Bank Statement Loans

Our Alternative Documentation Mortgage Loan Program is specially designed for self-employed individuals. Qualify easily using your last 12 months of bank statements, without needing tax returns or 1099s. The Bank Statement Loan makes the process simpler and more accessible for business owners and independent contractors.

We Don’t Need Your Tax Returns or 1099s

Mortgage loans often pose a challenge for self-employed borrowers, especially when it involves the complex process of submitting tax returns to mortgage underwriters for traditional Fannie Mae or Freddie Mac Underwriting.

To simplify this, we use just 12 months of your business or personal bank statements for qualifying you for a new home purchase or refinance. Here’s why self-employed borrowers find bank statements an effective way to qualify:

Recent Success: Your last 12 months may have been exceptionally profitable, which isn’t yet captured in your latest tax returns.
Unprepared Tax Returns: You might not have prepared your tax returns in the past for various reasons.
True Income Representation: Your tax returns may not fully showcase your real income due to specific expenses.

Criteria to Qualify

Loan amounts & credit scores
No minimum loan amount; requires a credit score of 660 or higher for loans up to $3 million.
Property types
Eligible properties include single family homes, condos, townhomes, and 1-4 unit properties.
Property use
Suitable for primary residence, second homes, and investment properties.
Strong bank statement income
We use either your last 12 months of business or personal bank statements to establish income, applying it to our proprietary formula to ensure affordability of the home loan.
Good reserves
Depending on the program and credit score, you will need 6 to 12 months of reserves, calculated as the total of principal, interest, taxes, insurance, and homeowners association dues (if applicable) divided by 6 or 12 respectively.
Down payment
The requirement varies based on property type and credit score, ranging from 10% to 20% for new home purchases or refinances.

We've worked with thousands of happy customers.

Keith and his team were excellent to work with, and truly went above and beyond to ensure I was getting the best rate on my mortgage. In the age of digitization, it was certainly tempting to just use an online marketplace to price shop rates and find the best lender, however Lewis Financial was able to use their deep knowledge and market experience to help me beat any rate that was presented to me online (and was actually way more efficient than any online marketplace I looked into). I would highly recommend Lewis Financial to anyone looking to purchase or refinance their home!

We have worked with Keith for over 20 years. His knowledge of the various loan products, interest rates and terms, lenders, and the local real estate market is excellent. Keith has always been directly involved in the loan process and has provided sound advice in helping to evaluate the best loan features and rates to meet our needs. Keith has always gone above and beyond in representing our best interests with lenders and we highly recommend him.

I 100% recommend Lewis Financial Mortgage. Keith and Angela were nothing but a Godsend in the process of my home financing. First off, he locked in a great rate but kept his eye on the rates and when they dropped, so did mine - he seemed to always have my best interest in mind. It was a rather long and at times quite arduous process (at no fault of his) but he was always forefront with his professional assistance. Great communication! Keith knows what he is doing and is a top-notch mortgage professional.

I recently completed mortgage financing through Lewis Financial, and I highly recommend their services. After one conversation, Keith hunted down the best loan program based on my situation and his industry knowledge, and locked in a great rate immediately. The extremely quick turnaround and responses provided by Keith and Angela made the process seamless. Having Keith personally follow up on questions I had about the home purchase, whether they were strictly related to the loan or not, shows his concern that clients are taken care of. Being out of state, having personal service on the ground in Michigan was invaluable. I certainly will recommend Lewis Financial going forward.

I cannot say enough great things about Lewis Financial. Keith and Angela have now helped us secure two mortgages and complete several refinances, always at exceptional rates. Each time they have gone above and beyond to make sure we understood every step of the process and that our interests were first and foremost. They have always been prompt and patient when responding to our questions, and have been proactive about keeping us informed of opportunities to lower our current rate. Keith and Angela make the mortgage process simple and are truly a pleasure to work with. I highly recommend Lewis Financial to anyone needing or refinancing a mortgage.

Documents Required for Qualification

Bank Statement Utilization

We consider either your business or personal bank statements from the last 12 months.

Business Tenure Documentation

Please provide partnership agreements or Articles of Incorporation to demonstrate a minimum of two years in business.

Ownership Verification

We require evidence of at least 25% ownership in your business entity, typically verified through a letter from your tax-preparer, especially since tax returns are not used.

Credit History Essentials

A minimum of three credit tradelines with at least 24 months of history is necessary for a bank statement loan qualification.

Comprehensive Credit Review

Your overall credit history, including any past bankruptcies, foreclosures, or liens, is considered, but these factors don't necessarily preclude you from obtaining a Bank Statement Loan.

Bank Statement Second Mortgages

Are you in need of extra cash but wish to retain your favorable 2 or 3% first mortgage? If you’re self-employed and find it challenging to qualify based on your tax returns, we have a solution for you. We offer a new fixed-rate second mortgage, qualifying you through the past 12 months of your personal or business bank statements.

This opportunity provides the financial flexibility you need, whether for home improvements, repairs, consolidating high-interest credit card debts, or other personal expenses. It’s an excellent way to tap into your home equity, without disturbing your existing low-rate mortgage. Discover how our second mortgage options can meet your needs.

Bank Statement Cash-out Refinances

Cash is king. We can use your bank statements for a cash out refinance for whatever your needs may be—whether it’s funds for repairs, remodeling, sending your kid to college, or simply tapping your home’s equity.

Meet Keith Lewis.

I have been an entrepreneur in the mortgage biz since 1993 — I sold my first mortgage company along with its 73 employees in 1998 to a Virginia based Bank. I have closed more than 2.5 Billion in mortgage loans, so I understand every aspect of this industry. I will personally guide you through every step of the transaction, morning, noon, night and weekends.

Along with the mortgage biz, I am a seasoned real estate investor and have and currently own apartment buildings, rental homes and condos. I have a passion for real estate that is unwavering and look forward to imparting that knowledge to every borrower I speak with.

Last, I will guide you through every step of probably one of the most complicated and confusing transaction of your life.

Purchasing a new primary residence, second home or investment property?

Get pre-qualified now for your home purchase today with our soft credit inquiries, ensuring no impact on your credit score or any marks on your credit history.

Bank Statement Loans

We Don’t Need Your Tax Returns or 1099s

Criteria to Qualify

We've worked with thousands of happy customers.