Who this is for
Who uses bank statement loans
Business owners
Contractors, restaurant owners, tour operators, realtors.
1099 earners
Independent contractors with steady deposits.
Gig and seasonal workers
Averaging smooths out busy and slow months.
Write-off heavy filers
Your accountant did their job; now your mortgage file should reflect real cash flow.
Program highlights
How income is calculated
Personal statements
Usually 100% of qualifying deposits.
Business statements
Deposits times an expense factor, or a CPA letter with your actual ratio.
12 or 24 months
Pick the period that shows your income best.
Large deposits
Explained and documented, transfers excluded.
Qualification guidelines
What lenders look at
Typical guidelines across my lender network. Every file is different, and I will tell you exactly where you stand after a quick review.
| Factor | Typical requirement | Required? |
|---|---|---|
| Self-employment | Usually 2 years | ✓ YES |
| Bank statements | 12–24 months | ✓ YES |
| Credit score | Varies; higher scores need less down | ✓ YES |
| Reserves | Often 3–12 months | ✓ YES |
| Tax returns | Not needed | ✗ NOT REQUIRED |
In Hawaii
Self-employed in Hawaii
- Tourism businesses often have seasonal deposits; 24 months can average that out.
- Pair it with jumbo for higher-priced homes. Jumbo →
- Prefer a P&L? P&L-only loans →
How it works
From first call to closing
- Send statementsI review deposits before you apply.
- Income calcI show you the qualifying income.
- ShopNon-QM lenders compete.
- CloseClose in 3–5 weeks.
Common questions
Bank Statement FAQ
Do I need tax returns at all?
No tax returns for income. You'll still provide statements, ID, assets and business verification.
Personal or business statements?
Either. Personal usually counts more deposits; business uses an expense factor.
Are rates higher?
Usually somewhat higher than conventional, depending on credit and down payment.
How long must I be self-employed?
Usually two years, sometimes less with prior experience in the same field.
Sources: 12 CFR 1026.43 (ability-to-repay); lender non-QM guidelines vary.
Bank statement, P&L, DSCR, ITIN, foreign national, condotel and fix-and-flip programs are non-QM or business-purpose products. They are not conventional, FHA, VA or USDA loans, and rates and down payments are typically higher.
