Usually no for income qualifying — most Non-QM bank statement programs use 12–24 months of deposits instead of tax-return AGI, which is why write-off-heavy businesses often qualify better here than on conventional.
Income is built from deposits — not Schedule C net profit.
Income source
Bank deposits
12 or 24 consecutive months
Tax returns for DTI
Usually not used
Deposit average drives qualifying
Still required
Credit + assets
ID, reserves, property docs remain
Personal path
Deposit factor
Often ~100% of eligible deposits
Business path
Expense factor
Or CPA P&L / expense letter
Overlays
Investor-specific
Some files still request returns
Product rules vary by investor and change without notice. Not a guarantee of approval or documentation list.
Skipping returns for income is the default — not a promise that nothing tax-related ever shows up.
Ryan & Steve start with your statements — personal, business, or both — and match the investor that qualifies on deposits without forcing a tax-return income calc.
If an overlay needs a CPA letter, P&L, or a limited tax request, we tell you up front so you gather the right docs once.
The goal is simple: document real cash flow for Indiana self-employed borrowers without letting write-offs block homeownership.
Typical first ask (no returns)
Related bank statement guides and Non-QM resources from Ryan & Steve.
How deposits become qualifying income without AGI from returns.
Expense factors and what lenders remove from deposits.
When a profit-and-loss statement supports a lower expense ratio.
Full program hub with guidelines and Get Pre-Approved CTAs.
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Most bank statement Non-QM programs do not use tax returns to calculate qualifying income. Lenders average 12–24 months of eligible deposits instead. Some investors may still request returns for identity, asset, or product overlays — guidelines vary.
Aggressive write-offs — depreciation, vehicles, home office, equipment — can make AGI look too low for conventional approval even when cash flow is strong. Deposit-based qualifying uses what hits the account, not taxable income.
Sometimes. A CPA expense letter, P&L, or ownership verification may reference tax filings, or an investor overlay may require returns for a specific occupancy or loan size. We flag that early so you are not surprised mid-file.
No. Bank statement loans are documented — just differently. You still provide statements, credit, assets, ID, and property paperwork. “No tax returns for income” is not the same as undocumented.
Ryan & Steve will review your deposit history and confirm whether your file can skip returns for income — before you apply.
Ryan Minick and Steve DeLon — Branch Managers & Senior Loan Officers at Luminate Bank. Based in Kokomo, Indiana. Lending nationwide since 2005.
Contact
Ryan Minick NMLS# 203249
Steve DeLon NMLS# 202876
Luminate Bank NMLS# 1281698
Kokomo's Mortgage Team. Lending Nationwide.
1221 Appletree Lane, Kokomo, IN 46902
Luminate Bank NMLS 1281698 Bank Headquarters 2523 S. Wayzata Blvd., Suite 100 Minneapolis, MN 55405 (952) 939-7200. This is not an offer to enter into an agreement. Information provided is outlining the minimum down payment requirements as allowed by specific loan program and product guidelines and any information, rates and programs are subject to change without prior notice and may not be available in all states. All loans are subject to credit and property approval. Luminate Bank is not affiliated with any government agency. All rights reserved.
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