The Mortgage Sensei

BANK STATEMENT LOANS · 11 STATES

Bank Statement Mortgage Loans for Self-Employed Buyers

Qualify using your business or personal bank deposits instead of tax returns. A fit for owners, freelancers and 1099 earners in the 11 states where I am licensed.

Licensed in 11 states

Compare many lenders

No-pressure advice

WHAT IT IS

Income verified by your deposits

A bank statement loan estimates your monthly income from 12 or 24 months of bank deposits. Tax returns, which often show reduced income after write-offs, are not the main qualifying document.

Lenders typically apply an expense factor to business deposits, or ask for a CPA letter to support the figures. Guidelines, down payment and rates vary by lender.

12 or 24 months of statements

Most programs review one or two years of personal or business bank statements.

Write-offs do not hold you back

Qualifying income is based on deposits, not the net income left after deductions.

Home or investment

Many programs cover owner-occupied homes and some cover second homes and investment purchases. Availability varies.

Purchase or refinance

Use it to buy a home, or to refinance and, on some programs, take cash out.

HOW IT WORKS

From statements to closing

01

Gather statements

Collect 12 or 24 months of personal or business bank statements.

02

Income analysis

I review your deposits, remove transfers and one-time items, and estimate qualifying income.

03

Compare lenders

I check programs across lenders for rate, down payment and reserve requirements.

04

Close

Appraisal, underwriting and closing follow, with updates from me along the way.

LOCAL KNOW-HOW

Self-employed buyers in 11 states

Program availability can vary by state and by lender. I check what is offered where your property is located.

Virginia

Contractors and small business owners

Northern Virginia consultants, Richmond business owners and Hampton Roads contractors often have income that tax returns understate.

Tennessee

Creatives, practitioners and trades

Nashville creatives, independent practitioners and trades owners across Tennessee may use deposits to show income.

Georgia

Entrepreneurs and 1099 earners

Georgia business owners, real estate agents and gig workers often compare bank statement options.

FAQ

Bank statement loan questions

Who qualifies?

Self-employed borrowers, usually with at least two years in business, steady deposits and acceptable credit. Exact requirements depend on the program.

Do I need tax returns?

Most bank statement programs do not use them to qualify, though a lender may ask for other business documents such as a license or CPA letter.

How much down payment is needed?

It varies by lender and credit profile. Many programs ask for more down payment than agency loans, so I compare several.

NEXT STEP

Curious what your deposits can support?

Send me a few details and I will outline your options. No obligation.

Duane Buziak, NMLS #1110647, Coast2Coast Mortgage, LLC, NMLS #376205. Licensed in VA, FL, TN, GA, NC, SC, MD, DC, WV, TX and KY. Equal Housing Lender. This information is educational and is not an indication of loan qualification, approval or a commitment to lend. Rates, programs and guidelines change and are subject to credit approval.