Mortgage and Real Estate Blog


Bank statement loans for Self Employed

There are benefits to being self employed. Writing off items, and reducing your tax liability can be one of them.  That is great...  until you try getting a home mortgage loan, and you don't show enough income to qualify, then you get denied because you don't meet the current ATR (ability-to-repay rule).

Typically, you are applying for a standard conforming loan with guidelines established by Fannie Mae and Freddie Mac. Tax write-offs and incentives that are legally allowed for self-employed can reduce income significantly 'on paper', which means you tax returns may not show your true income and financial picture. 

​​​​The Solution

Bank Statement loans allow you to qualify based on personal or business bank statement deposits, and do NOT require tax returns.

We review, analyze and calculate income from your deposits with either the last 12 or 24 months of bank statements.

Known as Non-QM loans, these loan products to not require you to meet standard ability to Repay guidelines, which halps many self-employed get a home loan.

There is one negative. That being that these loans do come at a higher interest rate than traditional loans. Therefore we always like to make sure you don't qualify traditionally before offering a bank statement option.

NOT your Old No Doc or Stated Income Loan

Regulator believe that the old stated income, or no doc loans were a major contributor to the housing crash. One can argue the merits either way, but regardless, those loans no longer exist if you want to buy a primary residence, so don't ask. 

Bank statement programs work great for many, but as with all programs, not everyone will qualify. But let's start the conversation, and see if we can get you qualified today.

We lend for Non-QM loans for properties in Minnesota, Wisconsin, Iowa, North Dakota, and South Dakota only, and just on 1-4 unit residential properties

Experience the Cambria Mortgage difference by calling (651) 552-3681, or visiting

Cambria Mortgage, Joe Metzler


YES, the counter top people! Equal Housing Lender. NMLS 274132, 322798. Cambria Mortgage lends in the following states: MN, WI, SD, ND, IA, FL, TX, CO, This is not an offer to lend or to extend credit, nor is this a guaranty of loan approval or commitment to lend. The information here may not be up-to-date and may no longer be accurate. Products and interest rates are subject to change at any time due to changing market conditions. Actual rates available to you may vary based upon a number of factors. Consumers must independently verify the accuracy and currency of available mortgage programs. All loan approvals are subject to the borrower(s) satisfying all underwriting guidelines and loan approval conditions and providing an acceptable property, appraisal and title report. (C) 2020 Joe Metzler


Comment balloon 0 commentsJoseph Metzler • October 29 2020 06:48PM


This blog does not allow anonymous comments