Bank Statement Loans offer a flexible home financing option for self-employed individuals, focusing on bank deposits instead of traditional income documentation.
Bank Statement Loans are a game-changer for self-employed individuals, small business owners, and freelancers who often face challenges qualifying for traditional mortgages. These loans evaluate your income based on deposits reflected in your personal or business bank statements, bypassing the need for tax returns or W-2s. If you’ve struggled to prove your income despite having the cash flow to support a mortgage, Bank Statement Loans provide a solution tailored to your unique financial situation.
With Bank Statement Loans, you can enjoy the flexibility of qualifying based on your actual cash flow. Lenders typically review 12-24 months of bank statements to determine eligibility, giving you credit for all your income sources. This loan type offers competitive rates and terms, and you can use it to purchase, refinance, or invest in property. Whether you’re a gig worker, entrepreneur, or seasonal employee, Bank Statement Loans make it easier to secure the financing you need without traditional income restrictions.
At Cascade Home Loans, we understand the unique challenges faced by self-employed borrowers. Our team specializes in Bank Statement Loans, guiding you through the process with ease and expertise. From assessing your eligibility to customizing loan terms, we work closely with you to ensure your financing aligns with your goals. Let us help you achieve your dream of homeownership with a loan designed to meet your needs.
Apply for your loan without worrying about upfront application costs, so you can focus on finding the right home and financing solution.
Self-employed individuals, small business owners, freelancers, and gig workers with steady bank deposits can qualify.
Lenders typically require 12-24 months of personal or business bank statements, proof of assets, and a solid credit profile.
No, Bank Statement Loans eliminate the need for traditional income documentation like tax returns or W-2s.
Lenders calculate income based on average monthly deposits in your bank statements, minus applicable business expenses.
Interest rates may be slightly higher than traditional loans, but the flexibility and tailored approach make them a great option for many borrowers.
Yes, Bank Statement Loans can be used for purchasing or refinancing investment properties.
Don’t just take our word for it
Matt is a pleasure to work with. He helped me through every part of the home buying process answering any and all of my questions along the way. He is hard working, timely, and easy to understand. I would recommend him!
Andrew was a dream to work with. I had a complicated situation and he was there to help me throughout the whole process. He was extremely helpful with all of the difficult situations that came his way. I would not hesitate to recommend him to anyone.
We closed on the house in less than 28 days and this was the first time we ever applied for a loan( FHA). Working with Andrew was literally a breeze. He was very responsive and connected us with anyone we may need during the entire loan process. He was honest, thoughtful, and helpful each step of the way and made the entire process so smooth. Can’t recommend him enough!
Trying to buy a house in a red-hot market is a challenge; having Andrew on the finance side made everything so much easier. We made offers on several properties and every time Andrew was able to provide an approval letter immediately. When we finally had an offer accepted, he made the process clear and simple, and most importantly FAST. We would definitely recommend Andrew to anyone looking for financing.
Andrew stayed on top of everything and made the process very easy, under 2 weeks from submission to clear to close. I would absolutely recommend him to anyone in the future.
From the first contact “let me pull over I am driving and I will have a quote for you”: which only took about 25 mins max to today, the day of closing it has been little more than 31/2 weeks and it is all because of Andrew’s undivided attention, availability and determination. A pleasure to work with highly recommended!
It was a pleasure working with Andrew in both shopping for a mortgage and then completing the mortgage application and closing process. He was professional and very easy to work with…open to talk at any time and answer any questions…right up to the closing. He was even present at the closing to again field any questions and ensure the closing went as expected. I highly recommend Andrew to anyone looking for financing solutions.
My wife and I had a difficult situation between buying and selling homes with different agents and being long distance. I found Andrew multiple times going above and beyond what he should be doing. Recognizing that buying/selling house waits for no one makes it difficult when you are at work, Andrew would ALWAYS pick up the slack on our end as well as give me much needed reminders. In addition, I found it refreshing to get honest answers from Andrew, rather than hearing what you “want” to hear. All in all, Andrew is great at his job and a really great person, that always has your interest in mind, and will do the right thing. He makes one of the more stressful life events, a little bit less stressful.
Andrew was very responsive and went out of his way to make sure we always had all of our questions answered. He worked with us to make sure that we could afford our home and get into it quickly, before we even found one to put an offer in. Even after closing, he continued to answer our questions and give us advice.
Most people find that mortgage financing is complicated and confusing. We help you buy your dream home by simplifying the mortgage financing process with personalized loan options that save you time and money.
