Traditional mortgages don’t always reflect how you earn your income. With a Bank Statement Loan from Richmond-mortgage, you qualify using your actual bank statements instead of tax returns, W-2s, or pay stubs. Ideal for self-employed professionals, freelancers, and business owners, this option gives you a real chance to own property even when your traditional documentation doesn’t tell the full story.
Alternative Income Proof — Use 12 to 24 months of personal/business bank statements to verify your ability to pay.
Ideal for Self-Employed & Freelancers — Perfect when your taxes or deductions don’t reflect your true earnings.
Flexible Loan Use — Purchase, refinance, investment properties or second homes – many programs allow it.
More Inclusive Qualification — Higher debt ratios, flexible credit overlays, and stronger loan options for complex profiles.
Self-employed professionals or business owners whose tax returns understate income
Freelancers, consultants, gig workers, or 1099 earners
Real estate investors or property owners who can leverage rental or business income
Borrowers looking for flexible underwriting outside conventional channels
Ans: No in many cases, you can skip tax returns and provide bank statements instead.
Ans: Often 620 or higher, though better rates require stronger scores.
Ans: Usually 12–24 months from personal and/or business accounts.
Ans: Generally yes expect 10–20% or more, depending on credit and deposit history.
Ans: Yes, rates tend to be higher to reflect the added risk.
Ans: Often yes once your income grows or stabilizes, refinancing to a conventional loan may be possible.
