Bank Statement Loans in Kansas City
A mortgage option for self-employed borrowers that uses your bank deposits, not your tax returns, to show income.
Who it’s for
- Business owners whose tax returns show lower income after write-offs
- 1099 contractors, freelancers, and gig workers
- Self-employed borrowers who’ve been told their income doesn’t qualify
- Owners with strong cash flow but irregular income
What lenders typically look at
Statements
Lenders typically review 12 or 24 months of personal or business bank statements.
How income is figured
Lenders average your qualifying deposits, often applying an expense factor for business accounts. A CPA letter or profit and loss statement can change that factor.
Time in business
Typically at least two years self-employed, though some programs accept less.
Down payment
Typically 10% to 20%, depending on credit and the property.
Credit
Typically 660 or higher. Higher scores generally get better terms.
Typical ranges are shown for general information only. Requirements, rates, and availability vary by lender, program, property, and borrower, and are subject to change. This is not a commitment to lend.
How it works with me
Talk it through
Call or text me, meet in person, or connect online. I learn your goals and look at your whole situation.
Get your numbers
I shop your loan across my network of 250+ lenders, compare your options, and explain the costs in plain language.
Close with confidence
I keep you updated, answer your questions, and stay with you through closing day.
Common questions
Why not just use my tax returns?
Tax write-offs lower your taxable income, and with a standard loan lenders can only count what’s on your returns. A bank statement loan looks at the money actually moving through your accounts.
Can I use business or personal statements?
Either one can work, depending on the program. Some programs allow a mix of both. I’ll help you figure out which gives you the best result.
Are the rates higher?
Usually, yes. Bank statement loans are non-QM loans, so rates are typically higher than conventional. For many self-employed borrowers the flexibility is worth it, and some later refinance into a conventional loan.
Told no somewhere else? Call me.
I can’t promise a yes, but I’ll look at every option. Call or text, or meet in person.