Refinance on what you deposit, not what you declare.

Self-employed homeowners can refinance or take cash out using 12 or 24 months of bank statements as income. Useful when the tax returns are too lean for a conventional refinance, or when the business has grown faster than the last return shows.

Income12 or 24 months of statements

Cash-outUp to 75% to 80% of value

Minimum credit660

Tax returnsNot required

See if I qualify Call (856) 606-1070

4.4 on Google · 214 reviewsNMLS 13988Licensed in 15 states + DC

Income12 or 24 months of statements

Who it's for

Is the Bank statement refinance right for you?

Self-employed owners turned down for a conventional refinance
Business owners who want cash out to fund the business
Homeowners whose income grew after the last tax return
Owners of investment property held personally

How it works

Three steps from here to closing.

Deposit review

We total qualifying deposits and apply an expense factor.

Application and appraisal

Appraisal and credit as usual; no tax returns.

Close

Two to four weeks.

What you'll need

Requirements at a glance.

Two years of self-employment
12 or 24 months of bank statements
Credit score of 660 or higher
Loan-to-value up to 80% rate-and-term, 75% to 80% cash-out
Reserves of 3 to 6 months of payments

Straight talk

The upside, and what to weigh.

Why people choose it

No tax returns or profit-and-loss statements
Cash-out can fund a business without a business loan
Works on primary, second and investment homes

Things to consider

Higher rates than full-doc loans
Prepayment penalties can apply on investment properties

Common questions

Asked on almost every first call.

How much cash can I take?

Typically up to 75% to 80% of value, depending on credit and property type.

Do I need a CPA letter?

Sometimes, to confirm the business expense ratio. Many programs use a fixed factor instead.

Can I refinance into a conventional loan later?

Yes, once tax returns support the income.