Bank statement loans are designed for self-employed borrowers, business owners, and independent contractors who earn strong income but don’t qualify easily using traditional tax returns. Instead of W-2s or full tax documentation, these loans use personal or business bank statements to verify income.
At Seattle Mortgage Pros, we help self-employed borrowers use bank statement loans to qualify for home purchases or refinances with clarity and confidence.
A bank statement loan is a type of Non-QM mortgage that allows borrowers to qualify using 12 or 24 months of bank statements rather than tax returns. This approach provides a more accurate picture of real cash flow—especially for borrowers who write off expenses.
These loans are commonly used by:
Bank statement loans are fully compliant mortgage products designed for non-traditional income situations.
Instead of tax returns, lenders review bank statements to determine average monthly income. Depending on the program, this may include:
Lenders apply expense factors or cash-flow analysis to calculate qualifying income, providing flexibility while maintaining responsible underwriting standards.
Bank statement loans can be used to purchase a primary residence, second home, or investment property, depending on program guidelines. These loans allow self-employed buyers to qualify based on actual cash flow rather than taxable income.
Refinancing with a bank statement loan may allow homeowners to:
This can be especially helpful for borrowers who qualify differently today than when they originally purchased.
Bank statement loans are often ideal for borrowers who:
When structured correctly, these loans open doors that traditional lending may close.
While program details vary, bank statement loans typically offer:
Because these loans are customized, working with an experienced lender is critical.
Seattle Mortgage Pros specializes in self-employed and non-traditional financing. We help borrowers understand which bank statements to use, how income is calculated, and how to structure the loan for long-term success.
Our process focuses on:
If you’re self-employed and struggling to qualify using traditional income documentation, a bank statement loan may be the solution. With the right approach, these loans can provide flexible financing that aligns with how you actually earn income.
Seattle Mortgage Pros is here to help you explore your bank statement loan options with confidence.
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