Self-Employed Mortgage Approval Based on Your Real Cash Flow
Running your own business should not stand between you and your own home. If you are self-employed in Grand Rapids, MI, Private Mortgage Guarantee LLC offers bank statement loans that look at your deposits instead of relying only on tax returns. Founder Michael Morse and our locally owned team bring 25 years of mortgage experience and personal service to every borrower. Get approved today by calling 616-822-3068 for a free quote.
How Bank Statement Loans Work
A bank statement loan is a type of non-QM mortgage that uses your personal or business bank statements to verify income. Instead of focusing on net income after write-offs, lenders review months of deposits to estimate your true earning power. This can help entrepreneurs, freelancers, contractors, and small business owners qualify for a home loan.
Who Is a Good Fit?
Business Owners and Entrepreneurs
If you own a company and take legitimate deductions, your tax returns may understate your income. Bank statement financing recognizes the money moving through your accounts.
Freelancers and Independent Contractors
Income that changes from month to month can confuse standard underwriting. A statement-based review provides a clearer picture of your overall earnings.
Gig and Commission Earners
Drivers, sales professionals, and others with variable pay may also be able to document their income through deposits.
What Documents Will You Need?
Requirements vary by program, but you can usually expect to provide:
Personal or business bank statements covering a set number of months
Identification
Details about your business
Credit and asset information
Our skilled, fully trained staff will tell you exactly what to gather, so you do not waste time on unnecessary paperwork.
Rates, Costs, and Honest Advice
Because bank statement loans are flexible, pricing and down payment requirements may differ from conventional loans. We explain these differences clearly and compare other options, such as conventional or FHA financing, so you can choose confidently. If another program fits better, we will say so.
Easy Service, Local Support
Most loans close in about 15 to 20 days, depending on your file. You can complete consultations, applications, and closings by phone, email, text, and online portal, or we can come to you. We offer free quotes and after-hours service, and we speak Spanish.
Bank Statement Loans vs. Traditional Mortgages
Traditional mortgages rely heavily on tax returns, W-2 forms, and pay stubs. That approach works well for salaried employees, but it can underestimate income for people who run their own businesses. Bank statement loans trade some of that paperwork for a review of deposits. The result may be a path to ownership that standard programs cannot offer, though pricing and down payment requirements may differ.
Getting Ready to Apply
Keep personal and business accounts organized, separate business and personal spending where possible, and avoid large unexplained transfers. Review your credit report for errors. Our team will help you build a simple plan, step by step, so you can apply when you are ready.
Serving Self-Employed Borrowers Across the Grand Rapids Area
We help business owners in Grand Rapids, Wyoming, Kentwood, Walker, Grandville, Northview, Comstock Park, Forest Hills, Jenison, Cutlerville, Cascade, and Belmont. Call 616-822-3068 today. Our NMLS Company License number is 2033317.