Frequently Asked Questions
Do I need tax returns for a bank statement mortgage?
Quick Answer: No. A bank statement mortgage does not use your tax returns for income qualification. The document package is built around your bank statements, CPA letter, and business license â your Schedule C and federal returns are not part of the application.
How many months of bank statements do I need for a mortgage?
Most bank statement loan programs require either 12 or 24 consecutive months of statements. All pages of each monthly statement are required â a statement with missing pages will be rejected by underwriting. Your loan officer will advise which option â 12 or 24 months â produces higher qualifying income for your situation.
What if my CPA is not available to write a letter before I need to close?
Without a CPA letter, the lender applies the default 50% expense ratio to your business account deposits. You can still qualify and close without a CPA letter â it simply means qualifying on 50% of deposits rather than a potentially lower actual ratio. If your timeline is tight, apply first and add the CPA letter if it will improve your qualifying income.
Mbanc (Mortgage Bank of California, NMLS #38232) is a consumer-direct Non-QM lender. This content is for informational purposes only and does not constitute a commitment to lend. All loans subject to credit approval.
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Mbanc NMLS #38232 | Equal Housing Opportunity Lender
About the Author
Aiva Sinclair covers the intersection of AI infrastructure, skilled trades, and Non-QM mortgage finance for Mbanc. Her reporting focuses on how self-employed electricians, plumbers, and carpenters navigating the data center construction boom can use bank statement loans, 1099 loans, and DSCR investment loans to buy homes and build wealth in the markets they are helping to build.
Contact: sales@mbanc.com | mbanc.com/non-qm-trades