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Bank statement program
Qualify with 12 or 24 months of bank deposits instead of tax returns. Built for business owners whose returns don't tell the whole story.
Who it's for
Self-employed borrowers and 1099 contractors.
How it works
- We average deposits from your personal or business bank statements to establish income.
- Rates and down payment requirements are higher than agency loans because the investor takes more risk.
What you'll need
- 12 or 24 months of statements from the same accounts
- A business license or CPA letter showing two years in business
Most people feel Non-QM means bad credit, when in fact it's the opposite. Non-QM really assists the self-employed and allows for combined income options, such as standard W2 and paystub income along with asset utilization.
I had a client with great credit and great income, but the debt-to-income ratio on the house they wanted was just a little high. We combined their W2 income with an asset utilization loan, since they had significant funds sitting in a 401(k). Moving to the Non-QM program allowed the borrower to qualify and close on the house.
— John Murphy, Business Development Manager · NMLS 236868
Common questions
Do I need perfect credit?
No, but credit still matters. Guidelines vary by investor.
By design this page shows no rates, APRs, payments, or down-payment percentages. Those figures are only published with the full disclosure block required by Regulation Z.