Bank statement loans qualify self-employed borrowers, 1099 contractors, and business owners on their actual cash flow — not what shows up on tax returns after deductions. Use 12 or 24 months of personal or business bank statements. $200K to $3M loan amounts. 10% down available with strong credit.
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If you’re self-employed and your tax returns show lower income than your bank deposits actually do, conventional lenders deny you. Bank statement loans look at the deposits.
Skip the tax-return submission entirely. We qualify you on 12 or 24 months of bank statements. If your tax returns understate your real income due to legitimate business deductions, this loan unlocks what conventional lenders deny.
Designed specifically for 1099 contractors, freelancers, sole proprietors, LLC owners, and S-corp business owners. Variable monthly income, seasonal cash flow, and recent business growth all get fair treatment.
From entry-level to jumbo territory. Use for primary residence, second home, or investment property purchase or refinance — including cash-out up to 75–80% LTV.
More flexible credit standards than most non-QM products. 620 minimum gets you in; 700+ unlocks better pricing. 10% down available with strong profiles; 15–20% is more typical.
Two main variants (personal vs business statements) with different qualifying-income math. Here’s how to pick the right one for your cash flow pattern.
Personal statements: lenders use your average monthly deposits, often at 90–100% of face value. Best if you regularly move business income into your personal account. Business statements: lenders apply an “expense factor” (typically 50%) assuming half goes to costs. Best if income largely stays in your business.
On business statements, a standard 50% expense factor means $40,000/month deposits = $20,000/month qualifying income. The factor is negotiable: a CPA letter documenting your actual expense ratio (e.g., 30%) can reduce the haircut, giving you $28,000/month qualifying income from the same deposits. We coordinate this with your CPA.
12 or 24 months of bank statements (personal, business, or both). Proof of business existence: business license, articles of incorporation, CPA letter, or 2 years of tax returns (used only to prove the business exists, not to verify income). Standard ID, asset statements, and credit authorization. No W-2s, no pay stubs, no income tax returns required.
Rates run 1.0%–2.0% higher than conventional 30-year fixed. Down payments: 10% minimum with strong credit + reserves, 15–20% typical, 25%+ for best pricing. DTI capped at 50% (more flexible than conventional’s 43% limit). 30-yr fixed, 15-yr fixed, and 5/1, 7/1, 10/1 ARM options all available.
Want to know your qualifying income? Send us 3 months of statements and we’ll calculate both personal and business approaches to find your highest number.
Calculate My Qualifying IncomeThree ways for self-employed borrowers to qualify. Bank statement variants give you flexibility; conventional gives you the lowest rate — if your tax returns support it.
| Personal Bank Stmts | Business Bank Stmts | Conventional (Tax Returns) | |
|---|---|---|---|
| Income Documentation | 12–24 mo personal statements | 12–24 mo business statements | 2 yrs 1040 + business returns |
| Tax Returns Needed? | No | No | Yes |
| How Income Is Calculated | ~90–100% of deposits | ~50% of deposits (expense factor) | Net income on Schedule C/K-1 |
| Min FICO | 620+ | 620+ | 620+ (best at 740+) |
| Down Payment | 10–20% | 10–20% | 3–20% |
| Typical Rate Premium | +1.0–2.0% vs conv. | +1.0–2.0% vs conv. | Best market rate |
| Loan Amount Range | $200K–$3M | $200K–$3M | $200K–$766K (conforming) |
| Best For | Income moved to personal account | Income kept in business account | Strong tax-documented income |
Slightly longer than conventional due to cash flow review, but no extra government approvals or oversight steps.
Send us 3 months of bank statements for a quick qualifying-income estimate. We’ll tell you whether personal or business statements give you the higher number.
Provide 12 or 24 months of bank statements, ID, and business existence proof. We issue a pre-approval letter within 48–72 hours.
Shop with confidence. We can validate the loan-to-value ratio against your target purchase price before you submit any offer.
Standard 30–45 day underwriting. Bank statement loans require closer review of cash flow patterns, but no government approvals or extra oversight.
Sign closing docs and get your keys. Refinance to a conventional loan later if your tax-return-documented income improves.
You skip tax returns, but pay for the flexibility in rate and down payment. Here’s what to weigh before committing.
The questions self-employed borrowers ask most before choosing this loan type. Don’t see yours? Ask Alex directly.
Alex Doce has structured bank statement loans for thousands of self-employed Florida buyers over 38 years — from freelance designers to multi-state business owners. Send 3 months of statements for a free qualifying-income estimate. No tax returns, no hard credit pull, no obligation.
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