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Program 06
Bank Statement / No-Doc in Seattle
Seattle bank statement loans, built for self-employed investors.
Built for self-employed investors whose tax returns don't tell the whole story. We qualify on bank-statement cash flow or on the asset itself, with no W-2s and no tax returns, so write-offs don't work against a strong borrower. Seattle's contractor and self-employed tech economy often shows write-off-heavy returns that don't reflect real cash flow. Business-purpose only, and every structure is set in underwriting.
0
tax returns
No-doc
options
Self-employed
friendly
$3M
max loan
Typical figures, subject to underwriting and market conditions. Not a commitment to lend.
How it works
We can underwrite using 12 to 24 months of bank statements, or structure a no-doc loan that leans on the property and your reserves. It fits business owners, 1099 earners, and investors who don't fit a conventional income box.
Who it's for
Self-employed investors
Business and 1099 income
Investors with heavy write-offs
Personal name or LLC
Typical terms
Loan amount$100K to $3M
Income docsBank statements or none
PropertyInvestment / business-purpose
TermShort-term or 30-yr
CreditFrom 640
Down paymentFrom 20%
*Typical terms, subject to underwriting and market conditions.
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Local FAQ
Bank Statement / No-Doc in Seattle, answered.
Who in Seattle actually uses a bank statement loan instead of a conventional one?
Contractors and trades building under the city's new upzone, plus the self-employed tech contractors clustered around Bellevue and Redmond. Seattle now allows at least four units by right on every Neighborhood Residential lot, effective January 21, 2026 under Council Bill 120993, which is turning small builders and trades operators into busier, more project-based earners whose deposits move in bursts rather than a flat W-2 line. On the tech side, Amazon's Seattle headcount has fallen to roughly 49,000 while its Bellevue headcount has grown to roughly 15,000, and Microsoft sits in Redmond: that Eastside shift feeds a population of self-employed 1099 consultants and contractors serving those campuses whose returns often show heavy write-offs. A bank statement loan reads what actually moved through your accounts over 12 to 24 months instead of a return built to minimize taxable income.
I hear Washington has no state income tax. Does that change what documentation I need for a bank statement loan?
It means there is no Washington state income tax return to lean on either way, which is exactly why a bank statement loan is built around your deposits instead. Washington has no personal or corporate income tax on income earned today, so a self-employed borrower here files a federal return A separate 9.9% tax on individual income above $1,000,000, which expressly reaches rental and pass-through income, is scheduled for tax years beginning 2028 and is under legal challenge, so it does not touch a file you write today. and, if the business sits inside Seattle, may also file the city's business and occupation tax on gross receipts rather than net income. Neither document shows the same picture as a bank statement history. We read 12 to 24 months of actual deposits, so a return engineered to minimize taxable income, or a B&O filing based on gross receipts, doesn't work against you either way.
I run a small trades or design business in Seattle and the city's B&O tax threshold just changed. Does that affect my loan file?
It changes what your books look like, not what we ask for. Effective January 1, 2026, Seattle raised its business and occupation tax threshold from $100,000 to $2 million in gross receipts, with a $2 million standard deduction above that line, under Seattle Shield Proposition 2 (Ordinances 127259 and 127267). Most small operators now fall entirely under the city's gross-receipts tax, which means their books track revenue rather than the itemized, write-off-heavy picture a federal return shows. A bank statement loan already looks past that picture to your actual deposits, so the B&O change doesn't add a documentation step. It's useful context if your CPA restructures your filings around the new threshold.
The upzone means more small infill projects. Will lumpy, project-based income from that work hurt my file?
Not on its own. Since January 21, 2026, Seattle allows at least four units by right on most residential lots, and a stacked-flats bonus the city says can support nine units on a typical lot, under Council Bill 120993. That has real builders, subcontractors and trades doing more small-lot, project-based work, which tends to produce deposits that land in bursts around a closing or a draw rather than a flat monthly paycheck. A conventional underwriter wants a steady two-year income trend on a tax return; a bank statement file instead looks at what actually moved through your accounts over 12 to 24 months, seasonality and all. This is business-purpose lending for investment property, and every structure is set in underwriting.
