Bank Statement Loans for Self-Employed Borrowers

If you’re self-employed, your tax returns don’t always reflect your true income. Write-offs that lower your tax bill can also make qualifying for a traditional mortgage difficult.

That’s where bank statement loans come in.

What Is a Bank Statement Loan?

A bank statement loan allows self-employed borrowers to qualify using 12–24 months of personal or business bank statements instead of tax returns. Lenders review your deposits to calculate an average monthly income that better represents your real cash flow.

Who They’re Best For

• Business owners and entrepreneurs

• Freelancers and independent contractors

• Commission-based professionals

• Real estate investors

Key Requirements

• Typically 660–700+ credit score

• 10–20% down payment

• Proof of self-employment

• Primary homes, second homes, and some investment properties allowed

If you’d like a quick review to see whether a bank statement loan makes sense for you, feel free to reach out.

Chuck Pine
Senior Mortgage Broker
Maine Choice Mortgage
📞 207-949-3770
📧 Contact Chuck Pine NOW!