Yes. Bank statement loans, 1099 income programs, asset depletion loans, and profit-and-loss statement loans all allow you to qualify without traditional tax returns. These Non-QM products were specifically created for self-employed borrowers, business owners, and entrepreneurs whose taxable income does not reflect their true earning power. Interest rates are typically one to two percent higher than conventional loans, but they make homeownership accessible when traditional documentation falls short.

You provide 12 to 24 months of personal or business bank statements. The lender calculates your qualifying income based on average monthly deposits, typically using 50 to 100 percent of business account deposits or 100 percent of personal account deposits after analyzing the pattern. For example, if your business account shows average monthly deposits of 20,000 dollars, the lender might use 10,000 to 15,000 dollars as your qualifying monthly income depending on their expense factor.

Most bank statement loan programs require a minimum credit score of 620 to 660 and a down payment of 10 to 20 percent. Better credit scores and larger down payments unlock lower interest rates. Some lenders may accept scores as low as 580 with a 20 percent or larger down payment. Having 6 to 12 months of cash reserves after closing also strengthens your application significantly.

Bank statement loan rates are typically one to two percent higher than conventional mortgage rates. On a 400,000 dollar loan, this translates to approximately 250 to 500 dollars more per month compared to a conventional loan. Many self-employed borrowers find this premium worthwhile because it allows them to purchase now and build equity while continuing to take business deductions. You can also refinance into a conventional loan later if your tax situation changes.