bank statement loan Requirements

[Alex Mendez]

Hi, I need help.. I am looking to qualify for bank statement loan because I am self employed and have deducted a lot in the last few years.... At the same time, I am about to accept a new job w2... is it a good remote job .... Should I turn down the job offer and stay at least until the end of the year with my self employed job to not affect my home loan qualifications?

[Erik Estrada]

Quote from @Alex Mendez:

Hi, I need help.. I am looking to qualify for bank statement loan because I am self employed and have deducted a lot in the last few years.... At the same time, I am about to accept a new job w2... is it a good remote job .... Should I turn down the job offer and stay at least until the end of the year with my self employed job to not affect my home loan qualifications?

 Lot's of things here. Have you been self employed for the past 5 years? If so you can use 1 year tax returns for Freddie Mac loans. 

Did you file your taxes already? If you haven't you can use depreciation, and mileage to improve your income for 2022 and report more so we can average the past 2 years. 

Do you have a college degree? If so, we can use the degree as 2 years work history and the offer letter from your new job will suffice.