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Bank statement & non-QM loans
Self-employed borrowers often write off income that lenders would otherwise count. Bank statement and other non-QM loans qualify you on your actual deposits or assets.
A good fit for
- Business owners and 1099 contractors
- Borrowers with large write-offs
- Recent credit events that are past the waiting period
- High-asset borrowers with irregular income
Good to know
- 12 or 24 months of personal or business bank statements
- Pricing is higher than conventional loans
- Larger down payments are typical
- Asset depletion and P&L-only options also exist
What non-QM means
Qualified Mortgage (QM) rules define standard documentation. Non-QM loans are fully legitimate loans that use alternative documentation, such as bank statements, a CPA-prepared profit and loss statement, or liquid assets, to verify ability to repay.
Who these loans help
If your tax returns show far less than you actually earn, a conventional lender may decline you. A bank statement program averages your deposits over 12 or 24 months and applies an expense factor instead.
Plan for the refinance
Many borrowers use non-QM to buy now, then refinance into a conventional loan once two years of tax returns support it. We will map that plan with you up front.
Rates and terms change daily. Contact us for current pricing based on your credit, property, and down payment.
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