Beyond Financing, Inc.
(857) 410-1391

Bank Statement Loans for Self-Employed Borrowers

Self-employed borrowers often earn good money but show a lower income on their tax returns after business write-offs. That can make a traditional mortgage hard to get. A bank statement loan lets a lender calculate your income from the deposits in your personal or business bank statements instead of your tax returns.

Who bank statement loans are for

  • Business owners, 1099 contractors and freelancers
  • Construction, cleaning, landscaping, trucking and other trade business owners
  • Real estate agents and other commission-based professionals
  • Borrowers whose tax returns do not reflect their real cash flow

How income is calculated

Lenders usually review 12 or 24 months of bank statements. For business accounts, they apply an expense factor (or use a CPA-prepared profit and loss statement) to estimate your income. For personal accounts, they typically average your regular deposits. Each lender has its own method, which is why comparing lenders matters.

What else lenders look at

  • Proof you have been self-employed for a period of time, such as a business license, CPA letter or state registration
  • Credit history and score
  • Down payment and reserves, which depend on the lender, the property and your credit

Why Beyond Financing

We are a broker, so we can compare bank statement programs from several wholesale lenders and match you with the one that fits how your business actually earns. Many of our clients are Brazilian-American business owners, and we serve them in Portuguese.

Related: ITIN mortgage loans · Empréstimo para autônomos em português

Frequently asked questions

Can I get a mortgage without tax returns if I am self-employed?

Yes. Bank statement loans are non-QM mortgages that calculate income from 12 or 24 months of bank deposits instead of tax returns. Beyond Financing, Inc. (NMLS #2394496) in Saugus, MA helps self-employed borrowers compare these programs.

How many months of bank statements do I need?

Most lenders ask for 12 or 24 months of personal or business bank statements. Requirements vary by lender.

Are rates higher on bank statement loans?

Non-QM loans such as bank statement loans usually carry higher rates than conventional loans because documentation is different. Pricing depends on credit, down payment and the lender.

Talk to a Beyond Financing loan officer: (857) 410-1391 · Apply now · Send us a message · Atendimento em português

Beyond Financing, Inc. | NMLS #2394496 | 999 Broadway, Suite 500-N, Saugus, MA 01906 | (857) 410-1391. Mortgage Broker only in CA, CT and MA; Mortgage Broker and Correspondent Lender in FL, NH, NC, RI, SC and TX. See our Licensing page and NMLS Consumer Access. Equal Housing Opportunity. This is not a commitment to lend. All loans are subject to credit approval, property approval, underwriting guidelines and program availability, and terms may change without notice. Not all applicants will qualify. Program availability varies by state.