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Loan guide

Self-employed (bank statement) loan

For self-employed borrowers whose tax returns don't show their real income. Best for: Business owners, freelancers and gig workers with strong bank deposits but heavy write-offs.

Key facts

  • Income is worked out from 12 or 24 months of personal or business bank statements.
  • Down payments are commonly 10% to 20% or more.
  • Rates are higher than standard loans because these are "non-QM" loans.

Pros

  • Qualify on real cash flow
  • No tax returns needed in most cases
  • Works for primary homes, second homes and rentals

Cons

  • Higher rates and fees
  • Larger down payment
  • Needs consistent deposits
Check if I qualify Compare with other loans How much can I afford?

More detail: LoansAndHouses.com loan programs

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Common questions

Who is a Bank statement loan best for?

Business owners, freelancers and gig workers with strong bank deposits but heavy write-offs.

What are the main pros and cons of a Bank statement loan?

Pros: Qualify on real cash flow; No tax returns needed in most cases; Works for primary homes, second homes and rentals. Cons: Higher rates and fees; Larger down payment; Needs consistent deposits.

Figures checked October 2026 and subject to change. Loan limits are updated each January. Program rules, eligibility and pricing vary by lender and borrower. Not a commitment to lend. Bill McElhill, NMLS #2176490, licensed in Florida, Georgia and Texas.

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Educational information only. This page gives general information to help you learn and plan. It is not legal, tax, financial or other professional advice, or an offer to lend. For advice on your situation, talk to a licensed professional. Terms of use

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