No Doc & Stated Income Loans for Investors
Self-employed? Multiple write-offs on your tax returns? Complex income that doesn’t fit a W-2 box? We have four no-documentation and low-doc loan programs designed for real estate investors who don’t qualify the conventional way — even if they’re highly profitable.
No-Doc Program Highlights
- No tax returns, no W-2s, no pay stubs required
- Four program types — we find the one that fits your situation
- Up to 75–80% LTV on investment properties
- Up to 90% CLTV on hard money programs
- 620+ credit score on most programs (580+ on hard money)
- Residential and commercial properties
- Individuals and LLCs eligible
- Texas and nationwide (45 states)
Four Ways to Qualify Without Tax Returns
1. DSCR Loans
The property qualifies itself. If rental income ≥ monthly payment, you’re in. No personal income docs at all. Best for stabilized rentals.
2. Bank Statement Loans
12–24 months of bank deposits replace your tax returns. We average your deposits to calculate qualifying income. Best for self-employed borrowers with strong revenue.
3. Asset Depletion
Large liquid assets (savings, investment accounts, retirement) create a calculated monthly “income” without requiring withdrawals. Best for retirees or high-net-worth investors.
4. Hard Money (Pure Asset-Based)
Loan is based on property value and equity only. Fastest close, highest rate, most flexible on credit and income. Best for short-term needs.
Why Investors Use No-Doc Loans
Successful real estate investors often show little taxable income because of depreciation, cost segregation, business deductions, and complex entity structures. Tax returns can show a $40,000 loss on a business that generates $300,000 in real cash flow. Banks penalize this. We look at how you actually operate — and match you to a program accordingly.
Program Comparison
| Program | What Qualifies You | Max LTV | Rate Range | Best For |
|---|---|---|---|---|
| DSCR | Property rental income | 80% | 7.5% – 10% | Stabilized rentals |
| Bank Statement | 12–24 mo deposit average | 75% | 8% – 11% | Self-employed, high revenue |
| Asset Depletion | Liquid assets / 360 | 75% | 7.5% – 10% | Retirees, HNW investors |
| Hard Money | Property value / equity | 70–90% CLTV | 9% – 13% | Short-term, distressed, fast close |
Bank Statement Loans: How They Work
If you’re self-employed and your tax returns don’t reflect your real income, bank statement loans use your deposit history instead. Here’s how the qualification works:
- Business bank statements (24 months): We average monthly deposits and apply an expense factor (typically 50% for sole proprietors, varying by industry) to arrive at qualifying income
- Personal bank statements (12–24 months): All deposits are counted at 100% — useful for W-2 earners who supplement income through other means
- Multiple accounts: We can combine multiple business accounts to get a complete picture
- Seasonal businesses: We use 24-month averages to smooth out seasonal fluctuations
Example: Your business deposits average $28,000/month over 24 months. At a 50% expense ratio, that’s $14,000/month qualifying income. At a 43% DTI, you can qualify for a payment up to $6,020/month — enough for a $700,000+ loan at current rates.
Asset Depletion: How It Works
Asset depletion lets high-net-worth borrowers qualify using their balance sheet rather than income. The calculation:
Total eligible assets ÷ 360 months = Monthly qualifying income
Example: $2,000,000 in investment accounts ÷ 360 = $5,556/month qualifying income. You don’t have to withdraw anything — the assets just need to be documented and liquid (or semi-liquid). Retirement accounts are typically discounted 30–40% since there are penalties for early withdrawal.
Who These Programs Work Best For
- Self-employed borrowers — business owners, contractors, freelancers who write off most expenses
- Real estate investors — large depreciation deductions make taxable income appear negative
- Retirees — living off investment accounts, no W-2 income
- Portfolio landlords — 10+ properties who’ve hit conventional program limits
- Foreign nationals — no U.S. tax history or SSN
- High earners with complex returns — K-1 income, passive losses, multiple entities
No-Doc Loan FAQ
If it’s “no doc,” what DO you verify?
No-doc means no income documentation — but we still verify the things that actually predict loan performance: credit score and history, property value (via appraisal), equity/down payment, and — on DSCR programs — the rental income relative to the payment. We’re not lending blind; we’re just qualifying differently than a W-2 lender.
Can I use a no-doc loan for a purchase?
Yes — DSCR and bank statement loans are available for purchases and refinances. Hard money is also available for acquisitions, especially for time-sensitive or distressed deals. Asset depletion is more commonly used for refinances but is available on purchases with sufficient assets.
What’s the minimum credit score?
DSCR and bank statement programs generally require a 620 minimum FICO. Better pricing is available at 680+. Hard money programs go down to 580 and on some programs don’t require a credit pull at all for experienced investors with significant equity.
Can I get a no-doc loan in an LLC?
Yes — we lend to LLCs, LPs, and corporations on DSCR, hard money, and most investor programs. Entity lending typically requires a personal guarantee from a member or managing partner. DSCR loans in LLCs are one of the most common structures we fund.
Will my rate be higher on a no-doc loan?
Generally yes — no-doc programs carry a slight rate premium over conventional full-doc loans because of the reduced documentation. The difference is typically 0.5–2.0% depending on the program and your credit profile. For most investors, this is worth it because conventional loans aren’t an option — the comparison isn’t “no-doc vs. full-doc,” it’s “no-doc vs. no loan at all.”
Ready to explore your options? Get a free no-doc loan quote — we match you to the right program based on your deal, not your tax return.