How this calculator works
Business accounts get an expense factor (often 50%, lower with a CPA letter). Personal accounts usually count eligible deposits in full. Transfers between your own accounts and one-off non-business deposits are excluded.
Loans this applies to
Bank Statement Loans
A bank statement loan is a non-QM mortgage that calculates self-employed income from 12 or 24 months of personal or business bank deposits instead of tax returns.
P&L-Only Loans
A P&L-only loan qualifies a self-employed borrower using a 12- or 24-month profit and loss statement prepared or signed by a CPA, EA or licensed tax preparer, with no tax returns.
1099 Loans
A 1099 loan qualifies independent contractors using their 1099 forms (and sometimes a small expense factor) instead of full tax returns, so write-offs on Schedule C do not shrink your qualifying income..
FAQ
Is the Bank Statement Income Calculator free?
Yes. It is free, needs no sign-up and does not check your credit.
How accurate is the Bank Statement Income Calculator?
It uses the same formulas lenders use, but results are estimates. Your actual terms come from your Loan Estimate or term sheet.
Estimates only, for educational use. Not a loan offer or commitment to lend.