Yes — contractors, landscapers, retailers, and other seasonal businesses often qualify when a full 12–24 month deposit average supports the payment, even if some months are quiet.
Underwriters average the lookback — they do not require every month to look the same.
Lookback
12 or 24 months
Longer often smooths seasonality
Income math
Average deposits
Peaks + valleys ÷ months
Quiet months
Usually OK
Missing statements are not
Timing
Flexible
Apply mid-cycle if average works
Reserves
Still matter
Cash after closing for slow seasons
Docs
Full consecutive set
All pages, no gaps
Guidelines vary by investor. Seasonal averages must still support DTI and reserves for the matched product.
Patterns underwriters like to see when revenue is not flat year-round.
Ryan & Steve model your trailing 12 and 24 month averages so you know whether applying now or after the next busy season moves the needle.
If you recently expanded or changed business mix, we may prefer the longer lookback or a short wait so the average reflects the new reality.
Seasonal Indiana businesses — construction, landscaping, agriculture-adjacent trades, holiday retail — are common bank statement files when deposits tell a consistent story.
Seasonal borrower checklist
Related bank statement guides and Non-QM resources from Ryan & Steve.
12 vs. 24 month lookbacks that smooth seasonal swings.
How deposits average into qualifying income for DTI.
Self-employment history expectations for Non-QM.
Full program hub with guidelines and Get Pre-Approved CTAs.
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Yes — many self-employed borrowers with seasonal cash flow qualify when 12 or 24 consecutive months of statements show a usable average. Lenders look at the full lookback, not a single peak month. Guidelines vary by investor.
Slow months lower the average, but they do not automatically disqualify you. A longer 24-month lookback can smooth peaks and valleys. Large unexplained gaps or missing statements are the bigger problem.
Not always. Applying mid-cycle can still work if the trailing 12–24 months average supports the payment. Waiting may help if you just started or recently expanded — we model both timelines.
Usually not on bank statement Non-QM. Deposit averages replace tax-return income. Consistency and consecutive statements matter more than whether revenue is evenly spread across the year.
Ryan & Steve will compare 12- and 24-month deposit averages so you know if your seasonal pattern supports pre-approval now.
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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