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12-Month Bank Statement
Twelve months of personal or business deposits.
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Self-employed. The tax return is not the whole story.
If the return is written down on purpose, a W-2 underwrite will qualify you on the write-down. Bank-statement, 1099, and P&L programs read deposits or the profit-and-loss instead. They are still fully underwritten loans.
Owner-occupied self-employed is this door. A rental that qualifies on rent alone is the investor door, not this one.
This is not a no-doc loan and not a business-purpose loan. A rental goes to the investor door.
Programs that match this borrower
Vismar Corporation dba Elite Fundings, NMLS #2046870. A program link explains the loan. It is not a rate quote and not a pre-approval.
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24-Month Bank Statement
Twenty-four months when the longer history is the cleaner file.
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1099-Only Income
For 1099 income when the return is the wrong document.
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P&L Only
A prepared profit-and-loss. Not a stated-income loan.
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WVOE Only (W-2 Employee)
Written verification of employment when that is the document the overlay wants.
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Reviewed on the file
Asset Qualifier / Asset Depletion
When assets, not monthly income, are the qualifying story.
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Questions from this borrower
Do I still need tax returns?
On some files, deposits lead. On others, the return still comes in. We say which stack before you scan three years of 1040s.
Is a bank-statement loan a no-doc loan?
No. The statements are the income document. The rest of the file is still underwritten.
Is this a business-purpose loan?
Not by default. A house you live in is usually a non-QM mortgage. Business-purpose lending is a different conversation, and not one this site offers.