Self-employed use a bank statement loan to buy, refinance or take cash out of your property using only your bank statements for income.
Instead of looking at your tax return income, we review your personal or business bank statement deposits to establish your income.
- Loans to $5.0 Million
- Primary residence, second home and investment properties
- 30 & 40 Year Fixed Rates
- 1st and 2nd mortgages
- Cash Out an existing property
- Self-employed and gig economy income welcome, Uber, DoorDash, freelance, and more
- 12 or 24 month bank statement options
- Personal and business bank statements can be co-mingled
- Credit scores down to 620
- No tax returns required – No Paystubs – No W2’s
- DTI up to 55%
- Purchase, rate and term, and cash out refinance
- Condos, PUDs, and 2-4 unit properties eligible
- Foreign nationals and ITIN borrowers considered
- Gift funds allowed for down payment and reserves
How Can I Use Bank Statements for a Real Estate Loan?
Bank statement loans let self-employed borrowers qualify using deposits instead of tax returns.
Instead of W2s or tax returns, we look at 12 or 24 months of personal or business bank statements to calculate your qualifying income.
We total your deposits, apply an expense factor, and use that number to determine what you can afford. This works well for business owners, contractors, and investors whose tax returns don’t reflect their real cash flow.
Whether you have business returns, personal returns, or both, we can co-mingle personal and business bank statements to get you qualified.
If your bank statements show consistent income, you may qualify for a mortgage even without traditional documentation.