Self-employed? Use your bank statements to qualify for a mortgage in Colorado Springs.

Bank Statement Loans Colorado Springs
If you’re self-employed in Colorado Springs and tired of traditional income verification, Bank Statement Loans could be your key to homeownership. These flexible mortgage solutions allow qualified borrowers to use personal or business bank statements in place of tax returns or W-2s—ideal for entrepreneurs, freelancers, gig workers, or anyone whose income doesn’t fit neatly into conventional lending boxes. At the JD.Mortgage team, we help Colorado Springs borrowers access loan options that fit real-life finances, not outdated paperwork. Start your custom quote today.
Who Can Benefit From a Bank Statement Loan in Colorado Springs?
Bank Statement Loans are designed for borrowers whose tax returns may not fully reflect their actual income. This includes business owners, 1099 earners, real estate agents, contractors, rideshare drivers, creatives, and anyone with variable or non-traditional income streams. If you’re thriving in your field but getting turned away by banks, this program is for you. Explore all your loan options here.
How Do Bank Statement Loans Work?
Instead of verifying income through tax returns, we analyze 12 to 24 months of personal or business bank statements to calculate your average monthly income. Here’s what to expect:
- Minimum 12 months of bank statements required (24 months preferred for stronger qualification)
- Business expenses calculated based on industry norms or CPA letter
- Available for purchases, cash-out refinances, and rate-term refinances
- Loan amounts up to multi-million dollar limits
This type of mortgage is a part of our Non-QM lending suite—offering alternatives for borrowers who don’t fit the conventional mold. See what you qualify for today.
Why Colorado Springs Entrepreneurs Choose Bank Statement Loans
Colorado Springs is home to a diverse and growing small business community. From Old Colorado City boutiques to downtown food trucks and Northgate tech startups, many local professionals earn income in creative or non-W2 ways. Bank Statement Loans allow these professionals to stay local and own where they live and work—without jumping through impossible hoops. Learn more about the Colorado Springs lifestyle.
Eligibility Guidelines
Requirements can vary slightly by lender, but these are common standards:
- Minimum credit score of 620 (higher scores improve rates)
- Debt-to-income ratios up to 50%
- Self-employed for at least 2 years (exceptions possible with strong documentation)
- No recent bankruptcies or foreclosures
We offer Non-QM flexibility that allows for exceptions based on compensating factors. If you’ve been told “no” before, let us take a second look. Connect with our team for a review.
Bank Statement Loan vs. Traditional Loan
Here’s a quick comparison:
Feature | Bank Statement Loan | Traditional Loan |
---|---|---|
Income Verification | 12–24 months bank statements | Tax returns, W-2s, pay stubs |
Ideal Borrower | Self-employed, 1099, business owners | Salaried employees |
Flexibility | High | Limited |
Not sure which fits you best? We’ll help you compare options side by side.
Using Bank Statement Loans in Colorado Springs
With scenic views of Pikes Peak and a booming local economy, Colorado Springs remains one of the most desirable cities in the country. Whether you’re buying a new home in Briargate, refinancing a westside bungalow near Garden of the Gods, or building equity in your live/work setup downtown, this loan type gives you more control. Check out what’s happening across the city.
Can You Refinance With a Bank Statement Loan?
Yes. Many of our Colorado Springs clients use this option to access equity, consolidate debt, or lock in better terms—even when their income profile doesn’t work for a traditional lender. We offer cash-out refinances and rate-term options with streamlined documentation. See your refinance choices here.
What If I Also Own Investment Properties?
No problem. For those expanding their portfolio, we also offer DSCR Loans that focus on property income instead of personal income. Many self-employed clients use both products as part of their long-term real estate strategy. Explore our Non-QM options to build your portfolio smartly.
Your Local Mortgage Resource
Whether you’re relocating from out of state, growing your business, or simply need an alternative to rigid underwriting rules, the JD.Mortgage team is here to help. We live and lend right here in Colorado Springs and understand the challenges of being self-employed in today’s market. Contact us today to find your path forward.
Explore Additional Loan Programs
Bank Statement Loans are just one of many flexible mortgage options we offer. Depending on your situation, you might also explore:
- VA Loans with No Minimum Credit Score
- FHA Loans
- USDA Loans
- Conventional Loans
- Down Payment Assistance Programs
- Investment Property Loans
- Non-QM Loans (including ITIN and Asset Depletion Loans)
- HELOCs and Second Mortgages
- Reverse Mortgages
- Construction Loans
No matter where you are in your journey, the JD.Mortgage team is your local expert resource in Colorado Springs. Here’s how we help you through the process.
📍 Helping Colorado Springs’ Self-Employed Buyers
Contractors • Consultants • Real Estate Agents • Small Business Owners
If tax returns don’t tell the full story, we’ll help you qualify using bank deposits instead.
💡 Why Use a Bank Statement Loan?
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Qualify with 12 or 24 months of deposits
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No W-2s or tax returns required
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Personal or business bank statements accepted
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Available for primary, second home, or investment
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Interest-only options and competitive rates
🧾 Who We Help
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1099 contractors & freelancers
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Sole proprietors & LLCs
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Real estate & gig economy professionals
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High-income earners with large write-offs