Welcome, Entrepreneurs.
There is something different about people who choose to build their own path. Whether you’re a business owner, entrepreneur, freelancer, independent contractor, consultant, gig worker, real estate professional, or 1099 professional, you’ve built something meaningful.
Bank Statement Loans have helped thousands of self-employed borrowers qualify for a mortgage using the way they actually earn income, rather than relying solely on tax returns. If you’re wondering how Bank Statement Loans work, how much you need for a down payment, or whether they’re the right fit for you, you’re in the right place.
We’ve created this resource center to answer the most common questions we hear from self-employed buyers and homeowners, so you can move forward with confidence.
Frequently Asked Questions About Bank Statement Loans
Can I qualify for a mortgage without using my tax returns?
Yes. If you’ve been self-employed for two years or more, a Bank Statement Loan may allow you to qualify using 12 or 24 months of personal or business bank statements instead of tax returns. These loans are designed for business owners whose tax deductions reduce their taxable income, helping many qualified self-employed borrowers purchase or refinance a home.
How much do I need for a down payment on a Bank Statement Loan?
Most Bank Statement Loans require a minimum 10% down payment. At least 5% must come from your own personal funds, while the remaining 5% may be gifted by an eligible family member. Unlike many conventional and government loan programs, down payment assistance programs are generally not available for Bank Statement Loans. Most lenders also require six months of mortgage payments in reserve after closing to help demonstrate financial stability.
Should I Choose a Conventional Loan or a Bank Statement Loan?
It depends on your overall financial picture. If your tax returns already show enough qualifying income, a Conventional Loan may offer the most favorable financing. However, some self-employed borrowers consider claiming more taxable income to qualify conventionally, which can result in paying thousands of dollars more in income taxes. In many cases, a Bank Statement Loan allows business owners to qualify based on their actual cash flow while preserving the tax advantages of legitimate business deductions.
Can I refinance with a Bank Statement Loan?
Absolutely. Self-employed homeowners can often refinance using a Bank Statement Loan to lower monthly payments, access home equity, consolidate debt, or achieve other financial goals without relying solely on tax returns to document income. We also have bank statement equity lines of credit available too!
Keep Learning
The more you understand your options, the more confident you’ll feel. Browse our latest articles designed specifically for self-employed homebuyers and homeowners.
Your Mindset Matters
If you’re self-employed, you’ve already proven you have the courage to build something from the ground up. You are creative, resilient, resourceful, and determined. Those same qualities can help you achieve homeownership.
Whether you’re buying your first home, your forever home, or your next investment, it all starts with getting clear on your vision and creating a plan.
Explore our Homeownership Inspiration Hub for guided exercises, affirmations, homebuyer worksheets, and resources designed to help you gain clarity, build confidence, and take the next step toward your goals.
Explore Our Self-Employed Resource Center
Whether you’re a business owner, freelancer, independent contractor, or entrepreneur, we’ve created this library to help you navigate the mortgage process with confidence. Explore step-by-step learning hubs, planning tools, calculators, videos, and downloadable guides designed specifically for self-employed homebuyers.
Self Emoployed Learning Hub
Your starting point for understanding bank statement loans and self-employed mortgage financing.
Includes:
- Bank Statement Loan Guide
- Qualification Requirements
- Income Calculation Examples
- FAQs
- Downloadable Resources
- Educational Videos
Get Instant answers about a Bank Statement loan
Bank Statement Loans Playlist
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Meet Amy DeBusk
For more than 25 years, Amy DeBusk helped homebuyers and real estate investors navigate the mortgage process with confidence.
As a Certified Mortgage Planner and First-Time Home Buyer Specialist, my mission is simple: to make home financing easy to understand and help you make informed decisions every step of the way.
Whether you’re buying your first home, exploring down payment assistance programs, using your VA benefits, or simply wondering where to begin, my team and I are here to help.
I believe homeownership has the power to create stability, build wealth, and change lives. That’s why I’ve dedicated my career to helping families achieve their homeownership goals.
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Why Self-Employed Borrowers Choose Amy DeBusk Home Loans
- 25+ Years Helping Self-Employed Borrowers Navigate Mortgage Financing
- Bank Statement Loan Specialist for Business Owners & 1099 Professionals
- Multiple Lending Options, Not Just One Program
- Personalized Income Analysis to Maximize Buying Power
- Purchase, Refinance, Cash-Out & HELOC Solutions
- Mortgage Made Easy™ with Clear, Honest Guidance
Helping families and first-time buyers build generational wealth through homeownership
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