Bank Statement Converter for Commission-Based Income Mortgage

Commission earners — in sales, real estate brokering, financial advising, or any quota-based role — face heightened mortgage scrutiny because income swings month to month. Converting 24 months of bank statements to Excel lets an underwriter average your deposits and confirm the income trend instead of fixating on any single slow month.

Key Benefits

• Show average monthly deposits across 24 months for a stable qualifying income figure
• Distinguish commission deposits from bonuses, draws, and expense reimbursements
• Demonstrate income trend — rising or stable averages carry more weight than a single paycheck
• Document deposit frequency so the pattern of payment is unmistakable to an underwriter
• Give your loan officer an Excel file that calculates average monthly income in one formula

How It Works

1. Step 1: Upload 24 months of bank statements from your primary deposit account
2. Step 2: The parser extracts every deposit with date, amount, and source description
3. Step 3: Download Excel and add a SUM formula to compute average monthly deposits
4. Step 4: Attach the spreadsheet to your loan file alongside W-2s or commission agreements

Frequently Asked Questions

Can I qualify for a mortgage on commission income alone?

Yes, if you can demonstrate 24 months of commission history. Most lenders average the last 24 months. A sharp upward trend over that period may let you use the 12-month average, which is often higher.

My commission swings 50% between months. How do I handle that?

The 24-month average smooths out spikes and troughs. Include a written explanation for any month that is more than 50% below average — a slow quarter or an employer transition — with the bank statement showing you still met all obligations.

Convert a Statement Free