Bank Statement / No-Doc in Washington DC

Federal-adjacent self-employed workers scattered across the District, Maryland and Virginia: consultants, cleared government contractors, and lobbying or association staff, plus a meaningful share of the people who left federal payroll since January 2025. Metro federal employment fell from 375,800 jobs in January 2025 to 313,300 in June 2026, a drop of 62,500 jobs, or 16.6 percent (375,800 minus 313,300 equals 62,500; 62,500 divided by 375,800 equals 0.166), and many of those workers moved into 1099 or consulting work. No count of self-employed or 1099 workers in this metro has been verified, so we don't quote one: this is a real, current population, not a statistic. A bank statement loan reads what actually moved through your accounts over 12 to 24 months instead of a return built around deductions.

Not on its own. This metro's federal contracting and professional-services economy, concentrated along Northern Virginia's Route 267 and I-395 corridors but reaching consultants and contractors on the Maryland and District sides too, genuinely produces milestone-driven deposits rather than a level monthly draw. A conventional underwriter wants a flat, steady income trend on a return; a bank statement file instead looks at 12 to 24 months of actual deposits, lumps included. This is business-purpose lending on investment property, and every structure is set in underwriting.

Talk to us before you assume no. We underwrite using 12 to 24 months of bank statements, or structure a no-doc loan that leans on the property and your reserves instead of your income history. Federal payroll in this metro has fallen by roughly a sixth since January 2025, and where those workers landed afterward has not been tracked in a way we can quote, so we don't publish a number, but a short 1099 history right after a federal separation is a pattern we see, not an exception.

Yes, and the jurisdiction is the reason. In the District, a loan to a natural person, even on a pure rental, falls inside DC's foreclosure mediation program under DC Code 42-815.01, because a 2013 amendment removed the old owner-occupancy language; the same loan to an LLC sits outside it, and a District LLC is generally taxed at the entity level under DC's Unincorporated Business Franchise Tax, 8.25 percent of DC gross receipts with a $250 minimum once gross receipts pass $12,000. In Virginia, the residential mortgage loan definition at VA Code 6.2-1600 only reaches a loan made to an individual, so a loan to an LLC on an Arlington, Alexandria or Fairfax rental falls outside it on that ground alone. Maryland's own business usury carve-out at Commercial Law 12-103(e) applies without a rate cap to a commercial loan over $75,000 secured by residential real property, regardless of entity. We can close in personal name or LLC; which one fits your deal is worth a conversation with counsel or a CPA licensed in that jurisdiction before you pick.

Probably not, and it is worth saying so. If the income you want to qualify on is the property's rent itself, our DSCR rental loan qualifies on the rent, not your personal bank deposits. A metro rental also carries its own rules that a rent-based file has to account for: the District caps a rent increase at 4.1 percent for Rent Control Year 2026, Montgomery County caps it at 5.2 percent for July 2026 through June 2027, and Arlington, Alexandria and Fairfax carry no cap at all. None of that touches a bank statement application, which reads your deposits, not your rent roll. Bank statement loans are built for the case where the qualifying income comes from a business or contract work, not a rent roll.

Not for how we qualify your income, but it matters for everything else about the deal. We read the same 12 to 24 months of bank statements or structure the same no-doc option no matter which of those jurisdictions the property sits in. What changes across them is the law layered on top: the District carries rent control and TOPA, Montgomery County carries its own rent stabilization law for units 23 years or older, Prince George's County (Hyattsville) carries the metro's highest all-in property tax stack, and Northern Virginia carries none of the District's rent or tenant-purchase rules. Your income qualification travels across all of it; the legal structure of the loan and the property does not.

Credit starts at 640, and the down payment starts at 20%. On a $500,000 metro investment purchase that is $100,000 down (500,000 x 20% = 100,000), with income read from 12 to 24 months of bank statements or, on a no-doc structure, from the property and your reserves instead. That qualification method does not change whether the property sits in the District, Montgomery County, Prince George's County or Northern Virginia. Subject to underwriting.

$100K to $3M. That band covers most of the investment property we see across the District, the Maryland suburbs and Northern Virginia, on a short-term or 30-year term depending on the plan for the asset. It is investment and business-purpose lending only. If your deal sits outside the band, talk to us and we will point you at the right structure. Subject to underwriting.