A Rapidio alternative for bank statement loans: StatementReady side by side
Compared on October 31, 2026. Rapidio details come from Rapidio's public pages as checked on the date in each row and may have changed. StatementReady details are from statementready.net on the publish date.
Rapidio's pages list wage, tax-return and bank statement income. StatementReady works from bank statements only, so this page compares bank statement loan files.
If you're looking at Rapidio for bank statement loan files, here is how StatementReady lines up on the features and prices both companies list publicly. We describe what StatementReady does, then what Rapidio lists, side by side. We don't rate either one.
What StatementReady does
Upload 12 or 24 months of a self-employed borrower's business or personal bank statements.
StatementReady builds an income worksheet from the uploaded statements using the months, ownership % and expense factor you enter. It's a tool to check against your lender's guidelines, not a lending decision. You and your lender make the final call on what counts as income.
What Rapidio lists
Rapidio describes itself as automated income calculation for mortgage brokers, lenders and underwriters. Its pages list wage-earner, Schedule C, partnership (Form 1065 and K-1) and bank statement income, and Fannie Mae, Freddie Mac, FHA, VA, USDA and non-QM guidelines.
Source: https://rapidio.com/faq/ (checked October 31, 2026)
Side by side
| StatementReady | Rapidio, as listed on its public pages | Source and date checked | |
|---|---|---|---|
| Income types | Upload 12 or 24 months of a self-employed borrower's business or personal bank statements. | Wage-earner, Schedule C, partnership (Form 1065 and K-1) and bank statement income; 12- and 24-month bank statement programs. | checked October 31, 2026 |
| Getting statements in | You can upload separate PDFs or one combined PDF, and StatementReady splits it into individual statements and detects the account and period for each. The limit is 20 MB per PDF. | PDF files or archives (.zip, .rar, .7z, .tar, .tar.gz, .tgz); combined PDFs are split into separate documents. | checked October 31, 2026 |
| Borrower upload | Create a borrower upload link on the loan file. It works for that one loan file only, needs no borrower login, expires within 7 days (you choose 1–7), and you can revoke it anytime. | An upload link or a QR code you send to the borrower. | checked October 31, 2026 |
| Balance checks | Every statement is checked to the cent: opening balance plus credits minus debits must equal the closing balance. It also checks that each closing balance matches the next opening balance and flags missing months. Statements that don't reconcile, or can't be checked, are marked Unverified, and exports carry that warning. You review flags and can edit rows. | Flags balances that don't match from one statement, or month, to the next. | https://rapidio.com/bank-statement-calculator/ checked October 31, 2026 |
| Missing months | In StatementReady, a month with no statement in the 12- or 24-month window is flagged as missing and counts as zero in the worksheet until you add it. | Names the missing month and puts a warning on the result; until the statement arrives, income is averaged over the statements on hand. | https://rapidio.com/bank-statement-calculator/ checked October 31, 2026 |
| Deposits left out | StatementReady excludes matched internal transfers, refunds, tax refunds and returned items automatically, and you can override any item. Deposits that look like wages or payroll, Social Security, SSI, pension, rent or child support aren't counted by default either, and you can count any of them back in the Review queue. | Lists each counted deposit by date, type and amount for every month, with how many of the month's transactions were counted; says transfers and refunds are left out and withdrawals are never counted. | https://rapidio.com/bank-statement-calculator/ checked October 31, 2026 |
| Expense factor and ownership | You enter the factor from your lender's program on the loan file. In StatementReady you enter the ownership %, and a blank field counts as 100%. | You set the ownership percentage and the expense factor on the result, and it recalculates. | https://rapidio.com/bank-statement-calculator/ checked October 31, 2026 |
| NSFs and overdrafts | It counts NSF and overdraft occurrences by month and account, and warns you when a count is over the limit you set on the loan file. If you leave the limits blank, it uses 3 in 12 months or 6 in 24 months. Set them to match the program you're submitting to. | NSFs come back as conditions, with their months. | https://rapidio.com/bank-statement-calculator/ checked October 31, 2026 |
| Large deposits | On Purchase, it flags deposits over 50% of the monthly income you enter on the loan file (threshold = that income ÷ 2; if the income field is blank, StatementReady uses 50% of the calculated monthly income and labels it that way, and if there is no calculated income either, the check doesn't run and says so). On Refinance, StatementReady produces no large-deposit flags at all. | A deposit greater than 50% comes back as a source-of-funds condition with its month and amount. | https://rapidio.com/bank-statement-calculator/ checked October 31, 2026 |
| Follow-up list | It builds a list of letters of explanation and sourcing requests you can export. | "Smart Conditions": documents to collect, items to review and notes, each with a short explanation; they cover the income side of the loan. | checked October 31, 2026 |
