Non-QM & Alternative Doc
Alt-Doc — Self-Employed
12-Month Bank Statement
Qualify on 12 months of personal or business bank deposits instead of tax returns.
Available throughout Southern California through Francisco Williams, CCIM, NMLS #1858674.
660
Min FICO
90%
Max LTV
50%
Max DTI
bank statement
Docs
Ideal borrower
Self-employed borrowers with strong cash flow but aggressive tax write-downs.
Program highlights
- 12 months personal OR business statements
- No tax returns required
- Up to 90% LTV on primary residence
- Expense factor applied to business deposits (typically 50%)
Typical uses
- Self-employed purchase/refi where tax returns understate income
Frequently asked questions
- How does a bank statement mortgage work?
- Instead of tax returns and W-2s, the lender uses 12 or 24 months of your personal or business bank deposits to calculate qualifying income. Business bank statements typically have an expense factor (often 50%) applied to net out operating costs. This is ideal for self-employed borrowers whose tax returns understate real cash flow due to deductions.
- Do I need perfect credit for a bank statement loan?
- No — most programs accept scores from 660+ (some go lower). You'll trade higher FICO for lower down payment and better pricing. Expect rates 1.5–2% higher than conventional, reflecting the added risk lenders price in.
- Can I buy an investment property with a bank statement loan?
- Yes. Bank statement programs work for primary residences, second homes, and investment properties. For investment properties, many borrowers pair bank statement qualification with DSCR on subsequent purchases.
Program details shown are representative guidelines and subject to individual lender overlays and CFPB / agency requirements. Rates shown are illustrative and subject to change without notice. Actual rate, APR, and terms will depend on creditworthiness, loan-to-value, property type, occupancy, loan amount, loan program, and other factors. Not all applicants will qualify.