What does a mortgage loan originator do vs. a bank?

A bank offers only its own loan products. A mortgage loan originator shops your loan across 175+ wholesale lenders to find the best rate, terms, and program for your situation.

How do I get pre-approved?

Apply through one of our lender portals or contact me directly. I will pull your credit, verify income and assets, and issue a full pre-approval letter, typically within 24 hours.

How much do I need for a down payment?

Conventional loans start at 3% down, FHA at 3.5%, and VA loans require zero down payment.

When does it make sense to refinance?

Generally when you can lower your rate by 0.5% or more, shorten your term, or access equity. The key is whether monthly savings outweigh closing costs within your planned timeframe.

A DSCR loan qualifies based on the rental income of an investment property rather than your personal income. No tax returns or pay stubs required.

What is PMI and how do I get rid of it?

PMI is required on conventional loans with less than 20% down. It drops automatically at 78% LTV, or you can request removal at 80% LTV.

Bank Statement Loans

Qualify using 12 or 24 months of bank deposits instead of tax returns — built for self-employed borrowers and business owners.

Bank Statement Loans at a Glance

Program Highlights

✓ 12 or 24 months bank statements
✓ Personal or business accounts
✓ No tax returns required
✓ Self-employed 2+ years
✓ Loan amounts up to $3M
✓ Primary, second home, investment

Requirements

✓ 660+ credit score
✓ 10-20% down payment
✓ 2+ years self-employment
✓ CPA letter or business license
✓ 50% expense factor (personal) / 100% (business)
✓ 6-12 months reserves

Why Self-Employed Borrowers Love This Program

If you're self-employed, your tax returns probably don't reflect your true income — write-offs, depreciation, and business deductions reduce your taxable income. Bank statement loans look at your actual deposits instead. The lender reviews 12-24 months of statements and uses average monthly deposits as your qualifying income. For business accounts, most lenders apply an expense factor (typically 50%) to determine net income. This program is a game-changer for business owners, freelancers, gig workers, and 1099 contractors who show strong cash flow but modest taxable income.

The Bank Statement Process

Gather Statements

Twelve or twenty-four months of personal or business bank statements — no tax returns required.

Income Calculation

Deposits are averaged and reduced by an expense factor: 50% on personal accounts, or up to 100% of qualifying deposits on business accounts.

Verify the Business

A CPA letter or business license confirms two or more years of self-employment.

Underwrite & Close

Loan amounts run up to $3M across primary, second home, and investment properties.

Who Bank Statement Loans Work Best For

Business Owners

Strong deposits but a tax return that understates real income after deductions.

1099 Contractors

Independent contractors and gig workers whose income does not fit a W-2 box.

Commission-Based Earners

Realtors, brokers, and sales professionals with variable but consistent deposit history.

Heavy Write-Off Filers

If aggressive deductions have disqualified you from conventional financing, deposits tell the truer story.

Try the Payment Calculator Non-QM Explained

Get a Bank Statement Loan Quote

Andrew Baker · NMLS 2688601 · (949) 665-9090

Ready to Get Started?

Fill out our quick form or apply directly through one of our lender portals.

Apply Online Save My Contact Secure Upload Schedule a Meeting