Why Choose Duane Buziak?
At Duane Buziak Mortgage Broker, we specialize in helping self-employed individuals qualify for home loans with flexible, realistic documentation options that reflect your actual income—not just what's on paper.
What Is a Bank Statement Loan?
A Bank Statement Loans is a type of non-QM (non-qualified mortgage) loan designed specifically for self-employed borrowers who may not have traditional proof of income like W-2s or pay stubs. Instead, lenders review your personal or business bank statements over the past 12 to 24 months to calculate your average income.
Rather than using your tax returns—where income may appear lower due to deductions—bank statement loans allow you to demonstrate your real cash flow through deposits. This opens doors for qualified buyers who might otherwise be overlooked by conventional mortgage programs.
Who Can Benefit from Bank Statement Loans?
Bank statement loans are ideal for:
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Entrepreneurs and small business owners
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Independent contractors and consultants
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Real estate agents and brokers
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Freelancers and digital marketers
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Rideshare and delivery drivers
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Gig economy professionals
These borrowers often face unnecessary obstacles with traditional lenders, despite having solid, consistent income. A bank statement loan gives them the opportunity to qualify for a mortgage using documentation that accurately reflects how they earn and manage money.
How Do Bank Statement Loans Work?
Instead of analyzing your tax return or W-2s, the lender reviews:
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12 to 24 months of bank statements (business or personal)
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Average monthly deposits to determine income
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Proof of self-employment (business license, CPA letter, or incorporation documents)
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Credit score (typically 620+ required)
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Down payment (usually between 10%–20%)
You may also be asked for a profit and loss statement prepared by a CPA or signed by you, depending on the lender's requirements.
Key Advantages of Bank Statement Loans
1. No Tax Returns Needed
Forget about worrying whether your tax deductions are “too high.” With bank statement loans, tax returns are not required. This is ideal for those who write off expenses to reduce taxable income legally.
2. Qualify Based on Actual Income
These loans allow lenders to evaluate your income based on average monthly deposits. It’s a more accurate reflection of your financial picture and can help you qualify for larger loan amounts.
3. Flexibility for Business Owners
You can use either business or personal bank statements—or a combination of both depending on how you manage your finances.
4. Purchase, Refinance, or Cash-Out Options
Whether you’re buying your first home, refinancing, or pulling equity from your existing property, bank statement loans offer options for a variety of needs.
Why Bank Statement Loans Are Growing in Popularity
With over 16 million Americans now self-employed, more and more borrowers are seeking mortgage products that match their financial lives. Traditional lending standards haven’t evolved fast enough to accommodate this shift—but bank statement loans have.
These loans are becoming increasingly popular because they:
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Provide easier qualification for those with non-traditional income
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Speed up the approval process with simplified documentation
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Offer competitive interest rates and flexible underwriting
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Help business owners take advantage of home equity opportunities
Working with a mortgage professional who understands these loans is key to ensuring success.
Why Choose Duane Buziak?
At Duane Buziak Mortgage Broker, we specialize in bank statement loans and work closely with self-employed borrowers across the country. Duane takes the time to understand your income structure, guide you through the documentation process, and match you with the best lender for your situation.
More than just a rate shopper, Duane focuses on your complete financial picture. He knows how to help you save—not just on the loan, but throughout the entire homebuying process.
▶️https://www.youtube.com/watch?v=K9f2ePK0FwU
In this helpful video, Duane breaks down how bank statement loans work, who they’re for, and why they might be your best option in today’s market.
Duane is not just going to shop your rate, he has Realtors that give you back rebates, he has the lowest cost Title companies with no settlement fee and the most cost effective insurance connections. Saving the typical client thousands more!! It's not just about the rate, it's about the whole package Duane always looks out for your bottom line — the whole deal!!
