Question 1

Who in Sherman actually qualifies on bank statements instead of tax returns?

Accepted Answer

Trades and construction operators building the county's housing and fab supply base. Grayson County permitted 1,184 single-family homes in 2025, and Sherman alone accounted for 634 of them, on top of the crews working the Texas Instruments and GlobiTech buildouts. Contractors, dirt work, HVAC, roofing and hauling businesses serving that volume typically write off enough on paper to understate real cash flow on a tax return, which is exactly what a bank statement loan is built to fix.

Question 2

Is there Grayson County data on how many investors here are self-employed?

Accepted Answer

No county-level self-employment figure was sourced for this file. We do not publish a local statistic we cannot trace to a source. The program still fits the trades and small-business income pattern documented in section 1: heavy construction activity around two long-horizon semiconductor projects and a steady residential permit pace, both of which typically produce 1099 and business-owner income rather than W-2 income.

Question 3

Does Pottsboro's Lake Texoma tourism trade fit a bank statement loan?

Accepted Answer

It can. Pottsboro and the western Grayson County lane around Lake Texoma support seasonal, cash-cycle small businesses tied to lake tourism. A seasonal operator's tax return often compresses or smooths income in ways that do not reflect actual deposits, which is the borrower profile this program qualifies on statement history rather than a filed return.

Question 4

Does the trades income profile here show up anywhere in the data?

Accepted Answer

At the state level, yes: construction is a bigger share of Texas self-employment than it is nationally. Census Nonemployer Statistics for 2023 counted 378,631 construction-sector nonemployer businesses in Texas, 12.24% of all Texas nonemployers against a 9.59% national share. Read that as scale, not acceleration: Texas construction nonemployers grew 8.1% from 2019 to 2023, slower than the 16.4% growth across all Texas nonemployers. That is a statewide figure, not a Grayson County one. Either way, the program qualifies you in a personal name or an LLC on non-owner-occupied investment property.

Question 5

Does a bank statement loan work on a Sherman or Denison rental with the county's tax and MUD variation?

Accepted Answer

Yes, the income documentation is separate from the carry math. Grayson County's investor tax stacks run from about 1.93 per $100 in Pottsboro to about 2.32 per $100 in Denison, and a Van Alstyne parcel inside a municipal utility district can add roughly another full point of value on top of that. A bank statement loan changes how you prove income, not how the property's carrying cost is underwritten, so those local stacks still factor into the deal the same way they would with any other program.

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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