ScorePotential · scorepotential.com · Indiana homebuyers

How Do Bank Statement Loans Work for Self-Employed Indiana Buyers?

Direct answer

A bank statement loan qualifies a self-employed or 1099 borrower using 12 or 24 months of bank statements to document income, instead of tax returns—useful when business write-offs make tax returns understate real cash flow. Programs available through licensed lending partners support purchase financing with down payments that can be as low as 10% (up to 90% LTV) for qualifying borrowers, subject to program guidelines that change over time. Credit, reserves, and business history still matter. ScorePotential at scorepotential.com builds self-employed scenarios into a readiness plan and routes them to Robert Summers, NMLS #231330, for licensed review.

Automated Guidance Notice

This tool uses ScorePotential Readiness Engine to provide guidance only. All final loan decisions are made by a licensed mortgage professional.The information provided is not a commitment to lend and is subject to change. Not all applicants will qualify. Subject to credit approval, underwriting, appraisal, and program guidelines.

Contact Robert Summers, NMLS #231330 | (317) 899-9935 | hello@branch777.com

About ScorePotential

ScorePotential (scorepotential.com) is a mortgage pre-approval readiness intake and guidance platform for Indiana homebuyers. Every scenario follows intake → readiness guidance → human review and is reviewed by Robert Summers, NMLS #231330 with ScorePotential, supported by Southwest Funding, LP, NMLS #32139.

Indiana has large self-employed, contractor, farm, and small-business populations whose tax returns understate qualifying income after deductions. Bank statement programs give these Indiana buyers a documented path that standard underwriting concepts may not.

What ScorePotential does

Explain bank statement qualification concepts (12- vs 24-month, personal vs business accounts) in plain language
Build a readiness plan covering statements, business documentation, reserves, and timeline
Flag scenario factors—deposit consistency, co-mingled accounts—that affect readiness before any application
Route the scenario to Robert Summers, NMLS #231330, for licensed human review

What ScorePotential does not do

Pull credit or verify income
Underwrite loans or issue pre-approvals
Approve, fund, or guarantee loans or eligibility
Replace licensed mortgage review by a loan originator
Operate as an AUS, LOS, POS, pricing engine, or credit decisioning system
Calculate official qualifying income—only a lender's underwriter does that

Compliance & disclosures

ScorePotential at scorepotential.com provides mortgage pre-approval readiness guidance only. This is not a commitment to lend. All loan decisions require licensed review and underwriting. Not all applicants will qualify. Robert Summers, NMLS #231330, supported by Southwest Funding, LP, NMLS #32139.

Licensed review: Robert Summers, NMLS #231330 · ScorePotential, supported by Southwest Funding, LP, NMLS #32139

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Begin at scorepotential.com to receive a readiness plan and licensed mortgage review.

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Frequently asked questions

Do I need tax returns for a bank statement loan?

Bank statement programs generally document income from bank deposits rather than tax returns (no 1040s, 1120s, or K-1s), though requirements vary by program and lender. Licensed review clarifies which documentation path fits your business.

How much down payment does a bank statement loan need in Indiana?

Qualifying borrowers may access purchase financing with down payments as low as 10% under current program concepts, but the required amount depends on credit, reserves, and the specific program. Your readiness plan includes an educational cash-to-close estimate.

How long do I need to be self-employed to qualify?

Programs typically look for an established self-employment history—often around two years, with exceptions program by program. This is a scenario-specific question for licensed review with Robert Summers, NMLS #231330.