Self-employed and business-owner scenarios
Bank statement
Certain lenders offer alternative income documentation programs that review personal or business bank statements to assess qualifying income.
Documentation to discuss
Statements are analyzed under the lender’s rules. Deposits, business expenses, account ownership and the history of the business may all need review.
What needs individual review
Account deposits are not automatically qualifying income. Documentation periods, reserve requirements and program terms vary by lender. This is often a Non-QM scenario; conventional financing may still be worth comparing.
Discuss this with ElaineEducational information only. Licensing, credit approval, property requirements and lender guidelines apply. This is not a rate quote or commitment to lend. Mortgage services are provided through Heart Mortgage Corporation, NMLS #2045769.