If you are self-employed, your tax return often understates what you actually earn. Write-offs that help at tax time can make a conventional loan look like a stretch. A bank statement loan looks at deposits in your personal or business accounts instead of two years of W-2s.
Who this is for
Freelancers, business owners, 1099 contractors, and anyone whose tax return does not match cash flow. You still need a real income story. The difference is how that income is counted.
What lenders usually look at
Most programs review 12 or 24 months of statements. They average eligible deposits, then apply a factor. Large one-off transfers, cash deposits, and money bouncing between your own accounts are often excluded. That is why a clean statement history matters more than a single strong month.
Credit, down payment, and property type still count. A bank statement loan is not a “no credit check” product. Typical credit floors sit in the 660–680 range, with better pricing higher. Down payment is commonly 10–20% depending on occupancy and the rest of the file.
Personal vs business statements
Personal statements are simpler if your income lands in one account. Business statements work when revenue hits the company first. Mixing both without a clear rule is where files stall. Pick the set that actually shows the income you live on.
What to have ready
- 12 or 24 months of statements (same account, no missing months)
- A short description of the business
- Credit range and how you will use the property (primary, second home, or investment)
- Down payment source
You do not need to send tax returns for this type of loan in many cases. If a lender later asks for a CPA letter or a P&L, that is a different overlay — not the core bank-statement idea.
Next step
If this sounds like your situation, use the form on this page. Someone licensed will follow up. This page is general information, not a commitment to lend.