| Running the loan file another way | (Solo) Re-run a completed file under a saved profile without re-uploading or re-extracting the statements — only the calculation runs again. Configured by you from your saved settings — not a lender determination. Confirm the current guideline with the lender before you rely on it. Source: https://statementready.net/pricing (checked October 31, 2026) | Shows more than one calculation option side by side, each with its method, and recommends one; you select, and the loan records who selected it and when. | checked October 31, 2026 |
| What you get | You get an .xlsx with the income summary and month rows, the letter-of-explanation list and average daily balances. CSV and PDF exports are also available. | A loan report exported as PDF or DOCX. On enterprise accounts, a REST API and reports with your logo. | checked October 31, 2026 |
| Unit of charge | One borrower application, including all its bank statements within 60 days of the first upload. Statements uploaded to that same loan file after the first 60 days are updates and don't use another credit, for as long as that loan file is still in your account. A separate loan file for a new application uses another credit. A co-borrower on the same application doesn't add a loan file. | One loan covers all its borrowers and income sources; the price doesn't grow with the number of documents or pages; documents added later go into the same loan, and running it again is free. | checked October 31, 2026 |
| Listed price | Your first 2 loan files are free, no card required. Then pay as you go at $15 per loan file, paid in advance, or Solo at $49/month with 6 loan files a month ($490/year with 72). Extra loan files on Solo are $8 each. | First loan free, no card to start. Then $20 per loan, pay as you go, any income type. Monthly bundles: 3 loans for $49, 8 loans for $99, 15 loans for $149. Loans beyond a bundle are $20 each; unused loans don't carry over. No setup fee, no monthly minimum, no annual contract. Enterprise accounts are priced by volume. | checked October 31, 2026 |
Rapidio prices per loan and StatementReady prices per loan file, and each company defines its unit differently (see "Unit of charge"), so the price rows can't be compared one to one.
Rapidio details are from Rapidio's public pages on the date shown and may have changed. Check Rapidio's site for current details.
StatementReady assists your review. It doesn't make underwriting or credit decisions, and it doesn't replace your judgment or your lender's guidelines.
You review the flags, and you and your lender stay responsible for checking the results against program guidelines.
Where Rapidio may fit
If your loan files mix wage, tax-return and bank statement income, Rapidio's pages say it covers all of those under one loan price. StatementReady works from bank statements only.
Source: https://rapidio.com/faq/ and https://rapidio.com/pricing/ (checked October 31, 2026)
Where StatementReady fits
Reconciled means the transactions add up to the printed balances. It doesn't confirm that each deposit is eligible income.
How uploaded statements are processed, including AI reading of scanned pages, and when they're deleted is described in our Privacy Policy (Sections 4 and 6).
See what StatementReady produces from 12 months of statements before you sign up: the sample worksheet uses made-up data, and every download is marked SAMPLE.
FAQ
What's the difference between Rapidio and StatementReady?
Rapidio's pages describe mortgage income calculation for wage, tax-return and bank statement income, priced per loan. StatementReady builds a bank statement income worksheet for a mortgage loan file, priced by loan file. The table above shows what each lists, as of the date shown.
How does StatementReady check that the numbers are right?
Every statement is checked to the cent: opening balance plus credits minus debits must equal the closing balance. It also checks that each closing balance matches the next opening balance and flags missing months. Statements that don't reconcile, or can't be checked, are marked Unverified, and exports carry that warning. You review flags and can edit rows.
How is income calculated on a bank statement loan?
A common method: add up the deposits your lender will count over the look-back period, divide by the number of months, then apply the borrower's ownership share and the program's expense factor. Requirements vary by lender and program. StatementReady's worksheet does exactly that: average counted deposits × ownership % × (1 − expense factor).
Does StatementReady make the lending or income decision?
No. It doesn't make a credit decision. You review the flags, and you and your lender stay responsible for checking the results against program guidelines.
How much does StatementReady cost?
Your first 2 loan files are free, no card required. Then pay as you go at $15 per loan file, paid in advance, or Solo at $49/month with 6 loan files a month ($490/year with 72). Extra loan files on Solo are $8 each.
Where does the Rapidio information on this page come from?
From Rapidio's public website, on the date shown in each row. We didn't sign up for or use Rapidio's product. Details may have changed. Spot something out of date? Email support@statementready.net.
StatementReady assists your review. It doesn't make underwriting or credit decisions, and it doesn't replace your judgment or your lender's guidelines.
Try it on your next loan file.
Your first 2 loan files are free, no card required.
Then pay as you go at $15 per loan file, paid in advance, or Solo at $49/month with 6 loan files a month ($490/year with 72). Extra loan files on Solo are $8 each.
Rapidio is a trademark of its owner. StatementReady isn't affiliated with or endorsed by Rapidio.
We are not affiliated with or endorsed by Fannie Mae, Freddie Mac, or any lender.
Comparison information about Rapidio comes from Rapidio's public pages as of the dates shown and may have changed.
Spot something out of date? Email support@statementready.net.