Self-Employed

Bank Statement Loans

Self-Employed? We Have Your Solution.

Reviewed by Tathiana Moreno, NMLS #1684574 · Last updated September 2026

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Minimum Credit Score
620+
Minimum Down Payment
10% (typical)
Ideal For
Self-employed, business owners, freelancers

What is a bank statement loan?

Traditional mortgages rely on W2s and tax returns, but if you're self-employed, your tax returns often show lower income than you actually earn. Bank statement loans let you qualify using 12–24 months of business or personal bank statements instead.

Lenders calculating your qualifying income from bank statements will average your monthly deposits over the chosen 12- or 24-month window, then apply an expense ratio if you're using business account statements, since not every dollar deposited is profit. The result is often a more accurate reflection of what a self-employed borrower can actually afford than a tax return alone, which is filled with deductions designed to minimize taxable income, not to demonstrate borrowing power.

Who It's For

Bank statement loans are perfect for self-employed borrowers, business owners, freelancers, consultants, and gig economy workers who have strong cash flow but complex tax situations. Real estate agents, contractors, rideshare and delivery drivers, and small business owners are among the most common bank statement loan borrowers Dream Team Mortgage works with across Florida, since all of these professions tend to show strong deposits but modest taxable income.

Key Benefits

  • Qualify using bank statements, not tax returns
  • 12 or 24-month statement options
  • Personal or business bank statements accepted
  • Competitive rates for strong credit profiles
  • Loan amounts up to $3 million
  • Fixed and adjustable rate options

What You'll Need

  • 12–24 months of bank statements
  • Self-employed for at least 2 years
  • Minimum credit score of 620
  • Down payment of 10–20%+
  • CPA letter or business documentation
  • P&L statement may be required

Bank Statement Loans in Florida for 2026

Florida has one of the highest rates of self-employment and small-business ownership in the country, particularly in Southwest Florida's tourism, real estate, and service industries. Bank statement loans exist specifically because tax-return-based underwriting often understates what self-employed borrowers actually earn, once legitimate business deductions are factored in. These are non-QM (non-qualified mortgage) products, meaning they fall outside the standard Fannie Mae/Freddie Mac rulebook, which gives lenders more flexibility on documentation but typically comes with a modestly higher interest rate than a conventional loan. Because Southwest Florida's economy leans heavily on seasonal and tourism-driven income, many local business owners see uneven month-to-month deposits that a traditional tax-return average doesn't capture well; a 12-month bank statement option can sometimes tell a more accurate, more current story of your business's health than a 24-month average.

Frequently Asked Questions

Lenders typically average your monthly deposits over 12 or 24 months. For business accounts, they may apply an expense ratio to determine net income.

Generally yes. Most bank statement loan programs require at least 2 years of self-employment history.

Bank statement loans are available up to $3 million or more depending on the lender.

Both can be used! Business statements may require an expense factor to determine qualifying income. Tathiana will review your situation to determine the best approach.

Bank statement loans are non-QM products and typically carry slightly higher rates than conventional loans, but for self-employed borrowers, they're often the only viable path to homeownership.

Non-QM stands for non-qualified mortgage, meaning the loan doesn't meet the standard underwriting rules used by Fannie Mae and Freddie Mac. This gives lenders flexibility to qualify borrowers using alternative income documentation, like bank statements.

Typically yes, bank statement loans carry a somewhat higher rate to offset the additional underwriting flexibility. For many self-employed borrowers, it's the difference between qualifying and not qualifying at all.

Yes. Bank statement loans are available for primary residences, second homes, and investment properties, which makes them popular with self-employed real estate investors as well as homebuyers.

Averaging deposits over 12 or 24 months naturally smooths out seasonal swings common in Florida's tourism and service industries, so a strong high season can offset a slower stretch.

Typically no. The entire point of a bank statement loan is to qualify using deposit history instead of tax returns, though some lenders may still request a CPA letter confirming your ownership percentage and time in business.

Ready to Get Started?

Contact Tathiana today for a free, no-obligation consultation. She'll review your situation and tell you exactly what you qualify for.

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