Bank Statement Loans

A bank statement loan is a Non-QM mortgage that qualifies self-employed borrowers using deposits on their bank statements instead of tax returns or W-2s.

Business owners, independent contractors, real estate agents and other self-employed borrowers, especially those whose tax returns show lower income after write-offs.

Typically 12 or 24 months, depending on the program.

Either, depending on the program. Business statements usually apply an expense factor or use a CPA-prepared expense letter or profit and loss statement to calculate income. See our 1099-Only Program for contractors paid on 1099s.

Generally, no. Bank statement programs typically don't require personal or business tax returns. Lenders still review credit, assets, reserves and the property, subject to guidelines.

Yes. Licensed brokers can submit bank statement and other Non-QM files through TAG's wholesale channel in the states where TAG is licensed as a lender.

Yes. Florida business owners, independent contractors and other self-employed buyers can qualify using 12 or 24 months of personal or business bank statements instead of tax returns, through select investor programs. TAG Lending Group is a licensed mortgage lender in Florida (NMLS #2329372) and reviews the deposit history before submission so the income used matches what underwriting will accept.

Often yes. Bank statement programs are available for primary residences, second homes and investment properties, including condos, through select investor programs. The condo project is reviewed separately, so send the building and the HOA questionnaire early. A profit-and-loss (P&L) option is also available for borrowers whose deposits don't tell the full story.