Question 1

Who in Frisco actually uses a bank statement loan instead of a W-2 file?

Accepted Answer

Self-employed business owners, consultants, and contractors whose returns don't show their real cash flow. Collin County's median household income is $124,920, well above the $78,910 in Dallas County next door, and the county's labor force runs 708,372 with unemployment at 4.6% as of July 2026. Along the Dallas North Tollway and the Legacy corridor that income base runs heavy on consultants, builders, and medical and IT contractors, the kind of borrower whose Schedule C understates what the business brings in. We qualify on 12 to 24 months of bank statements instead of a tax return, or structure a no-doc loan against the property itself.

Question 2

I host short-term rentals in Frisco and that's most of my income. Does that count as deposits for a bank statement loan?

Accepted Answer

It can, if it shows up as deposits in your business account. Frisco requires a short-term rental permit for any dwelling rented under 30 days, with a $300 application fee and a $300 annual renewal under City Ordinance No. 2025-09-48, and the permit number has to appear in the listing. An operator running a compliant STR business through an LLC has real, bankable deposits rather than a W-2, and that is exactly the file this program is built for. We review 12 to 24 months of statements rather than a tax return that may not reflect the platform's payout schedule. Bring your permit number and your deposit history and we'll tell you what it supports.

Question 3

My business is technically in Celina or Prosper, not Frisco. Does the higher tax stack there change what a bank statement loan can support?

Accepted Answer

It changes your carry, not your documentation. A Frisco property inside Frisco ISD runs an investor tax stack of about 1.675480 per $100 of assessed value; the same size property in Celina inside Celina ISD runs about 2.015864, and either can carry a MUD assessment up to 1.20 on top, a difference of roughly $2,000 a year on a $600,000 property. None of that changes how we document your income; deposits or the asset qualify you the same way in either city. It does change how much the property can carry once taxes and any MUD or PID assessment are in the payment, so send us the parcel's full district list, not just the city.

Question 4

A PID showed up as a zero on the tax rate table for a property I'm buying with a no-doc loan. Does that matter?

Accepted Answer

Yes, and it's easy to miss. Collin County lists 71 Public Improvement District entries, and every one prints a rate of 0.000000 on the county's own tax rate table, because a PID is a separate assessment set by the district rather than a tax rate. It doesn't show up until you pull the closing disclosure and the assessment roll. On a no-doc file, where we are already leaning on the asset rather than a full income package, an unbudgeted PID assessment is the kind of surprise that turns a good deal into a tight one. Pull the parcel's assessment history before you lock a number, especially in the northern growth cities.

Question 5

Is Collin County even a market where deposit-based qualifying makes sense, given home values are falling?

Accepted Answer

Yes, because bank statement underwriting looks at your cash flow, not the market's direction. Frisco's mid-tier home value was $649,173 in July 2026, down 4.6% year over year, and every city in the county fell over the same period. That is a reason to underwrite conservatively on leverage, not a reason a self-employed borrower's real income stops counting. We qualify on 12 to 24 months of deposits or the asset itself, with down payments starting at 20% and credit starting at 640, so the file leans on your cash flow and your equity rather than on the market moving in your favor.

Bank Statement / No-Doc in Frisco

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