Question 1

Who in the Raleigh area actually needs a bank statement loan instead of a conventional one?

Accepted Answer

Mostly the contractors and consultants who cycle through Research Triangle Park and the metro's institutional employers. RTP alone is 7,000 acres, more than 300 companies, and about 55,000 workers plus roughly 10,000 contractors, and the wider Raleigh-Cary MSA carries 783,900 nonfarm payroll jobs anchored by state government (55,300) and health care (96,400). A lot of that workforce files 1099 or LLC income rather than a W-2, and a return built to minimize what's owed doesn't read the same to a conventional underwriter as it does to your accountant.

Question 2

My tax return is heavy on write-offs. Does that count against me here?

Accepted Answer

No, because we qualify on deposits instead of taxable income. The deductions that lower what you owe the IRS don't lower what we can lend against. That matters in North Carolina, where the flat individual income tax is scheduled to fall to 3.99% for 2026, so minimizing taxable income is already part of a self-employed Raleigh borrower's year-end arithmetic, not just a mortgage-qualifying problem.

Question 3

What should I budget for property taxes on a Raleigh investment property?

Accepted Answer

Plan on about $0.9091 per $100 of assessed value for tax year 2026, Wake County's $0.5371 combined with the City of Raleigh's $0.3720, or roughly $3,964 a year on a $436,000 house. Wake reappraises on a cycle rather than annually. Its last revaluation raised residential values 53%, and the next lands 2027-01-01, so a deposit-qualified purchase this year should be underwritten to a tax bill that resets, not one that stays flat. If the rent itself is what closes the deal rather than your deposit history, our DSCR rental loan qualifies on the property's income directly.

Question 4

Is Raleigh's job market steady enough to count on for a self-employed applicant's deposit history?

Accepted Answer

The underlying labor market is deep and currently tight. The Raleigh-Cary MSA carried 783,900 nonfarm payroll jobs in May 2026, and unemployment ran 3.1% in June 2026, below North Carolina's 3.6% statewide rate, and Wake County has added about 66 residents a day since 2020. That's the demand base behind the contracting and consulting income a bank statement file is built to read, not a guarantee for any individual business.

Question 5

I run my business as an LLC. Does North Carolina add extra tax drag on top of qualifying?

Accepted Answer

Not on the entity itself, if it's taxed as a partnership or disregarded entity. North Carolina's franchise tax applies to corporations; an LLC taxed as a partnership or disregarded entity, the structure most investors use, doesn't pay it. The state's corporate income tax is also phasing toward 0% by 2030. None of that changes our underwriting, but it's real context if you're deciding how to hold the property. Talk to your CPA about the right structure for your file.

Question 6

What is a bank statement loan, and how is it different from a no-doc loan?

Accepted Answer

A bank statement loan qualifies you on 12 to 24 months of business or personal bank deposits instead of tax returns, which suits self-employed borrowers whose returns understate their real income. A no-doc (or no-ratio) loan goes further and leans on the property and your reserves rather than any income calculation. Both are business-purpose loans for investment property, not consumer mortgages.

Question 7

Do I really not need tax returns or W-2s?

Accepted Answer

Correct. We do not ask for tax returns, W-2s, or pay stubs on these programs. We verify the deal, your credit, and either your bank-statement cash flow or your reserves, depending on the structure. It is built so write-offs and a complex return do not work against a strong borrower.

Question 8

Who is a bank statement or no-doc loan best for?

Accepted Answer

Self-employed investors, business owners, and 1099 or commission earners whose write-offs shrink their taxable income. If your bank deposits tell a stronger story than your tax return, this is usually the right fit.

Question 9

What credit score and down payment do I need?

Accepted Answer

We lend from a credit score of 640, with the best terms going to stronger credit, and a down payment starting around 20%. Across the market these programs often want 660 or higher and 20% to 30% down. Stronger credit and more equity improve both your rate and your leverage.

Question 10

What rates and terms can I expect?

Accepted Answer

Pricing is higher than a fully documented conventional loan because the lender takes on more uncertainty, and it varies with your credit, leverage, and the structure. We offer both short-term and long-term options, so we match the term to whether you are flipping, bridging, or holding.

Question 11

Can I close in an LLC?

Accepted Answer

Yes. These are business-purpose loans and routinely close in an LLC or other entity. Holding investment property in an entity is standard and often preferred.

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