The Mortgage WhizNMLS #1547543
📞 Call Now Apply →

No Tax Returns Required

Bank Statement Mortgage Loans — No Tax Returns Required

Get Pre-Qualified

What Is It?

A bank statement loan qualifies your income based on average monthly deposits from your bank account over 12 or 24 months — not your tax returns. If you write off business expenses (which reduces your taxable income) but your bank account shows strong cash flow, this is your loan.

Who Qualifies

  • Self-employed business owners, sole proprietors, LLCs, S-corps
  • 12-month or 24-month bank statement review
  • Credit score: 640+ (80% LTV), 660+ (85% LTV), 700+ (90% LTV)
  • Max DTI: 50%
  • Loan amounts: $150,000 – $3,000,000+
  • No mortgage insurance required above 80% LTV
  • Available for primary residence, second homes, and investment properties

How Income Is Calculated

  1. We take your average monthly deposits over 12 or 24 months
  2. We apply an expense ratio (15%–70%) based on your business type and documentation
  3. The remaining amount becomes your qualifying monthly income
  4. Example: $20,000/month deposits × 50% expense ratio = $10,000 qualifying income
  5. A CPA letter confirming your business expenses can lower your expense ratio and increase your qualifying income

Document Checklist

12–24 months personal or business bank statements | CPA letter (optional but recommended) | 2 years self-employment history | Signed borrower letter of explanation

Fine Print / What Can Go Sideways

Rate is typically 0.5–1.5% higher than conventional. The expense ratio applied by the lender directly impacts qualifying income — getting this right upfront is critical. Mixed personal/business account deposits need clear documentation. We walk you through this before you apply.

Real Scenario

A restaurant owner in Texas had $28,000/month in deposits but only $60K in taxable income after deductions. Using a 50% expense ratio on 24 months of statements, we calculated $14,000/month qualifying income — enough to approve a $1.2M purchase.

Bank Statement Income Calculator

Statement period
Account type

Expense ratio

Custom:

50%

Qualifying Monthly Income: $0

Qualifying Annual Income: $0

Maximum Monthly Payment (45% DTI): $0

Estimated Maximum Loan Amount: $0

Get a full pre-qualification based on your numbers →

This calculator provides estimates only. Actual qualifying income and loan amounts are determined by the lender. Not a commitment to lend.

Bank Statement Loan FAQs

How many months of bank statements do I need?
Most programs require 12 or 24 consecutive months of personal or business bank statements, depending on the lender and your business structure.
Can I use a personal account for a bank statement loan?
Yes, in many cases. Mixed personal/business deposits may require additional documentation to separate business inflows.
Will I pay a higher rate than conventional?
Non-QM bank statement loans typically carry a higher rate than conventional financing — often in the range of 0.5% to 1.5% higher, depending on credit, LTV, and documentation.
What expense ratio will the lender use?
Lenders apply an expense ratio (often 15%–70%) based on your business type and documentation. A CPA letter can support a lower ratio and higher qualifying income.
Can I buy an investment property with a bank statement loan?
Yes — bank statement loans are available for primary residences, second homes, and investment properties, subject to program guidelines.
Do I need a CPA letter?
A CPA letter is optional but recommended when it helps validate business expenses and justify a lower expense ratio.

Get Started

Apply — Get Pre-Qualified Book a Call — Calendly

Also consider:

Business Owner Mortgage → DSCR Rental Property →