Your business is real. Your home loan should fit it.
If your tax returns don't show what you actually bring in, a bank statement loan may let a lender look at your deposits instead. I know the feeling. I bought my own home with one.
Mark Forbes, NMLS #2882381 · Licensed in Texas · Central Texas focus
Built for people who sign their own paychecks
Write-offs are smart for your business, but they can make your income look smaller on paper.
Barbers and stylists
Booth renters and shop owners with income that comes in every day, not every two weeks.
Contractors and trades
Plumbers, electricians, remodelers and crews paid by the job.
Realtors and 1099 earners
Commission and contract income that swings month to month.
Small business owners
Shops, studios, food trucks, LLCs and S-corps.
Bank statements instead of tax returns
- Talk it throughWe look at how you get paid and which loan types could fit.
- Share statementsPersonal or business bank statements, for the period the lender asks for.
- Income reviewThe lender reviews your deposits to work out qualifying income.
- The usual checksCredit, assets and the home still matter, like any loan.
- CloseSign, fund and get your keys.
Requirements vary by lender and program. Not all borrowers will qualify.
Two ways to show your income
Tax-return loan
- Uses income on your filed tax returns
- Write-offs lower the income a lender can count
- Often the lowest-cost option when it works
Bank statement loan
- Uses deposits in your bank statements
- Can reflect what your business actually brings in
- A non-QM loan: costs and down payment are often higher than a conventional loan
I'll show you both, side by side, so you can choose with real numbers in front of you.
I've been on your side of the desk
I'm self-employed too. When I bought my home, I used a bank statement loan, and I learned how much a good loan officer matters.
My loan officer missed our closing date by 10 days. That's why I keep you and your agent updated at every step and tell you early if something could slow things down.
What to have handy
- Recent personal or business bank statements
- Proof your business exists, like a license or a letter from your tax preparer
- Photo ID
- Asset and retirement statements
- Your tax returns too, so we can compare options
Your exact list depends on the lender and program. I'll tell you what applies to you.
Start securely
Your application opens in my secure borrower portal. Never send your Social Security number or account numbers by email or text.
Start my applicationApplying lets us review your credit. Preapproval is not a commitment to lend. All loans are subject to credit approval.
Self-employed questions, answered plainly
Do I need two years of tax returns?
Not always. Some loan programs use bank statements instead of tax returns to look at income. Others still need returns. It depends on the program and the lender.
Is a bank statement loan more expensive?
Often, yes. These are non-QM loans, and they usually cost more than conventional loans. That's why I compare them side by side with other options first.
Can I use business or personal statements?
Many programs accept either one, with different rules for each. I'll help you figure out which gives the clearest picture of your income.
Should I stop taking write-offs?
That's a question for your tax preparer. I can show you how your current returns look to a lender, so you and your CPA can plan.
Let's look at your numbers together
No pressure and no obligation. Call (949) 306-1424 or email mark@nxtmortgage.com.