Bank statements for mortgage and loan applications
Lenders read your bank statements for income, large deposits, recurring debts and overdrafts. Converting the PDFs to Excel with BankConv gives you one sortable transaction list, so a borrower or broker can find and explain those items before submitting. Send the lender the original PDF statements; the spreadsheet is your working copy.
What you can do with it
Find large deposits early
Sort by amount to list every deposit that isn't regular pay. Underwriters often ask where these came from, so prepare the explanation first.
Show regular income
Filter money in by payer to show salary, contract or rental income month by month, especially for self-employed borrowers.
List recurring debts
Group repeating payments such as car loans, student loans and card payments, so they match what you declare on the application.
Spot overdrafts and returned items
Search descriptions for overdraft, NSF or returned. Know about them before the lender asks.
Check the period is complete
Lenders typically want consecutive recent statements with every page. Line up statement periods in one sheet to catch a missing month.
Brokers preparing a file
Convert a client's statements in one batch of up to 10 and send them a shared Google Sheet to annotate.
What lenders look for in your bank statements
Lenders use statements to confirm income, savings and debts, and to check where the down payment came from. Review the same things they will, before you submit.
| Lenders check | What to do in the spreadsheet |
|---|---|
| Regular income | Filter money in by payer; total each month |
| Large or unusual deposits | Sort money in by amount; note the source of each |
| Recurring debt payments | Filter descriptions for loan and card payees |
| Overdrafts and returned items | Search for overdraft, NSF or returned |
| Funds to close | Check the closing balance on each statement |
| Missing pages or months | Line up statement periods; confirm page counts |
How to build the transaction list
- Download the PDFs. Get the statements your lender asked for from online banking, every page included.
- Convert them. Upload up to 10 PDFs to BankConv and export to Excel. Password-protected PDFs work; the password isn’t stored.
- Combine and sort. Paste the months into one sheet. Sort by amount to bring the large deposits to the top.
- Annotate. Add a Notes column. Write the source next to each large deposit, such as “gift from parent” or “sale of car”.
- Check it. The last running balance should match each statement’s closing balance.
For brokers
Brokers who receive client statements as PDFs can convert a batch and send the client a Google Sheets link to fill in explanations. Teams can set retention to 48 or 72 hours instead of the default 24. See security for how files are handled.
What the spreadsheet doesn’t replace
A converted list is a review tool. It doesn’t replace the bank’s statements, a verification of deposit, or anything the lender asks for directly. Keep the PDFs, and send them as the lender requests.
For an occasional application, pay per document from $2.99. Brokers with steady volume can use a plan. See pricing.
Questions people ask
Can I send the lender the Excel file instead of my statements?
Usually not. Lenders generally want the original statements as issued by the bank. Use the converted spreadsheet to review and explain items, and ask your lender or broker exactly what they need.
How many months of statements do mortgage lenders ask for?
Commonly the two or three most recent months, with every page, but it varies by lender and loan type. Your loan officer will confirm.
What counts as a large deposit?
It depends on the lender and loan program. Any deposit that isn't regular payroll and is big relative to your income may need a written explanation and proof of its source.
Is it safe to upload statements for a loan application?
Files travel over HTTPS and are deleted after 24 hours. BankConv never connects to your bank account and never asks for your banking password.