If you run your own business, you already know that what you report to the IRS and what you actually bring home are two very different things. Legitimate deductions are there to be used — but they can make your taxable income look a lot smaller than your real financial picture.
A Bank Statement Loan solves that problem. Instead of using tax returns to verify income, we look at your actual bank deposits over the past 12 to 24 months. Simple, logical, and fair.
The process is straightforward. We collect your personal or business bank statements for the past 12 or 24 months and calculate your average monthly deposits. That average becomes the basis for your qualifying income. No tax returns. No W-2s. No employer verification.
For business bank statements, we typically apply an expense factor to account for business costs and arrive at your net income. For personal bank statements, deposits are generally taken at face value. Every lender handles this a little differently, which is why working with a broker like Mark Stillman — who can shop multiple wholesale lenders — gives you a real advantage.
Bank Statement Loans are commonly used by self-employed borrowers purchasing primary residences and second homes. Instead of relying on tax returns, lenders review bank deposits to understand your actual cash flow and ability to repay.
While we don’t use tax returns for income, you’ll still provide:
Quick Consultation: Tell us about your income, how long you've been self-employed, and what you're looking to buy or refinance.
Statement Review: We collect and analyze your bank statements to determine your qualifying income.
Options Presented: We shop our wholesale lenders and present you with the best available programs and rates.
Application and Approval: Once you choose a program, we move through underwriting quickly and efficiently.
Closing: We coordinate every detail so your transaction closes on time and without surprises.
As a licensed broker, we’re not limited to one bank’s programs. We have access to multiple wholesale lenders offering Bank Statement Loans, which means we can compare pricing, rate structures, and qualification criteria to find the right fit for your specific situation. We’ve helped self-employed borrowers in California and Texas qualify for home financing when banks turned them away — and we’d like to help you too.
