Do I need to provide tax returns?

No — that's the entire point of the program.

Personal or business statements?

Either works; we'll recommend the path that produces the strongest qualifying income.

Residential

Bank Statement Loans

12 or 24 months — business or personal.

Self-employed borrowers can qualify on deposits — no tax returns. A variable expense factor results in more qualifying income than fixed-percentage programs, and you can choose 12 or 24 months of statements based on what tells your story best.

Highlights

12 or 24 month statements
Up to 90% LTV
Variable expense factor
Business or personal accounts
No tax returns required
Self-employed and 1099 borrowers

Apply for this program (817) 721-4030

What we do — and what we don't. Local Loan Store™ specializes in commercial, investor, and non-owner-occupied lending plus secured & unsecured business working capital. We do not originate personal loans or owner-occupied residential mortgages. If your scenario is personal or owner-occupied, we'll happily refer you to a trusted partner who is ready to help — just submit your inquiry and we'll route it to the right desk.

How funding works

1
Send 12 or 24 months of business or personal bank statements
2
We calculate qualifying income using a variable expense factor
3
Order appraisal and title in parallel — no tax returns required
4
Close in 21–30 days

Real borrower scenarios

Worked examples using the program's actual LTV and qualifying rules. Numbers are illustrative — your file determines your final terms.

Restaurant owner, 24-mo business statements

80% LTV

Self-employed, FICO 720, strong deposits

Financed Down payment

Property value: $700,000
Loan amount: $560,000
Down payment: $140,000
Cash to close (est.): $158,000

Variable expense factor produces ~$28k/mo qualifying income vs. tax-return-net of $9k/mo.

Max LTV by program

% of value financed at purchase — click a bar to open the program

Max loan amount

USD millions — click a bar to open the program

Indicative rate ranges

Lower band = best-case pricing. Hover for details, click to open the program.

Knowledge & insights

Tax returns understate self-employed income because of legitimate write-offs — bank-statement underwriting looks at gross deposits and applies a realistic expense factor instead.

A variable expense factor (vs. a flat 50%) is one of the biggest differentiators across bank-statement programs — it can swing qualifying income by tens of thousands per year.

Choosing 24 months over 12 typically lowers rate and raises LTV by giving the underwriter a more stable income picture.

Did you know?

The U.S. has more than 25 million self-employed workers — many of whom are effectively shut out of conventional mortgage qualification.
Some borrowers double their qualifying income simply by switching from tax-return underwriting to bank-statement underwriting.

Frequently asked questions

Quick answers about Bank Statement Loans. Not seeing your question? Talk to a loan officer below.

Do I need to provide tax returns?: No — that's the entire point of the program.
Personal or business statements?: Either works; we'll recommend the path that produces the strongest qualifying income.

Get matched to Bank Statement Loans

Submit your scenario — a loan officer will confirm program fit and indicative pricing within one business day.

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