How a Self-Employed Entrepreneur Bought a $1.2M Home with a No-Doc Jumbo Loan
- By Jim Blackburn
- on
Client Profile
- Name: Michelle L.
- Age: 44
- Profession: Business Consultant & Entrepreneur
- Location: Scottsdale, AZ
- Home Type: 5-bed luxury single-family home
- Purchase Price: $1,200,000
- Loan Type: Bank Statement Jumbo Loan
- Down Payment: 20% ($240,000)
- Credit Score: 728
The Challenge
Michelle had excellent credit and healthy business revenue, but like many entrepreneurs, her tax returns didn’t reflect her true income due to write-offs. She was relocating and needed to close quickly on a $1.2M property, but conventional lenders pushed back due to her adjusted gross income.
She needed a jumbo loan solution that understood self-employed borrowers.
The Strategy
We helped Michelle secure a jumbo mortgage using 12 months of bank statements, rather than W-2s or tax returns. Her average monthly deposits were strong enough to qualify her income easily.
Highlights of the loan structure:
- No tax returns required
- Interest-only option available for cash flow flexibility
- Closed in under 21 days with full pre-underwriting
- Locked in a competitive jumbo rate with no PMI
The Outcome
- Michelle closed on her $1.2M dream home with a 20% down payment
- She avoided the frustration of conventional underwriting
- Monthly payment fit her business cycle
- She retained over $100K in reserves and qualified for a future second home in Sedona using the same loan type
Quote from Michelle:
“My CPA makes sure I don’t overpay in taxes—but that shouldn’t block me from buying a home. This jumbo loan based on my deposits finally made sense.”
Ready to Take Your First Step?
Skip the guesswork. Take our quick Discovery Quiz to uncover your top financial priorities, so we can guide you toward the wealth-building strategies that fit your life.
- Takes just 5 minutes
- Tailored results based on your answers
- No credit check required
Need a Pre-Approval Letter—Fast?
Buying a home soon? Complete our short form and we’ll connect you with the best loan options for your target property and financial situation—fast.
- Only 2 minutes to complete
- Quick turnaround on pre-approval
- No credit score impact
Got a Few Questions First?
Related Posts
