Fontenot MortgageOdette Fontenot · Mortgage broker
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The loans

The maths

Odette

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12 or 24 months of deposits

Bank statement loans

Your deposits are the income document. No tax returns, no W-2s, no employer to call.

A desk with receipts, printed statements and a pen.
01Who this is for
  • Sole proprietors and single-member LLCs who write off aggressively and show little net profit
  • Partners and S-corp owners with 25% or more of the business
  • Anyone whose last two tax years look wildly different from each other
  • 1099 contractors whose gross receipts never touch a payroll system
02What it needs from you
  • 12 or 24 consecutive months of business bank statements, all pages
  • A business licence, CPA letter or state registration proving the business exists
  • A statement of your ownership percentage
  • Photo ID and the usual asset statements for the down payment and reserves
  • No personal or business tax returns, and no P&L unless you choose that route instead
03What it costs you — the honest part
  • The rate is usually higher than a conventional loan — this is a non-QM product and it is priced like one.
  • Expect a larger down payment. Ten percent is common; twenty buys a better rate.
  • A lender-set expense factor is subtracted from your deposits before anything qualifies. That factor is the whole negotiation.
  • Transfers between your own accounts are stripped out. So are refunds, loans and one-off asset sales.
04How a file like this moves

  1. Send twelve months of statements

    All pages, business account. I add up total deposits before anyone talks about rate.

  2. We strip the noise

    Transfers between your own accounts, refunds, a truck you sold — none of it is income and all of it gets removed.

  3. Apply the expense factor

    Whatever is left is multiplied by your ownership share and then reduced by the lender factor. That number is your qualifying income.

  4. Shop the factor, not just the rate

    Two lenders can price the same file identically and differ by fifteen points of expense factor. That gap is worth more than an eighth of rate.

Ask Odette

Tell me what you are working with

Every field is optional except a name and one way to reach you. I would rather have four honest sentences than a completed form.

One of email or telephone is enough.

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The next step

One person reads this. That person is me.

Tell me roughly how you get paid and what you are trying to buy. No documents, no application, no credit pull to have the first conversation.

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