Bank Statement Loans Made Simple

A Bank Statement Loan is a flexible mortgage option for self-employed borrowers who don’t have traditional W-2 income or prefer not to use tax returns. Instead of analyzing your tax filings, we review your personal or business bank statements (typically over 12 or 24 months) to determine your average monthly income.

This loan type is ideal for:

• Business owners
• Freelancers
• Independent contractors
• 1099 earners
• Basically, anyone who has consistent deposits but doesn’t fit the “vanilla borrower” mold.

Are You a Good Fit?

• Must be self-employed for at least 2 years
• Provide 12–24 months of personal or business bank statements
• Minimum credit score around 620–660, depending on program
• Reasonable down payment (typically 10–20%)
• Loans available for primary residences, second homes, or investment properties

Why Choose a Bank Statement Mortgage?

• No tax returns or W-2s required
• Credit flexibility for borrowers with non-traditional income
• Higher approval odds for entrepreneurs and gig workers
• Can be used for purchase or refinance
• Available for residential and investment properties

How Do Bank Statement Loans Work?

Instead of the traditional method of using your adjusted gross income (which often looks lower on paper due to deductions), this program uses your gross deposits to qualify you.

You’ll submit 12 or 24 months of:

• Personal or business bank statements
• A profit and loss (P&L) statement may also be required in some cases
• A letter from a CPA confirming self-employment (if using business accounts)

We calculate an average monthly income based on your actual cash flow—not what’s left after your accountant works their magic.

Who Uses Bank Statement Loans?

• Small business owners looking to buy a home without jumping through W-2 hoops
• Realtors, hairstylists, contractors, and consultants
• Freelancers with strong income but heavy tax deductions
• Self-employed borrowers denied by traditional banks

Let’s Make It Happen

If you’ve been told “no” by a traditional lender, that doesn’t mean the door is closed. At Stress Less Mortgage, we specialize in flexible options like bank statement loans to help you get the financing you need—without the stress.