Bank Statement Loans
Self-employed and your tax returns undersell you? Your bank statements can qualify you instead.
Overview
A bank statement loan qualifies you using 12-24 months of business or personal bank deposits instead of tax returns. If you're self-employed, a contractor, or a business owner, you probably write off everything you legally can — great for your tax bill, terrible for your debt-to-income ratio on paper. Bank statement programs look at what your business actually deposits, which is usually a much fairer picture. Portland runs on small businesses and 1099 income; this is the loan built for how you actually get paid.
Who It's For
How It Works
Deposit Review
Send 12-24 months of statements. We calculate your qualifying income the way the program will, so you know your real budget before you shop.
Program Match
Bank statement, or would full documentation actually price better for you? We check both — sometimes the boring answer wins.
Approval
Underwriting reviews deposits instead of tax returns. We package the file so your business's story is obvious on the first pass.
Close
Same closing as any other loan. Your CPA never has to unwind a single write-off.
Requirements
These are general guidelines, not a quote or commitment to lend. Actual terms depend on credit approval, income, and underwriting — not all applicants will qualify, and programs and requirements are subject to change without notice. Through Movement Mortgage we have access to additional programs with different requirements. Contact David & Bri for options specific to your situation.
Pros & Cons
Advantages
Considerations
FAQ
5 questions
How do bank statement loans work?
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Instead of tax returns, the lender reviews 12-24 months of bank deposits and applies an expense factor to estimate your real income. If your business deposits $30k a month but your 1040 shows $60k a year after write-offs, this is the difference between qualifying and not.
Do I need to stop writing things off to buy a house?
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No — that's exactly what this program avoids. Conventional wisdom says self-employed buyers should show more income on their taxes for two years before buying. A bank statement loan skips that: keep your tax strategy, qualify on deposits.
Are the rates higher on a bank statement loan?
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Somewhat, yes — you're paying for documentation flexibility. But the honest comparison isn't bank-statement vs. conventional rates; it's bank-statement vs. not qualifying at all, or vs. two years of overpaying taxes to look better on paper. We'll show you the real math.
Can I refinance with a bank statement loan?
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Yes — both rate-and-term and cash-out refinances work with bank statement documentation. If you bought with a higher-rate program and your deposits have grown, refinancing into better terms is a common move.
What if my deposits are irregular?
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Seasonal and lumpy income is normal for small businesses, and underwriters know it. Programs average your deposits over 12-24 months precisely for this reason. Big one-time transfers need explaining, but a busy summer and slow January won't sink you.
Ready to explore self-employed?
Schedule a complimentary consultation. We'll review your situation and tell you honestly whether this is the right move.