Sarasota · Bradenton · Lakewood Ranch · Self-employed
Bank Statement Loans in Sarasota & Bradenton, FL
Qualify on your deposits, not your tax return.
Self-employed mortgage financing based on 12 or 24 months of bank deposits instead of traditional tax-return income. If your write-offs make you look smaller on paper than you really are, this is the program built for you.
What is a bank statement loan? A bank statement loan is a mortgage for self-employed borrowers that uses 12 or 24 months of personal or business bank deposits to document income instead of tax returns and W-2s. Eligible deposits are averaged (business accounts get an expense factor), and that figure becomes your qualifying income. The Galli Team, based in downtown Bradenton, closes these loans for Sarasota and Manatee County business owners, contractors, real estate agents, medical practices and 1099 earners.
Who this is built for
Sarasota & Bradenton's self-employed, financed.
Sarasota and Bradenton are home to a large community of business owners, contractors, professionals, real estate agents and 1099 earners whose income doesn't fit neatly into traditional mortgage underwriting. These are the borrowers we work with every week.
Contractors & trades
Pool, roofing, HVAC, marine, landscaping — big deposits, big write-offs. Your bank statements tell the true story.
Real estate agents & brokers
Commission income, 1099, a strong 24 months but a thin Schedule C. We qualify you the way you actually earn.
Medical & professional practices
Physicians, dentists, therapists, attorneys and CPAs with S-corp or partnership income that a conventional lender can't read.
Restaurants, salons & hospitality
Seasonal Siesta Key, Anna Maria and downtown businesses with cash flow that swings — a 24-month average smooths it out.
Consultants & online businesses
Remote earners who moved here for the lifestyle and get paid through Stripe, PayPal or invoices.
Amazon, e-commerce & gig
Sellers and multi-platform earners with revenue that lives in a business account, not on a W-2.
How it works
Four steps from statements to keys.
Send 12 or 24 months of statements
Personal or business — we tell you which works better for you on the first call.
We calculate your qualifying income
Deposits are totaled, non-business transfers removed, and a business expense factor applied if needed. You get a number.
Pre-approval letter in hand
A letter Sarasota and Bradenton agents recognize, with the financing structure spelled out.
Close in about 30 days
A similar timeline to a conventional loan. No last-minute tax-return surprises.
| Personal statements | Business statements | |
|---|---|---|
| Best when | You pay yourself regularly from the business into a personal account. | Revenue stays in the business account and you draw irregularly. |
| How deposits count | Eligible deposits generally count at 100%. | An expense factor (often 50%, lower with a CPA letter) reflects business costs. |
| Also needed | Proof the business exists and that you own it. | Ownership percentage applied if you have partners. |
Requirements
Sarasota bank statement loan requirements.
Here's what lenders typically look for on a bank statement mortgage in Sarasota, Bradenton and Lakewood Ranch. Exact requirements vary by lender and program — we match your file to the ones that fit.
- 12 or 24 consecutive months of personal or business bank statements
- Proof the business exists — a business license, CPA letter or similar
- Self-employment history, typically 2 years (1 year can work with prior experience in the same field)
- Credit score requirements set by the specific program
- Down payment based on program and property — often from 10% for a primary home
- Cash reserves when the program requires them
- An appraisal of the property
- Debt-to-income within program limits, using your bank-statement income
- Your ownership percentage of the business when using business accounts
- Explanations for large or non-business deposits when asked
Requirements vary by lender, borrower, property and loan program, and may change without notice. We'll identify the programs that fit your specific situation.
Compare
Bank statement vs. conventional mortgage in Sarasota.
If your tax returns show significantly less income than your actual cash flow, a bank statement program is worth comparing side by side with conventional financing.
| Conventional | Bank statement | |
|---|---|---|
| Built for | W-2 and traditional income | Self-employed and non-traditional income |
| Income proof | Tax returns, W-2s, pay stubs | 12 or 24 months of bank statements |
| How income is figured | Net income after write-offs | Average eligible deposits (expense factor on business accounts) |
| Effect of write-offs | Lower your qualifying income | Generally don't reduce deposit-based income |
| Down payment | Program dependent — can be lower | Program dependent — often from 10% |
| Pricing | Often lower rates | Typically higher; a buydown can soften year one |
| Best fit | Tax returns show your full income | Strong cash flow, lower taxable income |
Not sure which program fits?
| If your situation is… | Consider |
|---|---|
| Strong W-2 income | Conventional |
| First-time buyer, smaller down payment | FHA & first-time buyer programs |
| Veteran or active military | VA loans |
| Self-employed with strong deposits | Bank statement loan (this page) |
| Investor qualifying on rent | DSCR loans |
| Self-employed buying a higher-priced home | Sarasota jumbo loans |
| Business owner with a CPA-prepared P&L | P&L / non-QM programs |
The right program depends on your whole file. The Galli Team compares the options with you before you commit to one.
60-second estimate
What could your deposits qualify for?
A rough read on qualifying income and a purchase price range. Not an approval — a starting point for the conversation.
At ~45% DTI with taxes & insurance included. Illustration only, based on an example rate; bank statement rates are set on your full file. This is not an approval or a quote.
Local numbers
Bank statement loan examples in Sarasota & Bradenton.
Pool contractor
24 months of business statements averaging $38K/month, 50% expense factor → $19K/month qualifying income. 20% down. A conventional lender had him at $9K/month off his Schedule C.
Realtor couple, both 1099
12 months of personal statements. Qualified on deposits after two big banks wanted two years of tax returns showing the income.
Restaurant owner
Seasonal swings. A 24-month average carried the slow summer months. Closed in 31 days.
HVAC company owner
12 months of business statements averaging $26K/month. A CPA letter lowered the expense factor to 30%, putting qualifying income near $18K/month.
Examples are composites of typical files, not specific borrowers. Every loan is priced and approved on its own facts.
"Sarasota and Bradenton run on people who work for themselves. If your bank account tells a better story than your tax return, that's the story we underwrite."Chris Galli · Region Manager · Novus Home Mortgage · NMLS #13152 · Bradenton
For Sarasota & Bradenton agents
Your self-employed buyer isn't dead. Send the file.
Denied by the big bank?
Send us the denial and the statements. We'll review the file within one business day and tell you whether a bank statement program may give your buyer another path to closing.
Pre-approvals your listing side trusts
Our letter spells out the program and the income method, so the listing agent's lender questions are answered before they're asked.
Pair with a buydown
Bank statement loans price higher than conventional. A seller-paid 2-1 buydown can soften year one and keep your price intact. See the buydown page →
Get started · No hard credit pull
Send us the statements. We'll send you a number.
Tell us how to reach you. We'll call to confirm which statements to send and walk you through your estimate.
Rather talk now? Call (941) 529-1040 or book a call.
Quick answers
Sarasota bank statement loan FAQ.
Do I really not need tax returns?
How many bank statements do I need for a mortgage?
How is my income calculated?
Are rates higher than a conventional loan?
How much do I need down?
Can I use a bank statement loan for a condo or second home?
I've only been self-employed 18 months. Am I out?
I was denied by another lender. Can you still help?
Do you serve Bradenton, Lakewood Ranch and the rest of the Suncoast?
Related
Other ways we say yes.
Ready when you are
One call. A real answer.
Fifteen minutes with Chris or the team, no hard credit pull, and you'll know where you stand and what to do next.