Self-Employed Loans
Bank Statement loans designed for business owners, freelancers, and entrepreneurs who write off significant expenses.
What are Self-Employed Loans?
A Self-Employed or Bank Statement loan is a non-QM mortgage that allows business owners and independent contractors to qualify for a home loan using their bank statements rather than traditional tax returns or W-2s.
Because self-employed individuals often take advantage of legal tax deductions, their tax returns may show a lower net income than what they actually earn. Bank statement loans look at the cash flowing into personal or business accounts over 12 to 24 months to determine true purchasing power.
Best For Which Buyers?
- Business Owners: Entrepreneurs whose tax returns don't reflect their true cash flow.
- Freelancers & Gig Workers: Independent contractors with variable income.
- Real Estate Agents: Commission-based earners with significant business write-offs.
Key Benefits
- ▸No tax returns required
- ▸Qualify using personal or business bank statements
- ▸Loan amounts up to $3 million or more
- ▸Available for primary residences, second homes, and investment properties
Why Work With Lake State Mortgage?
At Lake State Mortgage, we provide personalized guidance, a wide variety of loan solutions, and local, responsive service to match your individual financial goals.
Michigan Experts
Deep understanding of Grand Rapids and Michigan real estate, local guidelines, and state programs.
Wholesale Rates
Shopping dozens of wholesale lenders to find the best rate for your situation.
Competitive Rates
Access to a wide variety of loan programs to find the best rate for your situation.
5-Star Service
A commitment to clear communication and a stress-free closing process.
Fast Approvals
Streamlined processing to get your loan closed quickly and efficiently.
Self-Employed Loans FAQs
What Our Clients Say
"Kevin Wildman of Lake State Mortgage and his assistant, Christina, are like a godsend!!!"
Kevin Wildman of Lake State Mortgage and his assistant, Christina, are like a godsend!!! From the very first day I spoke to Kevin and all the way through the process, he was very kind, humble, patient, professional, attentive... Shall I go on? They were with us every step of the way!
Robert Shipley
Zeeland, MI
"Very Customer Focused"
Kevin and his team were prompt, friendly, and very available, even off hours. His team members were extremely helpful, and helped us complete all documentation easily and quickly. They also answered questions outside their area to help us with closing.
Aaron R.
Spring Lake, MI
"Amazing Service"
Lake State Mortgage provided excellent service. Every member of the staff was courteous, thorough, and quick to assist us with every question or issue. They even helped us find an agent to provide a great home insurance premium. We closed with a VA loan in four weeks!
April Norcross
Grand Rapids, MI
"Investment Home - Refi (AWESOME LENDER!)"
We found Kevin and learned about our various options with refinancing the home in order to re-invest in another property. Kevin was incredibly helpful, resourceful and guided us through every step of the process. We are definitely using him for all our mortgage needs in the future!
Jo Gamrot
Muskegon, MI
"Purchase on a new home - Record time closing!"
Kevin and his team are amazing! They were efficient, and were able to close my mortgage for me in record time. I was with a different lender at first that gave misleading information and expectations that were never met. So I switched my mortgage to Kevin's office and it was smooth sailing!
L. Decker
Indian River, MI
"Seamless MSHDA Down Payment Assistance"
Lake State Mortgage helped us secure $10,000 in MSHDA down payment assistance as first-time buyers in Grand Rapids! Kevin Wildman and his team walked us through every requirement without making it feel overwhelming.
Michael & Sarah K.
Grand Rapids, MI
Ready to Explore Self-Employed Loans?
Apply online in minutes or call our 24/7 AI pre-qual hotline.