Bank Statement loan or 1099 – Perfect Alternative for Self-employed Borrowers


Bank Statement loan is a loan option for eligible self-employed borrowers to purchase or refinance a home. This program allows personal or business bank statements to calculate income without requiring tax returns.

  • Two years of self-employment required
  • Loans from $150,000 to $3 million
  • 12 or 24 months personal bank statement
  • 12 or 24 months business bank statements: · Fixed Expense Ratio (50%) industry eligibility based upon the completion of the Business Narrative Form or · Expense ratio provided by a 3rd party (CPA, CTEC, or EA) min ratio of 10% or · 3rd party prepared P&L statement (CPA, CTEC, or EA)
  • 1099 income option available: · 2 years or 1-year 1099 · Fixed Expense Ratio of 10% · YTD Documentation to support continued receipt of income from same source
  • Available for purchase, cash-out or rate-term refinance
  • Primary, second home, or investment properties
  • Single family, townhomes, or condos
  • Reserves: · LTV <= 80%: 6-months PITIA · LTV > 80%: 12-months PITIA


Conventional Mortgage Loan

Bank Statement Loan

Flexible income



Loan amount

Up to 726,200

Up to 3,000,000*

Minimum FICO score required



Minimum down payment required

As low as 3%


Above information is subject to additional requirements.

*A loan up to $3,000,000 requires minimum 30% down payment and minimum FICO score of 680.

** FICO score of 600 requires min 30% down.

***10% Down payment requires min 700 credit score.