Bank statement loans for the self-employed
Qualify on the income your business actually brings in
If your tax returns understate what you earn, a bank statement loan lets you qualify using 12–24 months of personal or business deposits instead.
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- $1B+ funded
- 30+ years of experience
Built for how self-employed people earn
A non-QM option for borrowers whose write-offs make conventional qualifying difficult.
No tax returns for income
Income that reflects your business
Primary, second or rental
Jumbo loan amounts
Typical requirements
Guidelines vary by lender and program. All loans are subject to credit approval.
- Self-employed for at least 2 years, typically in the same line of work
- 12 or 24 months of personal or business bank statements
- Credit score minimums vary by program — many start around 620
- Down payment typically 10–20% or more, depending on loan amount and property type
- Business license, CPA letter or other proof of self-employment
- Debt-to-income limits vary by program
Who it helps most
- Business owners who write off significant expenses
- Freelancers and independent consultants
- Real estate agents and investors
- Gig workers such as rideshare drivers and content creators
- Restaurant and retail owners
- Contractors and remote workers paid on 1099s
Bank statement loan questions
A bank statement loan is a non-QM (non-qualified mortgage) product that lets self-employed borrowers qualify using 12–24 months of personal or business bank statements instead of tax returns and W-2s. The lender analyzes your deposits to determine qualifying income, which can reflect your earnings more accurately than tax returns that show business deductions.
Bank statement loans are designed for self-employed borrowers — business owners, freelancers, independent contractors and gig workers — typically with at least two years of self-employment. Credit score and down payment minimums vary by lender and program; many programs start around a 620 score and 10% down, with better pricing at higher scores and larger down payments.
Lenders review 12–24 months of statements and average your monthly deposits. For personal accounts, qualifying deposits typically count in full. For business accounts, an expense factor is applied — often 50%, or a figure based on your industry or a CPA-prepared expense statement. The result becomes your qualifying monthly income.
Bank statement loan rates are usually higher than conventional rates because they are non-QM loans with different underwriting. How much higher depends on your credit, down payment, loan amount and the market. For self-employed borrowers who can't qualify conventionally, they can open a path to buying that wouldn't otherwise be available.
Yes. Bank statement loans can be used for primary residences, second homes and investment properties. Investment purchases typically require a larger down payment — often 20–25% — and may carry higher rates. If the property's rent will carry the payment, a DSCR loan may also be worth comparing.
Along with 12–24 months of bank statements, expect to provide proof of self-employment (such as a business license or CPA letter), a government-issued ID, authorization to pull credit, and homeowners insurance details. Tax returns and W-2s are generally not required for income qualification.
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