and the loan gets one total. For another non-QM program, such as 1099-only or profit and loss, ask us before you run the loan.
What can I upload?
PDF statements, one by one or as a single .zip, .rar, .7z, .tar or .tgz archive, every page of every statement. You can also send the borrower a secure upload link or QR code.
How long does a bank statement loan take?
A full bank statement package takes about 10 minutes. Timing depends on the number of statements and on how readable they are.
What does Rapidio cost?
From $9.93 a loan in a bundle of 15 a month, $20 pay as you go, for 12 months of statements or for 24. The price does not grow with the number of statements or pages. No setup fee, no monthly commitment. The first loan is free.
Does a person check the deposits?
Rapidio counts the deposits from the statements. When a loan needs a human eye, it gets flagged for review and an experienced underwriter looks at it. You can also check the count yourself: every counted deposit is listed by date, type and amount.
What is a bank statement income calculation?
In a bank statement program, the lender qualifies income from the deposits on 12 or 24 months of statements instead of tax returns. Rapidio reads the statements, counts the deposits that qualify, applies the ownership percentage and the expense factor, and averages the result per month.
A 24-month package on your desk? Upload it as it is.
See the months, the deposits and the income figure in about 10 minutes. The first loan is free.