Nevada Bank Statement Loans Made Simple

Nevada bank statement loans allow self-employed borrowers and retirees to get a mortgage with bank statements rather than tax returns. This offers an alternative path to homeownership for those who don’t qualify for a traditional mortgage.

There are nearly 300,000 self-employed individuals in Nevada and they make up a significant part of the workforce. This notable percentage underscores the critical contribution of self-employed professionals and small business owners to Nevada’s economic landscape.

Bank statement loans in Nevada can help these self-employed individuals achieve their home buying goals in the state.

Areas We Serve

Griffin Funding offers bank statement loans in Nevada throughout the entire state, including:

The above list is not exhaustive. Whether you’re looking for bank statement loans in Las Vegas or Elko, our team can help guide you in the right direction. Our team works hard to provide white-glove service to anyone looking for a new home loan.

What Are Nevada Bank Statement Loans?

Nevada bank statement loans are non-qualified mortgage loans that allow borrowers to show their income with their bank statements rather than having to present documentation from their taxes or employer verified information. Bank statement mortgage lenders in Nevada issue these loans based on personal information and bank statement deposits.

Key features of Nevada bank statement loans include:

• Qualify using 12-24 months of personal or business bank statements
• Ideal for self-employed borrowers
• No tax returns or pay stubs required
• Income is calculated based on monthly deposits

A bank statement mortgage in Nevada is typically well suited for self-employed individuals, such as:

• Business owners
• Consultants
• Contractors
• Freelancers
• Content creators
• Retirees
• Realtors
• Gig economy workers

Beyond purchase loans, we also offer bank statement loans for refinancing and tapping into your home equity. If you’re self-employed and looking to refinance your current mortgage or access your home’s equity, we offer rate-and-term and cash-out refinance options, as well as bank statement home equity loans.

Types of Bank Statement Loans Available in Nevada

Griffin Funding currently offers bank statement loans in Nevada for both individuals and businesses.

• Personal bank statement loans: Qualify with 12 or 24 months of bank statements; count 100 percent of deposits as income.
• Business bank statement loans: Qualify with 12 or 24 months of bank statements; count 50 percent of the deposits as income

As a business owner applying for a bank statement loan, the lender will also request to see any expenses you incur as a result of owning a business, but it’s important to know you will not be penalized for expenses you have written off on your tax returns. To qualify for a bank statement loan in NV, you need to have been a business owner or self-employed for at least 2 years.

Bank Statement Loan Benefits

Here are some of the key benefits of getting a bank statement loan in Nevada:

• Qualify with bank statements: You don’t need tax returns or pay stubs to qualify.
• Flexible credit requirements: Qualify with a credit score as low as 620 and a DTI ratio as high as 50%.
• Purchase a variety of property types: You can use a bank statement loan to buy a primary residence, second home, vacation home, or investment property.
• Streamlined approval process: As an experienced bank statement loan lender, Griffin Funding offers a fast and easy approval process.
• Down payments as low as 10%: Qualified borrowers can get a bank statement loan with as little as 10% down. Note that you need a minimum credit score of 680 to qualify for a 10% down payment.

Bank Statement Loan Qualification Requirements in Nevada

To qualify for a bank statement loan in Nevada, you’ll have to meet the following requirements:

Qualification criteria:

• Be self-employed or a business owner for at least 2 years.
• Your credit score should be 620 or above to qualify.
• Take out a loan between $100,000 and $20,000,000.
• With a credit score of 660 or higher you can put as little as 10% down, which is a 90% LTV.
• You must have 3-6 months of PITI reserves in the bank for loans under $1.5 million and 12 months for loan amounts over $3 million.

Not sure if a bank statement loan in Nevada is right for you? We offer other self-employed non-QM loan options as well, including:

• Asset-based loans
• 1099 loans
• P&L loans
• 6-month SOFR loans
• DSCR loans

How to Get a Bank Statement Loan in Nevada

Our lending team has created a clear-cut process to help you get the home financing you need. Here’s what to expect:

1. Initial discovery meeting: Jump on a quick call with one of our loan experts to go over your situation and figure out the best loan options for you.
2. Get your paperwork together: Pull together your bank statements from the last year or two, plus basic documents like your ID and proof of assets. If we need anything else, we’ll let you know.
3. Get pre-approved: Submit an application online or over the phone. We’ll review your documents and issue a pre-approval letter stating the amount you qualify for based on your regular bank deposits.
4. House hunt: Hire a realtor and begin the house hunting process. Once you have an offer accepted on a house, you can move forward with the next step.
5. Complete the application process: Once your offer is accepted, you can complete the mortgage application process.
6. Underwriting: During the underwriting process, we work behind the scenes to verify your income and order an appraisal on the home to make sure its current market value aligns with the loan amount. You’ll work with a loan processor to make sure we have all the necessary documentation from you to move forward.
7. Approval and closing: Once your home loan is approved, we’ll coordinate with all parties and give you the clear to close. From there, we can schedule your closing date, where you’ll sign loan documents and receive the keys to your new home.

Wondering how much you might be able to borrow? Try our bank statement loan calculator.

If you’re ready to take the next step, contact us today to learn about your options, explore today’s bank statement loan rates, or download the Griffin Gold app to streamline the application process and connect directly with your loan officer.

Apply for a Nevada Bank Statement Loan Today

Ready to buy a home? Let our loan specialists help you qualify for a mortgage today.

Our team of experts specializes in self-employed home loans like bank statement mortgages, asset-based loans, and P&L loans for business owners, and we can help you find the right loan program, whether it’s a bank statement loan in Nevada or one of our other mortgage options.

We provide white glove, five- star customer service throughout the lending process with the goal of providing more business owners and self-employed individuals with access to home loan options that suit them. To get started, you can connect with us online or call us at (855) 394-8288 for more information on our bank statement loans in Nevada.