f you’re self-employed and your tax returns don’t reflect your real income, a Bank Statement Loan could be the key to homeownership. Kristy Gannon at Ownity Mortgage helps independent professionals across California qualify based on bank deposits, not just paperwork. With over 20 years of experience, Kristy simplifies the mortgage process so you can buy or refinance with confidence.
Bank Statement Loans are an alternative mortgage option for borrowers who earn income through self-employment, contract work, or non-traditional sources. Instead of using tax returns or W-2s to qualify, lenders review your personal or business bank statements to verify income. This loan type is ideal for those whose tax write-offs or deductions make traditional mortgage approval difficult. Kristy Gannon offers expert guidance for self-employed clients in California who need a flexible way to finance a home.
These loans are especially helpful for business owners, freelancers, consultants, gig workers, and independent contractors who earn a solid income but don’t show it clearly on their tax returns. If your gross deposits are strong but traditional underwriting doesn’t reflect your true buying power, a Bank Statement Loan could be your best option. Kristy Gannon works with clients across California to find fair, flexible solutions that fit the way they actually earn.
Rather than looking at adjusted gross income from tax returns, Bank Statement Loans analyze your monthly deposits over a 12- or 24-month period to calculate qualifying income. Lenders may use business or personal statements depending on your financial structure. The loan is then underwritten like a traditional mortgage, but with the added benefit of understanding your actual cash flow. Kristy Gannon will walk you through document collection, income calculation, and the entire approval process from start to finish.
Bank Statement Loans can be structured as fixed-rate or adjustable-rate mortgages, and they’re available for primary homes, second homes, or even investment properties. Depending on your needs, lenders may average your monthly deposits or use custom formulas to reflect your business income accurately. With Kristy’s support, you’ll find the right loan setup and terms to match your unique income profile.
These loans offer self-employed buyers the freedom to qualify based on what they actually earn, not just what they report after deductions. Bank Statement Loans often provide faster approvals, more accurate income calculations, and greater access to homeownership or refinancing when tax returns don’t tell the full story. With Kristy’s knowledge and support, you’ll be empowered to secure financing that’s built around you—not the system.
If your business is thriving but your tax returns don’t reflect it, a Bank Statement Loan may be the ideal solution. Whether you’re buying your first home, upgrading to a new one, or refinancing to access equity, this loan type provides flexibility without sacrificing fairness. Kristy Gannon will evaluate your financials, answer your questions, and help you decide if this path makes the most sense for your goals.
With over 20 years of experience, Kristy Gannon has helped countless self-employed buyers achieve their dreams of homeownership. She understands the challenges of qualifying with non-traditional income and works with a wide network of lenders offering Bank Statement Loans across California. At Ownity Mortgage, Kristy delivers personalized service, clear communication, and a commitment to helping you secure the financing you deserve.
If you’re self-employed, qualifying for a mortgage shouldn’t be a roadblock. Kristy Gannon is here to answer your questions and help you secure financing that works for how you really earn.
A bank statement loan is a mortgage designed for self-employed borrowers who do not have W-2 income. Instead of tax returns, lenders review 12 to 24 months of bank statements to determine income eligibility. This allows business owners, freelancers, and gig workers to qualify based on actual deposits rather than adjusted taxable income.
Generally, lenders want to see at least two years of self-employment history, but some may accept less with strong compensating factors. Kristy will review your timeline and guide you accordingly.
Bank Statement Loans can be used to purchase primary residences, vacation homes, and even investment properties, depending on the lender. Kristy will help structure the right loan for your property type.
Because Bank Statement Loans involve more risk and custom underwriting, rates can be slightly higher than traditional loans. However, Kristy works with multiple lenders to help you get the most competitive rate possible.
Yes, these loans are also available for rate and term refinancing or cash-out refinances. If you’re already a homeowner and self-employed, this can be a great option to tap into equity or improve your loan terms.
Conventional loans require W-2s, pay stubs, and tax returns to verify income, making it difficult for self-employed borrowers to qualify if they take significant tax deductions. Bank statement loans offer alternative income verification, using bank deposits instead of tax filings, which provides a more accurate picture of cash flow.
Yes! Lenders analyze total deposits over 12 to 24 months, calculating a monthly average income to determine loan eligibility. Seasonal workers, business owners, and freelancers who experience income fluctuations can still qualify as long as cash flow is consistent over time.
Absolutely. Freelancers, consultants, and gig economy workers can use bank statement loans to qualify without W-2s or employer verification. Lenders consider consistent deposits in personal or business bank accounts to determine income.
Not necessarily. Bank statement loans are available to sole proprietors, LLC owners, and independent contractors. If you earn income outside of traditional employment, you may qualify by providing personal or business account statements.
Bank statement loans provide greater flexibility by allowing borrowers to qualify based on real cash flow rather than taxable income. These loans remove the need for complex tax return calculations and provide higher debt-to-income ratio allowances, making it easier for self-employed buyers to secure home financing.
Many self-employed borrowers take deductions that lower their taxable income, making it harder to qualify for conventional loans. Bank statement loans allow you to use gross income deposits from your bank account rather than adjusted income from tax returns, increasing loan eligibility.
Interest rates depend on credit score, loan amount, and down payment. While some bank statement loans may have slightly higher rates than conventional loans, borrowers with strong financials and a larger down payment can access competitive rates.
Lenders require:
Yes. Borrowers can use either personal or business bank statements, depending on how they manage their finances. Some lenders combine multiple accounts to calculate total qualifying income.
Most bank statement loans require a credit score of 620 or higher, but borrowers with 700+ credit scores typically qualify for lower interest rates and better loan terms.
Most lenders prefer at least two years of self-employment history, but some programs allow one year of business ownership if the borrower has strong financials and prior industry experience.
Down payment requirements vary by lender. While some programs allow as little as 10 percent down, borrowers with larger down payments may qualify for better rates and lower overall loan costs.
Yes! Borrowers who don’t qualify can explore:
The Turnkey Foundation Inc. DBA Ownity Mortgage | NMLS# 236669 | NMLS# 2592455| DRE# 01845041 | All rights reserved.
7606 Meany Ave. Suite 103 Bakersfield, California 93308
DRE #01771805
NMLS #245918
Arbor NMLS #236669
Arbor DRE #01845041
