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We Are Still The Leader In Non-QM Bank Statement Loans For Self-Employed Borrowers

Bank Statement loans were one of the most highly utilized loan products with Angel Oak Mortgage Solutions pre-COVID. And they still are! Our Bank Statement program was the first product we brought back during the pandemic. The demand is strong among self-employed people wanting to purchase a home. There will always be a large population of self-employed people and many will require a non-QM mortgage. This is why it was important to get non-QM back to the market as quickly as possible after being paused temporarily. Now most non-QM products are available and the guidelines have improved offering more flexibility and options. Stricter documentation from Freddie and Fannie does not mean that self-employed borrowers are ineligible for a loan – this just means that more self-employed borrowers might need lenders offering non-QM loan solutions. Angel Oak Mortgage Solutions is still the leader in non-QM and we are still helping many brokers with Bank Statement loans for their clients. 

Have you made an effort to actively prospect for self-employed borrowers? If not, you should!

We educate people every day on HOW we help self-employed borrowers and HOW efficient our Bank Statement program is to close loans quickly. Here is valuable information we share with our clients, and their Realtor clients, to help fill the pipeline from a significant population of self-employed borrowers. 

The profile of a non-QM bank statement borrower might surprise you. Typically, we see borrowers who own their business, have good to excellent credit, and a higher than average salary. So what’s the problem? They don’t have a W-2 to verify income. That’s it! Many times, these borrowers are purchasing a home outside of conforming limits and need a Jumbo loan. Our Bank Statement program offers them the flexibility of verifying income by submitting 12 or 24 months of personal or business bank statements. They do not have to own 100% of their business either – only 50% for business submissions and 25% for personal submissions. We have a 1099 Income option for 1099 earners as well. Bring your loan scenarios for gig economy workers and independent contractors to us as well. 

The efficiency of our Bank Statement program might surprise you. Closing Bank Statement deals are not more difficult than Agency and they do not take longer to close. We make sure to get these done quickly! The process starts with our QuickQuote pricing technology. Continuous improvements to our technology ensures that you get an answer quickly and an account executive gets started right away. You don’t have to waste time reviewing and analyzing bank statements either. We have a bank statement review team that does that for you. Our skilled team reviews, analyzes and calculates income so you can continue to prospect and help your clients without this task taking up your time. We now have our Live Chat technology in place so your questions regarding a loan are answered right away. These services set us apart from other lenders. Work with us for better efficiency, faster technology and more support. 

The population of self-employed people might surprise you. Self-employed people account for 30% all employees in the U.S., which is around 18 million people, according to the Bureau of Labor Statistics. Restaurant owners, real estate agents, private practice lawyers and physicians,  and freelancers are just some examples of business owners. There are 18 million people who are self-employed! That is a lot of potential borrowers. We can help you prospect, market to and understand loan options for those ready to purchase who don’t have a W-2 to satisfy requirements of the ability to repay (ATR) rule.

Non-QM is back due to demand and not going away because a large population of people cannot purchase a home without it –  including many self-employed borrowers. Let your Realtors know to bring their self-employed clients to you because you have a lender who can get it done. We are here to walk you through the process, increase your referrals, and grow your business.


  • 12 or 24 months personal or business bank statements
  • Up to 85% LTV – No MI
  • Credit scores to 660
  • Loans up to $3 million
  • Minimum loan amount $150,000
  • Borrowers only need to own 50% for business loan and 25% for personal loan
  • 1099 Income option available