How Bank Statement Loans Work

If your tax returns show less income than your business really brings in, a bank statement loan may be worth a look. Instead of relying on tax returns, these programs review deposits in your bank accounts to look at income.

Who it can help. Business owners, 1099 contractors, freelancers and other self-employed borrowers whose write-offs lower their taxable income.

Business or personal statements. Depending on the program, we can look at business accounts, personal accounts or both. Some programs use 12 months of statements.

Self-employed for about a year? Many loans look for two years, but some programs may work with one year of self-employment.

Know the tradeoffs. These loans can come with higher rates or larger down payments than a conventional loan. If a conventional, FHA or VA loan is a better fit, we'll tell you.

What to have ready. Recent business and personal bank statements, how long you've been in business, and details on the home you're buying or refinancing. We'll tell you what else we need before you pull everything together.

See all of our self-employed loan options.

Not sure if it fits? Call or text (303) 931-6776.

Not all programs are available in every state. All loans are subject to credit approval. Rates, terms and conditions vary by program.

Stephanie Cramm, NMLS #243972 | David Cramm, NMLS #565968 | Xpert Home Lending, Inc. NMLS #2179191 | Equal Housing Lender