Unlock Your Homeownership Dreams with Flexible Financing

At Elite Mortgage LLC, we understand that traditional income documentation may not always reflect your true financial picture. That's why we offer the Bank Statement Loan Program, designed for self-employed borrowers and business owners who need a flexible way to qualify for a mortgage.

Why Choose a Bank Statement Loan?

Our Bank Statement Loan Program allows you to use personal or business bank statements instead of tax returns to prove your income. This is an ideal solution for entrepreneurs, freelancers, and independent professionals who have strong cash flow but fluctuating income due to business expenses or tax deductions.

Key Benefits

✔ No Tax Returns Required – Qualify with 12 or 24 months of bank statements.
✔ Higher Loan Amounts – Borrow up to competitive limits to finance your dream home.
✔ Flexible Credit Requirements – We consider more than just your credit score.
✔ Ideal for Self-Employed Borrowers – Designed for those with non-traditional income.
✔ Fast Approval Process – Get financing without the usual hassles of traditional mortgages.

How It Works

1. Submit 12 or 24 months of personal or business bank statements.
2. Our team reviews deposits to determine your qualifying income.
3. Get approved for financing tailored to your needs.
4. Move forward with purchasing or refinancing your property!

Who Qualifies?

This program is perfect for:
✅ Self-employed professionals
✅ Business owners
✅ Freelancers and independent contractors
✅ Real estate investors

Understanding Expense Factors

For business owners using business bank statements, lenders apply an expense factor to determine a borrower’s usable income. This accounts for business operating costs and ensures a realistic representation of funds available for mortgage payments.

Typical expense factors vary by industry (for example):
🔹 50% Expense Factor – Common for businesses with high overhead (restaurants, retail, manufacturing).
🔹 35% Expense Factor – Suitable for service-based businesses (consulting, freelancing, design).
🔹 20% Expense Factor – Low-overhead industries (digital marketing, professional services).

Example Scenario:

Consultant with 35% Expense Factor

• Monthly business bank deposits: $20,000
• Lender applies 35% expense factor (reducing qualifying income).
• Net qualifying income: $13,000/month
• Borrower qualifies based on this adjusted income figure rather than taxable income.

Get Started Today

Take the next step toward homeownership with our Bank Statement Loan Program. Contact us today to learn more or begin your application!