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 credit score do I need for a bank statement loan in Raleigh?

Accepted Answer

640 is the starting point. We pull credit and this program does carry a floor, unlike our asset-based loans. What it does not carry is a tax-return test: we read bank statements, or no income documents at all, so the write-offs that lower your taxable income do not lower what we can lend against. For the 1099 contractors and consultants cycling through Research Triangle Park, that is usually the difference between a decline and an approval. Subject to underwriting.

Question 7

How much do I need to put down on a Raleigh bank statement loan?

Accepted Answer

From 20%. On a $436,000 Raleigh house, roughly the city's median home value, that is $348,800 financed and $87,200 from you (436,000 x 80% = 348,800), plus closing costs and the first year's tax escrow on top. Size that escrow at about $0.9091 per $100 of assessed value for tax year 2026, roughly $3,964 a year on that house, and remember Wake County resets assessed values effective 2027-01-01. Subject to underwriting.

Question 8

Is there a minimum loan size for a bank statement loan in Raleigh?

Accepted Answer

$100,000, running up to $3 million. That range covers most of what a self-employed Raleigh investor buys, from a single eastern Wake rental to a larger Triangle hold. Terms run short-term or 30-year, and the property has to be investment or business-purpose, not the house you live in. Subject to underwriting.

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