What Is a Bank Statement Loan?
Traditional mortgages heavily rely on W-2s and tax returns. For self-employed individuals, tax returns often show a minimized net income due to write-offs, making it hard to qualify for a home you can actually afford.
Bank statement loans (a type of Non-QM loan) bypass tax returns entirely. Instead, we look at 12 to 24 months of your personal or business bank statements to determine your true cash flow and qualifying income.
Who Is It For?
- Business owners & Entrepreneurs
- 1099 Independent Contractors
- Freelancers and Gig workers
- Real estate investors
Key Requirements
- Min. Time Self-Employed 2 Years
- Min. Credit Score 620+
- Bank Statements 12-24 Months
- Down Payment Typically 10-20%
Key Benefits
No Tax Returns Needed
Keep your tax write-offs without sacrificing your ability to buy a home.
Qualify on Cash Flow
We use the actual deposits entering your accounts to calculate income.
Flexible Statement Types
We can use either your business bank statements or personal bank statements.
Loan Sizes
Available for both standard limits and jumbo loan amounts.