Bank Statement Loans
Jhenesis Mortgage Bank Statement Loans for Self-Employed are designed for those who think outside the box. If you’re self-employed, a 1099 worker, or a gig economy hustler, this is your solution! Instead of tax returns, we use 12 to 24 months of your personal or business bank deposits to verify your income. With loan amounts up to $3,000,000 and a credit score requirement as low as 620, you can secure up to 90% loan-to-value for purchases and 80% for refinancing. Plus, our fast underwriting means you can close in just 21 days. Say goodbye to red tape and hello to your dream home!
Fast Closing
With our Fast Closing option, we make your dreams a reality in record time! Need to close on a new home quickly? We’ve got you covered. Jhenesis Mortgage Bank Statement Loan for Self-Employed streamlined process allows you to close in as little as 21 days, so you can move into your new space sooner than you thought possible. No more waiting around or unnecessary delays! We prioritize your time and ensure that all paperwork is handled efficiently. Whether you’re purchasing or refinancing, our fast underwriting and funding means you can focus on what truly matters—settling into your new home and enjoying life!
Smart Financing
Jhenesis Mortgage Bank Statement Loan for Self-Employed cater to your unique financial situation. Whether you’re a self-employed individual, a gig worker, or a business owner, we understand that your income may not fit the traditional mold. Thatʼs why Jhenesis Mortgage offer loans with no PMI on most programs and allow gift funds for your down payment. You can choose between 12 or 24 months of bank statements to qualify, making it easier for you to get the financing you need. With loan amounts up to $3,000,000 and credit scores starting at just 620, we’re here to help you find a path that fits your life and goals!
Bank Statement Loan for Self-Employed
No Tax Returns Required
Many 1099 workers, business owners, and gig economy professionals find that their tax returns don’t reflect their true income. With our bank statement loans, you can qualify using just 12 or 24 months of bank statements. We serve clients in Florida, Georgia, Maryland, and Washington D.C.
You can close in as little as 21 days • Enjoy up to 90% LTV • We accept credit scores as low as 620
Key Benefits of Bank Statement Loans for Self-Employed Borrowers
These loans help self-employed individuals buy or refinance homes without the hassle of traditional documentation. For example, we focus on your deposits instead of tax returns.
Flexible Statement Options
You choose personal or business bank statements — whichever works best for you.
No Tax Returns Needed
We skip tax returns and 1099s completely, so you avoid common roadblocks.
Quick and Straightforward Process
We design our system specifically for self-employed borrowers, making approval faster and easier.
Simple Qualification Steps for Bank Statement Loans
Most borrowers qualify quickly. Additionally, our team guides you through every step.
- You provide 12 or 24 months of bank statements (personal or business)
- We require no tax returns or W-2s
- You need to show self-employment for at least 2 years
- We offer up to 90% LTV for purchases and 80% for cash-out
- We accept credit scores as low as 620
- You can borrow up to $3,000,000
- We use a 50% expense ratio for personal accounts or actual expenses for business
Start Your Bank Statement Loan Pre-Approval Today
Complete the short form below. In addition, our specialists will contact you promptly with options.
Common Questions About Bank Statement Loans for Self-Employed
Do I need to provide tax returns?
We design bank statement loans to skip tax returns completely. Therefore, you avoid that requirement.
Can I use personal or business bank statements?
Yes! Choose personal, business, or a mix. We always apply the best expense ratio for you.
How many months of statements are required?
Most lenders accept 12 months. However, some programs allow 24 months if it helps your qualification.
How fast can these loans close?
You typically close in 21–30 days. In fact, many clients finish in just 21 days.
Ready to Move Forward with a Bank Statement Loan?
Don’t let low tax returns stop you. Instead, use your real deposits to qualify today.
Get Pre-Approved Now – 60 Seconds
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!
Amy Thomas
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!