Bank Statement Loans
Freelancers, contractors, and gig-economy earners.
- NMLS #412470
- Equal Housing Lender
- STELLAR rated on Experience.com
- Serving borrowers nationwide
No W-2, no problem. We calculate your income straight from 12 to 24 months of deposits, so irregular pay and 1099 work translate into a mortgage you actually qualify for.
What makes it work
Go deeper — guides from Pat
Bank Statement Loans, explained properly.
Your deposits are the documentation
A bank statement loan replaces the entire tax-return apparatus with the simplest evidence there is: money arriving in your account. The lender reviews 12 to 24 months of statements, totals the qualifying deposits, and averages them into a monthly income figure. That’s the whole trick — and it’s transformative for anyone whose tax return is engineered to be small. Freelancers, contractors, gig workers, cash-heavy businesses: the income was always real. This is the program that finally reads it that way.
Personal vs. business statements — and the expense factor
Personal account deposits typically count close to fully. Business accounts get an expense factor — a percentage held back to reflect operating costs, usually somewhere between 20% and 50% depending on your industry. A consultant with no overhead argues for a low factor; a restaurant argues for a higher one, sometimes documented with a CPA letter. This is exactly where a specialist earns their keep: choosing the right account mix and the right factor can swing your qualifying income by six figures. I run every viable combination before we submit anything.
Preparing your statements to qualify strong
Three habits make a bank-statement file sing. First, consistency: steady monthly flow reads better than one enormous quarter, so time your application after a normal stretch. Second, separation: route business income through one account rather than scattering it — clean statements are believable statements. Third, explainability: large one-off transfers will be excluded unless documented, so know what each big deposit was. Do those three things and the program does the rest. NSF fees and overdrafts aren’t fatal, but a tidy recent history helps the pricing.
Sound like you? Then this is your program.
The 1099 contractor
Multiple clients, invoices paid on their schedule, no W-2 in sight — averaged into one steady qualifying income.
The gig-economy earner
Rideshare, delivery, creator platforms, side businesses stacked together — deposits from every stream count.
The cash-flow business
Salon, restaurant, trades — strong deposits, lean taxable income. The statements carry the file.
The numbers, straight.
None
12–24 months
Counted near-fully
Expense factor ~20–50%
Often 10–20%
Multiple sources combine
1099, gig, cash-flow businesses
Ranges reflect typical scenarios and vary with the full file — they’re a starting point, not a quote or a commitment to lend. Pat will give you real numbers for your situation.
From first call to closing table.
Book a free call
Fifteen minutes with Pat. Your situation in plain English — no forms marathon, no obligation.
Get your real numbers
The program that fits, the terms you'd actually see, and a document list built for your file — not a generic checklist.
Close with confidence
Pat drives the file to the closing table and keeps you ahead of every deadline while you plan the move.
“What made my experience so stellar was Pat Villano. He is exceptional with prompt and clear communication. He works long hours to meet your needs. A rare find these days. Thank you, Pat!”
The questions everyone asks.
Yes. Deposits are deposits: multiple 1099 sources, platform payouts, and business revenue can all flow into the same averaged income figure, as long as each stream is documentable.
Not automatically. Underwriters look at the pattern, not the incident — a clean recent 6–12 months matters most. If your account history has a rough patch, we time the application around your strongest window.
By industry and evidence. Service businesses with low overhead can justify factors near 20–30%, and a CPA letter documenting your actual expense ratio can lower it further. It’s one of the most negotiable — and most valuable — numbers in the file.
We total 12–24 months of deposits, apply a sensible expense factor if it’s a business account, and average it into monthly qualifying income. No tax returns, no W-2s — the deposits tell the story.
Either works. Personal statements typically count deposits more fully, while business statements use an expense factor based on your industry. I’ll run both and use whichever qualifies you stronger.
No. Averaging over 12–24 months is the whole point: it smooths out the swings that make gig and 1099 income look risky to a conventional lender. Consistency over the year matters, not week to week.
Have a different question? Read the full FAQ or call Pat directly.
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