Bank Statement Mortgage Programs
Bank Statement Mortgages for Self-Employed Borrowers
Self-employed, 1099, or business owner? Your tax returns don’t tell the full story. Total Quality Lending’s Prime Time bank statement loans qualify you on 12 or 24 months of personal or business bank statements — no tax returns, no W-2s.
Bank statement loan advantages
- No tax returns, W-2s, or 4506-C required
- Qualify on 12 or 24 months of bank statements
- Loan amounts from $150K to $4M
- Credit scores from 620
- Up to 90% LTV on primary residence
- Primary, second home, and investment occupancies eligible
Choose your bank statement path
Total Quality Lending offers four bank statement variants — pick the one that matches how your income actually flows.
12-Month Bank Statement Loan
Shorter look-back — qualify on one year of statements. Ideal for newer self-employed borrowers with strong recent cash flow.
24-Month Bank Statement Loan
Two-year averaging produces a smoother qualifying income and often unlocks better pricing tiers than the 12-month path.
Business Bank Statement Mortgage
Use 12 or 24 months of business statements only. Three income-calc methods: fixed 50% expense ratio, CPA letter, or 3rd-party P&L.
Personal Bank Statement Mortgage
Use 12/24 months of personal statements plus 2 months of business statements. Built for sole proprietors and freelancers.
How bank statement loans work
A bank statement loan replaces tax returns with deposits. Underwriting averages eligible deposits across 12 or 24 months of statements to produce a qualifying monthly income. The result: business owners and self-employed borrowers who write off heavily on Schedule C can still qualify based on actual cash flow.
Total Quality Lending’s bank statement loans sit inside the Prime Time non-QM program. Loan amounts run from $150K to $4M, credit scores start at 620, and DTI runs up to 50% (55% on primary residence at ≤80% LTV with $3,500 residual income). 15-, 30-, and 40-year fixed terms are available, plus 5/6, 7/6, and 10/6 ARMs. Interest-only is allowed at 660+ FICO up to 90% LTV.
For the full underwriting matrix — FICO × loan-amount LTV tiers, reserves, housing-history, and credit-event seasoning — see our Prime Time loan program page.
Bank statement mortgages — FAQs
What is a bank statement loan?
A bank statement loan is a non-QM mortgage that qualifies self-employed borrowers using deposits from 12 or 24 months of personal or business bank statements instead of tax returns or W-2s. Total Quality Lending offers bank statement loans under our Prime Time program with up to 90% LTV.
Who qualifies for a bank statement mortgage?
Self-employed borrowers, 1099 contractors, business owners, sole proprietors, freelancers, and gig workers whose tax returns understate true cash flow due to write-offs. You need to show consistent deposits and at least 2 years of self-employment history.
Personal vs business bank statements — which do I use?
Personal bank statements are best when most of your business income lands in a personal account. You'll provide 12 or 24 months of personal statements plus 2 months of business statements showing activity and transfers. Business bank statements are best when income stays in a business account — you only provide business statements (12 or 24 months).
How much can I borrow?
Bank statement loans run from $150K to $4M under the Prime Time program. LTV ranges from 90% at the top FICO/loan tier down to 65–70% for the highest loan tiers. State overlays apply to CT, FL, IL, NJ, and NY.
What credit score do I need?
Minimum credit score is 620. Best terms unlock at 720+. Interest-only options are available for 660+ FICO up to 90% LTV.
Are bank statement loans only for investment properties?
No — bank statement mortgages work for primary residence, second home, and investment properties under Prime Time. Investment property bank statement loans are a separate product from DSCR loans (which qualify on rental income rather than borrower income).
How long does a bank statement loan take to close?
Total Quality Lending typically closes Prime Time bank statement loans in 21–30 days. Faster closes are possible when the borrower has statements ready and the appraisal is the only outstanding item.
Skip the tax returns. Use your statements.
Get a no-tax-return mortgage quote in minutes. Your bank statements are all we need to start.
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