Bank Statement Loans

Jack and Alyssa were successful business owners in Denver, Colorado. They had spent years building a thriving graphic design company that served major marketing and advertising firms across the country. Like many entrepreneurs, they reinvested in their business, took smart financial risks, and worked closely with their CPA to maximize legitimate tax deductions.

There was just one problem. Those tax-saving strategies made their taxable income appear much lower than their actual earnings. When they applied for a traditional mortgage, they were told they didn't qualify.

"Our business is successful. Why does our tax return make it look like we can't afford a home?" Jack wondered.

Fortunately, Alyssa's sister in Overland Park, Kansas, had recently worked with Jim Yarrington, Senior Loan Officer at First State Bank, and encouraged them to give him a call. Jack's first question was simple:

"Can you even help us? We live in Colorado."

Jim's answer was easy.

"Absolutely. I lend in all 50 states."

More importantly, Jim understood that tax returns don't always tell the full story for self-employed borrowers. Instead of focusing solely on taxable income, he reviewed Jack and Alyssa's bank statement deposits and overall cash flow. The solution was a Bank Statement Loan. Not long afterward, Jack received the call every homebuyer hopes for:

"You're approved. You can start house hunting."

During their next consultation, Jim walked them through their financing options and showed them they actually qualified for more home than they expected. Today, Jack and Alyssa—and their two children—are happily settled into their new home in a Denver suburb.

Their journey went from the disappointment of being denied to the excitement of becoming homeowners, all because they found a lender who understood self-employed borrowers. The right mortgage matters. The right guide matters even more. For Jack and Alyssa, that guide was Jim Yarrington.