Non-QM Bank Statement Mortgage Calculator
Bank statement loans (a 'non-QM' product) qualify self-employed borrowers based on 12-24 months of business deposits instead of tax returns. Calculate qualifying income and your loan amount.
| Deposits / month | — |
| Expense factor applied | — |
| Qualifying income / month | — |
| Max monthly housing payment (DTI − other debt − TI) | — |
| Max P&I payment (PITIA − T&I) | — |
| Max loan amount at rate/term | — |
Non-QM bank statement loans qualify self-employed borrowers based on 12 or 24 months of business bank deposits instead of two years of tax returns. The lender applies an 'expense factor' (typically 30-60% depending on NAICS code) to reduce gross deposits to qualifying income. Useful for high-deposit but low-tax-return borrowers like business owners who maximize write-offs.
Who Benefits
Self-employed borrowers who: (1) maximize tax deductions (legitimate ones) — actual income is much higher than tax return shows, (2) have inconsistent monthly income (commissions, seasonal businesses), (3) recently went self-employed (under 2 years of returns), or (4) own multiple businesses where return-based qualification is complex.
How Expense Factor Works
Lender applies an industry-specific expense ratio to reduce deposits to income. Construction contractor 50%, consultant 40%, doctor 45%, restaurant 65%. Some lenders allow CPA letter or P&L statement to override the default expense factor — can improve qualifying income substantially.
Non-QM Trade-Offs
Higher rate (typically +100-200 bps over conventional), higher down payment (10-25% vs 3-20%), credit score 660+ required, higher closing costs, and not eligible for FHA/VA. Best when (a) you can't qualify with tax returns or (b) the bank-statement approach gives a much higher loan amount than your tax returns would.
Last updated May 2026. Sources: CFPB Mortgage Guides, Mortgage Bankers Association.