Bank Statement Loans
A Smart Path to Homeownership for the Self-Employed
Flexible, document-light mortgage options for business owners, freelancers, and independent earners.
Get StartedWho Qualifies for a Bank Statement Loan?
Self-employed individuals
Business owners
Freelancers and gig workers
Consultants and contract workers
Borrowers must provide consistent bank deposits and meet general credit and down payment requirements.
How Bank Statement Loans Help You
What is a Bank Statement Loan?
If traditional income documentation is holding you back from getting a mortgage, Bank Statement Loans offer a flexible alternative. Designed for the self-employed and small business owners, these loans let your bank activity do the talking, no tax returns or W-2s required.
A Bank Statement Loan is a type of non-qualified mortgage (Non-QM) that helps self-employed individuals qualify for a home loan without the usual W-2s or tax returns. Instead, lenders evaluate your income based on personal or business bank statements, typically over a 12- to 24-month period, giving you a way to demonstrate financial strength through deposits and cash flow.
Key Features of Bank Statement Loans
No W-2s or tax returns required
12- or 24-month bank statement options
Loan amounts and qualify based on business success and not taxable income
Options for sole proprietors, contractors, and freelancers
Purchase, refinance, or cash-out refinance options
Available for primary, second homes, and investment properties
Bank Statement Loans in practice
Phil, a restaurant owner, has significant revenue but many expenses written off on his taxes. This tax strategy, though powerful, makes qualifying for a traditional mortgage nearly impossible. He would like to purchase a second home. When he was declined by his favorite bank, he was able to qualify utilizing just twelve months of business bank statements (no tax returns). He was able to reflect what he felt was his true income utilizing this program and make his family’s dreams of a vacation home come true.
Dr. Richards, a successful dentist, has a rapidly expanding practice with much revenue and conversely many expenses that he is able to write off. His commercial bank could not help in his pursuit to buy out a minor partner of his practice and do a debt consolidation of his personal debt. By providing 12 months of business bank statements, he was able to do a cash out refinance to both buy out the partner and consolidate the tremendous consumer debt he was carrying. This allows for monthly cash flow savings as he is borrowing more efficiently through 30-year money rather than credit cards. He is also buying out his partner with a better payment than a commercial loan would.
Here’s How to Get Started
Getting started is simple and guided every step of the way:
- Explore Your Options: Learn how bank statement loans could work for your income situation.
- Have a Quick Conversation: Chat with a loan expert who understands the needs of self-employed borrowers.
- Get Preapproved: Once you’re ready, we’ll review your financials and get you prequalified for your next home.
Just a Minute Could Unlock Your Mortgage Options
Answer a few quick questions to see if a Bank Statement Loan fits your financial profile. No obligations.
Get Started
