12 Month Bank Statement Loan. One Year Of Deposits Is Enough.
Qualify on twelve months of bank statements rather than tax returns, using the deposits your business actually receives.*
A shorter window, for a reason.
Twelve months is the window to use when two full years of statements either do not exist yet or do not represent the business as it trades now.
- Twelve months of business or personal bank statements*
- Deposits averaged across the window with an expense factor applied*
- No tax returns used to calculate qualifying income
- Non-borrowing joint account holder affidavit required where applicable*
- Twenty four month averaging available as an alternative*
- Wage income can be combined with alternative documentation for separate borrowers*
Qualifying uses twelve months of deposits*
Business or personal bank statements are both acceptable*
Deposits are averaged across the window and an expense factor is applied*
No tax returns and no W-2s are used to calculate the income
A joint account with a non-borrower requires an affidavit so only your deposits count*
Twenty four month averaging is available where the longer window helps*
What is the Saxton 12 Month Bank Statement Loan?
Income calculated from a year of deposits rather than from tax returns
This qualifies you on the money that actually arrived in your account over the last twelve months. The lender averages eligible deposits across the window and applies an expense factor to arrive at a qualifying income.
Two things decide this one: whether your deposits support the payment once an expense factor is applied, and whether twelve months or twenty four produces the better figure for your business. A licensed loan officer can run both before you choose.
The reason to choose twelve over twenty four is timing. If two full years of statements do not exist yet, the shorter window is the one available. And where the most recent year is materially stronger than the one before it, averaging across twenty four months lowers the qualifying figure.*
Why choose the Saxton 12 Month Bank Statement Loan?
Built for owners whose deposits tell the story better than their tax returns do.
Not Two Years Yet
If the business has not been trading long enough to produce two years of statements, twelve months is simply the window that exists.
A Better Recent Year
If last year was materially stronger than the one before, a twenty four month average drags the figure down for no good reason.
Write-Offs Do Not Punish You
Deductions that lower your taxable income do not lower the deposits, and it is the deposits this loan reads.
Business Or Personal
Either account type can be used. Which one produces the better result depends on how you move money between them.*
Joint Accounts Need Care
If a non-borrower shares the account, an affidavit is required so their deposits are not counted as your income.*
The Longer Window Exists
Where two years genuinely helps, twenty four month averaging is available on the same family of programs.*
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about qualifying on twelve months of deposits.
Two reasons. If your business has not produced two full years of statements yet, twelve months is the only window available. And where your most recent year is materially stronger than the one before it, averaging across twenty four months lowers your qualifying income.*
Either is acceptable. Which produces the better result depends on how money moves between your accounts, and a licensed loan officer can look at both before you commit to one.*
Not every dollar that lands in a business account is income, because the business has costs. An expense factor reduces the average deposit figure to approximate what is genuinely yours.*
Not to calculate the income. A form authorising transcripts is still part of the file, but the qualifying figure comes from deposits rather than from returns.*
If a non-borrower is on the account, an affidavit is required confirming their deposits are not being counted as your income. It is a routine document, not an obstacle.*
Yes. Combined documentation types are intended for separate borrowers on the same loan, so one of you can document wages while the other documents deposits.*
Twelve consecutive months, all pages of each statement. Partial statements and screenshots hold files up more than anything else in this process.
Find out what you qualify for
If your tax returns understate what your business actually earns, there is likely a Saxton 12 Month Bank Statement Loan that fits. Get a fast, no obligation pre-qualification today.
Get Pre-Qualified*Loan amounts, rates, terms, and down payment requirements are subject to credit approval, income and asset verification, and program eligibility. Bank statement qualifying uses averaged eligible deposits with an expense factor applied, and requirements vary by program, account type and documentation. Not all deposits are eligible. Requirements vary by occupancy, credit profile and documentation type. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.