Our bank statement loans were designed specifically for entrepreneurs, independent contractors, small business owners, and self-employed borrowers. They allow you to verify your income without using tax returns. Because your time should be spent running your business, not running down paperwork for a mortgage.
It's common for borrowers to verify their income using tax returns and W-2s. But not all borrowers can prove their income and assets this way. A bank statement loan allows self-employed borrowers, small business owners, entrepreneurs, and freelancers to obtain a mortgage without traditional documentation. And believe it or not, the application process is easier than you think.
Self-employed mortgage requirements
Credit scores of 600+
Maximum debt-to-income ratio (DTI) of 50%
Employment verification from clients or a CPA
Two years of personal income tax returns
Two years of business tax returns including schedules K-1, 1120, and 1120S
Bank statements showing you have access to sufficient funds
Year-to-date profit and loss statement (P&L)
Bank statement loan benefits
Finance owner-occupied homes, second homes & investment properties
Borrow up to 80% of the home's value; up to 90% with proper reserves and credit
No tax returns required
No paying private mortgage insurance (PMI)
Here's how it works:
Call, text, or chat with a salary-based mortgage consultant
Must be in business for two or more years
Provide documentation such as:
Your business license
12 months of personal and 24 months of business bank statements
Signed CPA letter stating you are still in business
Receive your custom, low rate home loan
Get started with a bank statement mortgage loan
Affordable loans with easy qualifications and flexible down payments are possible. Let our self-employed mortgage guide teach you more about what to expect.
Or better yet, contact one of our salary-based mortgage consultants to learn more about custom loan options that make sense for you. We're even open nights and weekends to fit your schedule.