Arizona realtors — bank statement loans that don't punish your write-offs
You wrote off mileage, MLS fees, marketing, transaction coordinators. Your tax return shows $45K net. Your bank deposits show $130K. Bank statement loans qualify you on the deposits.
Why standard mortgage programs hurt Realtors
Conventional and FHA mortgages use Schedule C net income. A successful Realtor running their business correctly aggressively expenses — vehicle, advertising, MLS, transaction coordinators, occupancy, professional development. Schedule C net often reflects $40-60K when gross is $130-180K.
Bank statement loans don't read Schedule C. They count deposits. Less tax-optimization punishment.
The math on a typical Arizona Realtor
| Income source | Standard mortgage | Bank statement loan |
|---|---|---|
| Gross commissions / deposits | $155K | $155K |
| Schedule C net | $58K | — |
| Qualifying income method | Schedule C net only | Deposits × 50% |
| Qualifying income | $58K | $77,500 |
| Max home affordable | ~$330K | ~$485K |
Documentation for the file
- 24 months of business banking statements (preferred over personal).
- Most recent 2 months of personal banking.
- Real estate license verification — active and in good standing.
- MLS sales activity report (some programs request).
- Credit report 680+ for best pricing.
- 12 months PITI in reserves preferred.
Common questions
Can I use personal bank statements?
Yes, but personal statements are not "use everything." Most investors apply ownership adjustments, transfer/refund/loan-proceeds exclusions, and program-specific haircuts. Business statements typically get a cleaner 50% expense factor for service businesses (higher for COGS-heavy industries). Personal vs business is a file-by-file conversation, not a 100%-vs-50% formula.
What if commissions are deposited into a brokerage trust account first?
Document the trust-to-personal transfer. Lender will trace it as the same income.
Does my brokerage's transaction summary count instead of bank statements?
Some programs allow it. Bank statements are more universal.
Will referral fees count?
Yes — they're commission income. As long as they hit the same banking pattern.
How Mike + Cornerstone help
Phoenix and Scottsdale Realtors are core to my self-employed mortgage book. We map the qualifying income lift you get from bank statement vs full doc, then pick whichever produces the most house for your money. Most Realtors find they qualify for 30-50% more home with this path.
Talk to Mike first Get pre-approved
No pressure, no commitment. Free 20-minute consult. Mike will look at your scenario and tell you straight whether this works for you.