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No Self-Employment Requirement
12-Month Bank Statement Loan
This is a flexible program that allows borrowers to qualify using personal bank statement deposits instead of tax returns, paystubs, or W-2s.
Benefits
- No self-employment requirement - W-2, 1099, gig, and self-employed borrowers are all eligible
- No tax returns or paystubs required
- Only 12 months of bank statements required for income verification
- 100% of eligible deposits count as income
Eligibility
- 12 months personal bank statements
- 3–6 months of reserves (depending on loan amount)
- Minimum 10% down payment
- Minimum 640 FICO
- Primary and investment properties allowed
- All Property Types allowed, including Non-Warrantable Condos
JVM’s 12-Month Bank Statement Loan is designed for borrowers whose true earning power is not reflected on tax returns, W-2s, or pay stubs, or whose buying power is limited by old-school underwriting guidelines. Instead of using traditional income documentation and guides, this program qualifies you based on the actual income you’re receiving through the deposits shown in your personal bank statements. It allows W-2, 1099, contractors, commissioned salespeople, self-employed, and gig-based workers to access higher qualifying income, larger loan amounts, and greater flexibility, using a method that reflects real cash flow strength rather than taxable income.
How It Works
Income is determined by analyzing incoming deposits over the most recent 12 months. Transfers, refunds, or gifts are excluded from the calculation.
| Step | What Happens |
|---|---|
| Step 1 | Provide 12 months of personal bank statements |
| Step 2 | Lender reviews qualifying income deposits |
| Step 3 | Total deposits are divided by 12 to find the average monthly income |
| Step 4 | This income is used to determine the qualification amount |
Example:
-Total deposits over 12 months: $180,000
-Average monthly qualifying income: $15,000
That income is used to determine how much you can borrow, regardless of whether the income is from commissions, bonuses, or other things that traditional income guidelines might discount.
When You Might Consider This Loan
This program is designed for borrowers with strong monthly cash flow, but not easily supported by traditional income documentation or guidelines. You may benefit from a 12-Month Bank Statement Loan if any of the following apply:
You Have Strong Income, But Low Taxable Income Due to Deductions
Many high-earning professionals reduce their taxable income through deductions, business expenses, or write-offs. While beneficial for tax strategy, it often results in lower reported income on tax returns. This program considers actual income deposits shown in bank statements rather than taxable income, which allows borrowers to qualify based on real cash flow.
You Recently Transitioned from W-2 Employment to Contract or Self-Employment
If you recently switched to self-employment or contract work, you may not yet have two full years of history that traditional lending guidelines require. This means that many lenders may not give you any credit for the income you’re earning, even if you are making more than you were before. With this program, consistent income demonstrated through bank deposits may be sufficient to qualify, even without a 2 year history.
Your Compensation Is Made Up of Commissions, Bonuses, Incentives, RSUs, or Stock Awards
Borrowers with variable income that comes from commissions, bonuses, stock options, royalties, or incentive pay often struggle to qualify using W-2s or pay stubs. They often average out all of these variable income sources over 24 months, so even if you landed a huge account or a big promotion, it might barely move the needle. This program captures your true earning power using the actual income you’re taking home in your deposits, which helps include irregular or performance-based income.
You Have Multiple Income Sources Throughout the Year
Income from consulting, rental properties, side businesses, gig platforms, or investments may not be fully reflected in traditional documents. Or, if you work any of those sources as a side hustle, traditional underwriting guidelines would prevent you from counting any of it without 2 years of history. Our program speeds up that timeline, just looking back at 12 months, because bank statements provide a clearer, more complete picture of total income across all sources, enabling stronger qualification potential.
You Have Digital, Online, Gig, or Platform-Based Income
Airbnb hosts, Uber drivers, DoorDash contractors, Etsy sellers, freelancers, and digital earners may not have income that fits conventional documentation formats or meet the 2-year history requirements, either. If income is deposited consistently into personal bank accounts, it can be used to qualify under this program.
You Want To Qualify Based on Real Cash Flow Instead of Taxable Income
Some borrowers simply want to qualify based on what is actually earned and deposited. If your bank statements reflect steady and verifiable income, this program allows you to qualify based on real cash flow, which often results in higher qualification limits compared to tax return-based methods.
Top Advantages of This Program
This program offers unique benefits not typically available with conventional or standard non-QM bank statement loans. It is designed to help qualified borrowers maximize their real income and expand their purchasing or refinancing opportunities, while keeping documentation requirements manageable.
The following advantages set this program apart:
| Benefit | Why It Matters |
|---|---|
| No self-employment requirement | Unlike typical bank statement loans, this program works for W-2 employees, independent contractors, business owners, and gig workers, not just self-employed individuals. |
| Only 12 months of bank statements needed | Simplifies documentation compared to programs that require 18 to 24 months of statements or full business financials |
| 100% of qualifying deposits counted as income | Other programs apply an expense reduction, but this program considers full deposit amounts for higher qualifying income |
| Loan amounts up to $3,500,000 | Supports jumbo financing in high-cost areas for purchases, refinances, and investments |
Key Qualification Highlights
This program follows a flexible, income-based qualification model, but there are still important eligibility factors that help determine approval, loan structure, rate options, and maximum loan amounts.
| Requirement | Explanation |
|---|---|
| Income Documentation | Qualifying income is determined using 12 months of personal bank statements. Deposits must be clear, verifiable, and reflect consistent earnings. Business bank statements are not required unless income flows through business accounts. |
| Minimum Credit Score | A minimum FICO score of 640 is required. Higher credit scores may improve rate options, reduce reserve requirements, and decrease down payment requirements. |
| Down Payment or Equity Requirement | Purchase loans may qualify with as little as 10% down. Cash-out refinances require at least 20% equity remaining in the home (80% maximum loan-to-value). |
| Reserve Requirements | Most loans require between 3 and 6 months of reserves, depending on loan amount, occupancy type, and overall borrower profile. Reserves help demonstrate financial capacity after closing. |
| Eligible Property Types | Single-family homes, second homes, investment properties, condos, non-warrantable condos, and 2 to 4-unit residences are all eligible under this program. Programs for short-term rental and Airbnb properties are also available. |
Frequently Asked Questions
Do I need to be self-employed to qualify?
No. This program allows both W-2 and 1099 borrowers to qualify using personal bank statements.
What types of deposits are counted as income?
Payroll, commissions, client payments, rental income, investment income, and gig earnings. Transfers, gift deposits, and refunds are typically not counted.
Can I use this loan for investment or Airbnb properties?
Yes. This loan program allows investment, multi-unit, condo, and short-term rental properties.
Is crypto income allowed?
Yes, as long as it has been converted to USD and appears as deposits in your personal bank statements.
What is the minimum down payment?
As low as 10% down for primary home purchases. Cash-out refinances and investment property financing have different loan-to-value limits.
What credit score is required?
Minimum 640 FICO. Higher scores may receive better terms.
Your Next Steps
Unlock your full income potential with JVM’s 12-Month Bank Statement Loan. Whether you are purchasing, refinancing, or exploring cash-out options, we will help you qualify using your real bank deposits, not just traditional tax documentation.
Connect with JVM Lending at (855) 855-4491 or hello@jvmlending.com to review your eligibility and take a confident step toward your home financing goals.
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