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
- Minimum Credit Score: 680
- 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.
Last Updated on 4 days ago by Broker Mortgages