Bank statement loans · For the self-employed

Self-employed? Let your bank deposits tell the story.

A bank statement loan works out your income from your personal or business bank statements instead of your tax returns. Built for business owners, freelancers and gig workers whose write-offs hide what they really earn.

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Tell us how you’re paid, and see how your deposits could count as income.

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What to know.

The essentials, in plain English.

Your deposits, not your write-offs: Income is worked out from your bank statements, so business deductions don’t shrink what a lender sees.
Personal or business statements: Use your personal or business accounts, depending on how your money moves.
When conventional can’t see your income: If a conventional loan can’t count what your business really brings in, a bank statement loan reads it from your deposits instead.
Your statements, reviewed first: Your loan officer reviews your deposits with you before you apply, so you know how a lender will read them.

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What happens after you press the button.

Your loan officer reaches out: Andrew reads what you send personally and gets in touch to talk it through.
What you’ll talk about: What you do, how you’re paid and which accounts your income runs through.
What to have handy: A sense of your monthly deposits. Statements come later, when you apply.

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Who it fits
Self-employed borrowers whose tax returns don’t show what they really earn.
- Business owners
- Freelancers and contractors
- Gig workers
- Agents and others paid on commission
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What you’ll need
Your loan officer confirms the list for your program.
- Personal or business bank statements, usually for twelve or twenty-four months
- Proof you’re self-employed, such as a business license or a letter from your CPA
- Your credit history
- Details of your down payment and reserves
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Common questions

How many months of statements do I need?

Usually twelve or twenty-four months, depending on the program.

Is this a non-QM loan?

Yes. Bank statement loans are non-qualified mortgages: they follow the lender’s own guidelines rather than the standard agency rules.

Should I use personal or business statements?

Either can work. Business statements usually have an expense factor applied to the deposits, while personal statements may count them more fully. Your loan officer can tell you which fits how you’re paid.

Do I need tax returns at all?

Usually not for your income. You’ll show your bank statements and proof you’re self-employed, such as a business license or a letter from your CPA.

How long do I need to be self-employed?

Most programs look for an established history of self-employment. Your loan officer can tell you what yours requires.

Do bank statement loans cost more?

They’re usually priced higher than standard loans, because they follow the lender’s own guidelines. If your tax returns could work too, your loan officer can compare both.

Can I use a bank statement loan for an investment property?

Yes. Many programs allow it, as well as the home you live in and second homes.

Will checking my options affect my credit?

Answering a few questions doesn’t check your credit. A credit check comes later, only with your permission, and your loan officer can explain how it may affect your score.

What if I don’t qualify?

Your loan officer can look at profit and loss statements, 1099s or a conventional loan, and tell you what would change the answer.

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