Your business deposits tell the truth about your income. Your tax return tells the IRS as little as legally possible. A bank statement loan uses the deposits. 12 or 24 months of statements, no tax returns, and a real underwriter who reads your business the way you run it. Colorado Springs based. 25+ years.
No SSN required. No credit pull. Takes about 2 minutes.
How a Bank Statement Loan Works
You give us 12 or 24 months of statements from one account. We add up the deposits that count and divide by the months. That average is your income. Your Schedule C never enters the file. No tax transcripts are pulled.
Personal statements
Deposits count at 100%. Best when your business pays you and you move the money to a personal account. Everyone on the account must be on the loan.
Business statements
An expense factor comes off the top. Fixed 50% with no extra paperwork. Or a lower percentage your CPA states. Or 20% for a solo service business with almost no overhead. You must own at least 25% of the business.
What You Need to Qualify
Source: PRMG Non-QM Income Qualifying product profile dated June 4, 2026. Terms change. Confirm on your file.
Deposits That Count and Deposits That Do Not
Counts
Regular business revenue. Transfers from your business account to your personal account. 1099 income. Steady deposits you can explain.
Comes out
Transfers between your own personal accounts. Loan proceeds, gifts, tax refunds. Large one-time deposits with no paper trail. Business activity running through a personal account moves the file to business treatment.
Bounced payments and overdrafts in the last 12 months must be explained. A lot of them can end the file. If your account is messy, tell us before we order anything. We can often pick a cleaner account or a cleaner 12-month window.
Colorado Springs Businesses This Fits
Trades and construction companies serving the Falcon, Banning Lewis Ranch, and Monument build-out. Restaurants and food trucks downtown and in Old Colorado City. Gyms, salons, and med spas along Powers and in Briargate. Cleaning and property management companies working the base rental market. Landscapers and snow removal outfits with seasonal deposits, which is where the 24-month option earns its keep.
Why Colorado Springs Has So Many Self-Employed Buyers
This is a military town. Military towns run on small business. Contractors who serve Fort Carson, Peterson, Schriever, and the Academy. Spouses who built a business that moves with each PCS. Veterans who got out and started a company. Real estate agents. Home builders. HVAC and plumbing shops. Cleaning companies, gyms, salons, and food trucks. And a growing number of remote 1099 workers who picked the Pikes Peak region on purpose.
The problem is the same for all of them. A good accountant lowers your taxable income. A bank reads that lower number as your pay. So the owner who keeps the most money is often the one who gets told no. We fix the document, not the business.
Bank Statement vs. Regular Loan for a Colorado Springs Business Owner
Myths
Myth: Bank statement loans are stated income. No. Every deposit is reviewed. Large deposits need a paper trail. It is full documentation through a different lens.
Myth: You need a CPA. No. The fixed 50% option on business statements needs no CPA document. A CPA letter only matters if you want a lower factor.
Myth: The rate makes it not worth it. The comparison is not this loan versus a cheaper loan you were denied for. It is this loan versus giving up two years of write-offs to make a bank happy.
Every Colorado Springs Self-Employed Page We Have
Sorted by how you get paid and what you are trying to do.
Colorado Springs self-employed mortgage hub
Every self-employed and business-owner loan path we run in Colorado Springs, sorted by how you get paid.
P&L loans in Colorado Springs
Your CPA’s profit and loss statement is your income.
1099 loans in Colorado Springs
100% of your 1099 income counts. No expense haircut.
Asset depletion loans in Colorado Springs
Qualify on savings and investments instead of a paycheck.
Alt-AUS jumbo in Colorado Springs
Above $832,750 with clean tax returns and a DTI up to 49.99%.
Self-employed refinance in Colorado Springs
Rate-and-term to 89.99%. Cash-out to $1,500,000. No tax returns.
DSCR loans in Colorado Springs
Rentals qualify on rent, not your income.
Jumbo loans in Colorado Springs
Broadmoor, Flying Horse, Black Forest. Eight jumbo paths.
Contractor and trades mortgages
Built for builders, HVAC, plumbing, electrical, and every trade in El Paso County.
Realtor and commission-income mortgages
1099 agents and commission earners. Variable income, handled.
Rental property investor loans
House-hack, BRRRR, and out-of-state buyers. DSCR, bank statement, and HELOC paths.
Colorado Springs Bank Statement Loan FAQ
Can I get a mortgage in Colorado Springs without tax returns?
Yes. A bank statement loan uses 12 or 24 months of bank statements to set your income. Tax returns are not used and no tax transcripts are pulled.
What credit score do I need for a bank statement loan in Colorado Springs?
660 is the minimum. A 720 to 740+ score opens 10% down on a primary home and higher loan amounts.
How many months of bank statements do I need?
12 months is standard. 24 months is used when income is seasonal, like landscaping or snow removal, or when the longer average is higher.
Can I mix personal and business statements?
No. You use one or the other on the same loan. If business income and expenses run through your personal account, the file is treated as business statements. An expense factor then applies.
What is the expense factor on business bank statements?
There are four options. A fixed 50% with no extra paperwork. A lower number your CPA states in writing. A minimum of 15% with a third-party P&L. Or 20% for a solo service business with no cost of goods, no heavy equipment, and no office rent.
Do I need a CPA to get a bank statement loan?
No. The fixed 50% option needs no CPA document. A CPA expense letter is only used if you want a lower factor applied.
Can I buy a rental in Colorado Springs with a bank statement loan?
Yes. Primary homes, second homes, and 1 to 4 unit rentals all qualify. Rentals require a larger down payment. A DSCR loan may also fit and skips your income entirely.
Can I use a bank statement loan for a jumbo purchase in Colorado Springs?
Yes. Anything above $832,750 in El Paso County is jumbo. Bank statement loans go to $3,500,000 with higher credit and reserve requirements at the larger amounts.
What if I have been self-employed less than two years?
It works if you have two years of W-2 history in the same line of work. Under one year does not qualify on a bank statement loan.
Full program mechanics are on the national bank statement loan guide and the bank statement loan FAQ. For the math side, read how banks calculate self-employed income.
Written by
J.D. Peck
Area Manager and Mortgage Loan Originator at Paramount Residential Mortgage Group, Inc. NMLS #314883. 25+ years of mortgage experience, 3,100+ closed loans, Scotsman Guide Top Originator 2026.
Last updated: September 9, 2026. Loan program parameters subject to change — confirm current eligibility on your specific scenario before relying on any figure shown.
Run Your Deposits Before You Assume the Answer
Two minutes to start. No SSN. No credit pull. We calculate your income from your statements and tell you the number before you shop.
What are you looking to do?
No SSN required. No credit pull. Takes about 2 minutes.