Bank Statement Loan – Self-Employed*

No Tax Returns Needed to Qualify

If you have been self-employed for 2 years and maximize your tax deductions to minimize your tax liability, but have excellent cash flow, it is now possible to document your income by adding up the deposits on 3 to 24 of your most recent bank statements. The more statements you qualify with, the lower the rate you will be eligible for. The total deposit will replace the income reporting on your tax returns for qualifying.

*25% (or greater) ownership interest in a business in considered self-employed.

Program Highlights:

  • Available in Hawaii and California
  • Primary Residence, Second Home, or Investment property
  • Qualify with personal or business statements
  • Credit depth has been reduced
  • Minimum loan amount: $300,000
  • Maximum loan amount: $5,000,000
  • Debt-to-Income (DTI) up to 50%
  • Self-employed borrower may supplement bank statement income with additional income derived from an asset amortization formula
  • Retirement and other income allowed
  • At least one borrower must be self-employed; a W-2 co-borrower is allowed

Eligible Property Types:

  • Single Family Homes
  • Condominiums
  • Condotels
  • Site Condos (Hawaii CPR properties)
  • Airbnb, VRBO, etc.

Loan Terms:

  • 5/1 ARM – interest only available
  • 7/1 ARM
  • 10/1 ARM
  • 15-year Fixed
  • 30-year Fixed
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