Overview
Self-employed borrowers often get penalized by traditional underwriting that focuses on net business income. John works with bank-statement loans, P&L loans, asset-depletion loans, and conventional financing optimized for self-employed clients.
Benefits
- 12 or 24-month bank-statement programs
- P&L only documentation available
- Asset-depletion qualification
- Conventional financing optimized for write-offs
Eligibility
- Typically 2 years self-employment history
- Strong credit (program dependent)
- Documented business existence
Cincinnati scenario
A Mason business owner whose tax returns show low net income but whose bank statements show $35,000/month deposits. A 24-month bank-statement loan qualifies him for the home he wants.
Frequently Asked Questions
We average 12 or 24 months of business or personal bank statement deposits to calculate qualifying income, applying an expense factor based on the business type.