Bank Statement Loans for Self-Employed Michigan Buyers

What we look at — and what we don't.

12 to 24 months of deposits

Business account, personal account, or both depending on the program. We add up your deposits, back out anything that's clearly not income (transfers, refunds, tax returns), and what's left is your qualifying income.

No paystubs. No W-2s. No tax returns.

After your CPA writes off equipment, mileage, the home office, and depreciation, your taxable income is a fraction of what you actually make. That's the gap a Bank Statement loan closes.

Real mortgage. Real terms.

Same houses, same neighborhoods, real 30-year fixed (or ARM if it makes sense). Down payment as low as 10% in many cases. Closes through the same title companies as a conventional loan.

Twenty years in Michigan mortgages.

I'm Rob McKenney — USMC veteran, NMLS #23394, and the broker behind McKenney Home Lending in Milford, MI. Two decades in mortgages, brokering for the last few of them — which means I bring twenty years of options-shopping experience to the borrowers retail banks struggle with: self-employed, commission earners, 1099 contractors.

I shop your file across a panel of wholesale investors — different pricing, different programs, different appetites — and find the one that fits your situation. If a retail bank told you no, that's usually a portal looking at the wrong number. Let's look at the right one.

NMLS #23394 · USMC Veteran · 20+ years in mortgage · 1,000+ families helped

How this works — three steps.

Quote

Fill out the form above. Rob calls within 4 hours, gathers your bank statements, and runs the numbers. No credit pull yet. No commitment.

Pre-approval

If the numbers work, Rob sends a pre-approval letter — you're ready to make offers. Only at this step do we pull credit and start the formal application (about 15 minutes online).

Close

Once you're under contract, Rob handles underwriting, appraisal coordination, and weekly updates until close. Most Bank Statement loans close in 30–45 days.

Common questions — straight answers.

What's the down payment?

Most Bank Statement programs start at 10–15% down for primary residences, sometimes higher for investment properties. We'll know yours after the first call.

What's the rate?

Bank Statement rates run a bit higher than conventional — typically 0.5%–1.5% above a conventional loan, depending on credit and down payment. The tradeoff is qualifying on real income instead of taxable income, which usually means a bigger loan. We don't post specific rates here because they change weekly. The first call gets you a real quote based on your file.

How fast can we close?

Bank Statement loans typically close in 30–45 days from contract — same timeline as a conventional loan in most cases.

I'm self-employed AND my spouse is W-2 — do we have to use this program?

Often no. If your spouse's W-2 income is enough on its own, we can use a conventional loan and qualify only on theirs. Cheaper and faster. We'll figure out which path makes sense in the first call.

Ready to see what you actually qualify for?

Get a quote — I'll call you back within 4 hours.

Get my 4-hour callback