Bank Statement Loans
No Tax Returns Required
Use 12–24 months of personal or business bank deposits to qualify. Perfect for self-employed, 1099, gig workers, and business owners.
Close in 15 Days • Up to 90% LTV • Credit Scores as Low as 620
Program Highlights
No Tax Returns
We use 12 or 24 months of bank statements (personal or business) to verify income.
Up to 90% LTV
Purchase up to 90% loan-to-value. Refinance up to 80%.
Close in 15 Days
Fast underwriting and funding – no red tape.
Qualification Made Simple
- 12 or 24 months personal or business bank statements
- Credit score as low as 620
- Loan amounts up to $3,000,000
- Self-employed, 1099, gig workers, business owners
- No PMI on most programs
- Gift funds allowed for down payment
Get Pre-Approved in 60 Seconds
Frequently Asked Questions
Stop Letting Banks Say No
Get approved with your bank statements today.
Get Pre-Approved Now – Takes 60 SecondsEverything You Need to Know About Bank Statement Loans
The perfect mortgage solution for self-employed homebuyers!
Flex Loans
Flex Loans are tailored for self-employed individuals who need a mortgage solution without the hassle of tax returns. With our unique program, you can qualify using just 12-24 months of your bank statements, making the process simple and straightforward. No more digging through tax documents! Whether youʼre buying a primary residence, a second home, or an investment property, our Flex Loans provide flexible terms and competitive rates. You can borrow up to $3.5 million, with low down payment options available. Say goodbye to traditional mortgage barriers and hello to homeownership with Flex Loans!
Easy Approval
Easy Approval is designed for self-employed borrowers who want a smooth mortgage experience. Forget about complicated paperwork and focus on what matters—your business! With our Easy Approval program, you can qualify without the stress of tax returns. By using 12-24 months of your bank statements, we make the approval process quick and hassle-free. Enjoy the freedom to borrow up to $3.5 million with flexible down payment options. Whether itʼs your dream home or an investment property, Easy Approval helps you take the next step in your journey without unnecessary roadblocks. Let’s make homeownership a reality!
Smart Financing
Smart Financing is perfect for self-employed individuals seeking a mortgage option that aligns with their unique income structure. This program allows you to demonstrate your financial stability using 12-24 months of bank statements instead of tax returns. With Smart Financing, you can access loan amounts up to $3.5 million and enjoy low down payment options that start as low as 10%. Whether you’re buying a primary home, a second property, or an investment, this program offers the flexibility you need. Take control of your financial future and unlock the door to your dream home with Smart Financing!
Client Success
I was struggling to secure a mortgage as a self-employed entrepreneur. Jhenesis Mortgage made the process incredibly simple! Their bank statement loan program allowed me to use my bank statements instead of tax returns. I was amazed at how quickly I was approved and how friendly the team was. Now, I own my dream home without the stress! I highly recommend them to anyone in a similar situation!
Alex Thompson
Bank Statement Loan Guide for Self-Employed Borrowers
What Is a Bank Statement Loan?
A Bank Statement Loan, specifically tailored for self-employed borrowers, offers a unique mortgage option. Instead of relying on traditional income verification like tax returns, you can conveniently qualify by submitting 12-24 months of personal or business bank statements. Consequently, this approach simplifies the process for those with non-traditional income.
Who Qualifies for a Bank Statement Loan?
Primarily, self-employed individuals, who own at least 25% of a business, are eligible. Additionally, non-self-employed co-borrowers can also qualify, provided one borrower meets the criteria. Therefore, this program broadens access for mixed-income households.
What’s the Minimum Down Payment?
Typically, down payments range from 10% to 20%, depending on factors like the loan product, credit score, and income. For instance, a higher credit score might lower your down payment, thus making homeownership more achievable.
What Costs Are Involved?
Expect to encounter closing costs, which generally span 2%-5% of the loan amount. Moreover, interest rates may be slightly higher, and, in some cases, lenders require reserves of 3-12 months of mortgage payments. As a result, budgeting for these expenses is crucial.
Which Property Types Qualify?
You can finance primary residences, second homes, and investment properties (1-4 units) with ease. However, manufactured homes, co-ops, and raw land are, unfortunately, ineligible. Thus, focus on traditional residential properties for this loan.
How Much Can You Borrow?
Loan amounts, impressively, reach up to $3.5 million, depending on the product and your qualifications. Consequently, this flexibility supports diverse financial goals, from modest homes to larger investments.
What Are the Benefits?
- Notably, no tax returns or W-2s are required, simplifying the process.
- Furthermore, income calculation is flexible, accommodating unique earnings.
- Ideally, this suits entrepreneurs, freelancers, and business owners.
Why Choose a Bank Statement Loan?
- Clearly, no tax returns are needed—qualify using bank deposits instead.
- Impressively, borrow up to $3.5 million based on your financial profile.
- Conveniently, down payments start as low as 10%, depending on credit and loan size.
- Additionally, finance primary residences, second homes, and investment properties (1-4 units).
- Finally, higher DTI ratios, up to 55%, are allowed, depending on the program.
Bank Statement Loan Requirements
- Primarily, at least one borrower must be self-employed for two years and own 25% of the business.
- For income, provide 12-24 months of bank statements from one account, ensuring no comingling of personal and business deposits.
- Regarding credit, a minimum score of 620-660 is required, depending on the program.
- Moreover, borrow up to 90% LTV with competitive rates.
- Lastly, reserve requirements vary by loan amount, property type, and credit profile.
Bank Statement Loan Programs
Bank Statement 30-Year Fixed – Yellow
- Max Loan Amount: $3,000,000
- Max LTV: 90%
- Min FICO: 620
- Max DTI: 50%
Bank Statement 30-Year Fixed – Orange
- Max Loan Amount: $3,500,000
- Max LTV: 90%
- Min FICO: 660
- Max DTI: 55%
Bank Statement 30-Year Fixed – Pink
- Max Loan Amount: $3,000,000
- Max LTV: 85%
- Min FICO: 660
- Max DTI: 50%
Bank Statement 30-Year Fixed – Blue
- Max Loan Amount: $2,000,000
- Max LTV: 80%
- Min FICO: 660
- Max DTI: 50%
Is a Bank Statement Loan Right for You?
If you’re an entrepreneur, freelancer, or small business owner, a Bank Statement Loan might be ideal. Particularly, if traditional mortgage approval is challenging, this option shines. With flexible guidelines, competitive rates, and higher loan limits, you can, therefore, achieve homeownership or investment goals. Consequently, contact Jhenesis Mortgage today to explore your eligibility!