Non-QM loan for self-employed borrowers looking for a flexible home loan option without traditional income verification?
The 1-Month Bank Statement Mortgage Program is a Non-QM loan ideal for self-employed borrowers, entrepreneurs, and business owners who don’t receive regular W-2 income.
This loan program allows income to be stated rather than calculated, with no tax returns or pay stubs required.
Key Features of the 1-Month Bank Statement Mortgage
No NSF Activity: Bank account must end with a positive balance and no non-sufficient funds (NSF) events
Loan Types Available: Jumbo & Super Jumbo
Income Verification: Stated income based on one month of bank statements
Debt-to-Income (DTI): Up to 50% allowed
Cash Reserves: Not required
Tax Documents: No 4506-T or 4506-C form required
Credit-Based Approval: Heavily weighted on borrower’s credit history
What Is a 1-Month Bank Statement Mortgage?
This alternative documentation loan allows borrowers to qualify using only the most recent month’s business or personal bank statement. It’s ideal for self-employed individuals who prefer not to provide two years of tax returns or detailed financial statements.
One-Year VOE (Verification of Employment) is typically required instead of a two-year employment history, offering a faster and more streamlined process.
Income Documentation Requirements
This Non-QM mortgage program relies on minimal paperwork. Instead of standard income verification, lenders consider:
A single month’s business or personal bank statement
Strong credit profile
No tax transcripts or IRS forms required
No cash reserve requirement in most cases
Acceptable Employment Verification Documents
To qualify, you’ll need to verify at least one year of self-employment using one of the following:
Valid Business License
CPA Letter confirming self-employment
Enrolled Agent (EA) Letter
Articles of Incorporation or Articles Business Organization
Government Agency Certificate
Seller’s License
Contact us today to learn how a 1-Month Bank Statement Mortgage can help you qualify for your next home loan — without the hassle of traditional income documentation.
Available in the Following States:
Alabama, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Hampshire, New Jersey, New Mexico, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.