Your Tax Returns Don't Tell Your Whole Financial Story — Your Bank Statements Do
If you own a business, you already know the frustration: your CPA does a great job minimizing your taxable income, and then a mortgage lender turns around and tells you that same low number is all they can count as “income.” A bank statement loan fixes that disconnect by qualifying you based on what actually lands in your bank account, not your adjusted gross income.
How Bank Statement Loans Work
We review 12 to 24 months of personal or business bank statements.
An average monthly deposit figure is calculated and used to determine your qualifying income — write-offs and deductions don't drag that number down.
Down payment starts around 10%, higher than a standard conventional minimum.
Because underwriting relies on alternative documentation instead of tax returns, interest rates run somewhat higher than a fully-documented conventional loan — a trade-off most business owners find worth it in exchange for qualifying at all.
Built For
Business owners and LLC/S-corp/C-corp principals
1099 independent contractors and consultants
Gig-economy earners with variable monthly income
Real estate agents, freelancers, and commission-based professionals
Anyone previously told “you don’t qualify” based on tax-return income alone.
Personal vs. Business Bank Statements
Depending on your business structure and how income flows through your accounts, we can typically use either personal account statements or business account statements (sometimes a blend of both) — whichever paints the most accurate, favorable picture of your true income.
What to Expect During Bank Statement Underwriting
Gather your statements
Provide 12 or 24 months of consecutive personal or business bank statements — we'll tell you which produces the strongest qualifying income.
Calculate qualifying income
We average your deposits and apply the program's expense ratio to arrive at a monthly income figure that reflects what your business actually generates.
Determine your budget
That income figure drives your debt-to-income ratio and the loan amount you can support — a real number, not a guess.
Move to closing
Once your income is verified and the property is under contract, we lock your rate and move through processing to closing.
Built for Utah's Self-Employed Community
Utah has one of the strongest small-business and self-employment rates in the country, and a lot of those owners get sidelined by a mortgage process built around W-2s. Bank statement loans were built for exactly this gap — recognizing that healthy cash flow matters more than a line on a tax return.
Local expertise on Utah business income
Flexible across sole props, LLCs, and corps
Qualify on deposits, not taxable AGI
Frequently Asked Questions
How many months of statements do I need?
Most programs use 12 or 24 months; 24 months of history can sometimes qualify you for better terms.
Will my rate really be higher than a conventional loan?
Typically yes, because bank statement loans are considered alternative documentation and carry slightly more risk for the lender. We'll show you the exact rate impact before you commit.
Do I need two years of self-employment to qualify?
Most programs want at least one to two years in business — we can review your specific timeline.
Can I use this for a primary residence and a second home or rental?
Yes, bank statement programs are available across occupancy types, though terms vary.
What expense ratio is applied to my deposits?
Programs apply a standard expense ratio to gross deposits to estimate net income — often around 50% for business accounts, though it varies. We'll run the exact calculation for your statements so you see your real qualifying income.
Can I use business statements if I pay some personal expenses from the business account?
Often, yes. If your business and personal expenses are commingled, we can structure the file around the account history that tells the cleanest story and document the rest accordingly.
Get a Real Answer Based on Your Real Income
Send us a few months of statements and we'll tell you what you actually qualify for — no tax return required for this initial conversation.
Start My Bank Statement Loan Review