My income is rent from a Seattle-area property, not a business. Is bank statement still the right program?
Possibly not, and it is worth saying up front. If the income you want to qualify on is the rental itself, our DSCR rental loan qualifies on the property's rent rather than your bank deposits or tax returns. In King County that program tends to pencil best in the South King corridor: Renton, Kent, Auburn, Federal Way and Burien, where gross rental yields run higher than in Seattle or Bellevue. A bank statement loan is built for the case where your qualifying income comes from a business or 1099 work, not a rent roll.
How does closing actually work in Seattle, and who funds the loan?
We originate the file, and closing runs through escrow, not an attorney's office. Washington closes real estate transactions through licensed escrow agents under the Escrow Agent Registration Act, with a Limited Practice Officer preparing the closing documents rather than an attorney, which is different from many East Coast states. That process is the same whether the property sits in Seattle proper or one of the King County suburbs, and it doesn't change the timeline you'd expect from a business-purpose lender.
What credit score do I need for a Seattle bank statement loan?
Credit starts at 640 on this program. The income side is what we relax, not the credit side: we read 12 to 24 months of deposits instead of tax returns, so write-offs do not work against you. There is no hard credit pull to start, and a score near the line usually means lower leverage rather than a decline. For a Seattle contractor or 1099 consultant whose returns are built to minimize taxable income, the deposit history is the part that decides the file. Subject to underwriting.
How much do I need to put down on a Seattle bank statement loan?
From 20% of the purchase. On a $600,000 King County investment purchase that is $120,000 from you and $480,000 financed (600,000 x 20% = 120,000), before closing costs. A lumpier deposit history or a tighter file can call for more down rather than a decline, which is the usual trade on this program. Subject to underwriting.
What is the smallest bank statement loan you will write in Seattle?
$100,000, and the program runs up to $3M. Terms run short-term or 30-year, and it is investment and business-purpose only, so it is not the program for a house you plan to live in. Most Seattle-area purchases sit inside that range, but an Eastside price point can push the ceiling, so send us the address before you go under contract. Subject to underwriting.
More Bank Statement / No-Doc questions, answered on the program page
Resources
Guides for Bank Statement / No-Doc
Rental / DSCR · 5 min read
What Is a DSCR Loan? How Investors Qualify on Rental Income
Read the guide Rental / DSCR · 5 min read
DSCR vs Conventional Loan: Which Is Better for Investment Property?
Read the guide Bank Statement / No-Doc · 5 min read
Bank Statement and No-Doc Loans for Self-Employed Investors
Read the guide Rental / DSCR · 5 min read
How to Finance a Rental Property in an LLC
Read the guide Compare
Bank Statement / No-Doc vs. other options
More in Seattle
Other programs in Seattle
Fix and FlipUp to 90% / 100% rehabRental / DSCR30-yr fixed, DSCR from 0.75Ground-Up ConstructionUp to 70% LTV, most statesCRE BridgeUp to $10M, 24-36 moTransactional FundingSame-day double-close capitalConventional InvestmentNon-owner-occupied investmentPortfolio LoansMultiple properties, one loanCRE PermanentLong-term agency & permSBA Financing7(a) & 504 placement
About the local figures on this page
Local rules move. Every tax rate, fee, ordinance and market figure here comes from a primary source and carries the date we read it, and we correct them as the rules change. Where a number is mid-change or we could not verify it, we say so rather than guess. Before you commit a budget, confirm anything that drives it with the city or county, and talk to your attorney or CPA on questions of law or tax.
Published by USA Mortgage Funding, LLC, NMLS #152588. Researched from primary sources by our team, drafted with AI assistance, and every figure checked against its source before publishing. Where an answer rests on a public record, that record is linked under it. Figures read on 2026-08-15.
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