Bank Statement Loans in Scottsdale, Arizona

Pillar Mortgage Group is a Scottsdale mortgage broker that places bank statement loans for self-employed buyers who qualify on 12 or 24 months of personal or business deposits instead of tax returns. Most borrowers put typically 10 to 20% down with credit around 620+, and the loan works for a primary home, second home or investment property.

Why Scottsdale self-employed buyers get stuck

Scottsdale is full of people who run their own show. Medical practices, agencies, real estate teams, contractors, hospitality and retail. The same write-offs that keep your tax bill down also shrink the income a traditional lender will count, and at Scottsdale prices that gap gets expensive fast.

A bank statement loan qualifies you on what your accounts actually show. We are based right here in Scottsdale, and as a broker we compare bank statement programs across lenders to find the one that fits how your business really earns. The full program is on our Arizona bank statement loans page.

How bank statement income is calculated

A traditional loan starts with the net income on your tax return. That is the number after every write-off, and for a lot of business owners it is a fraction of what the business really produces. A bank statement loan starts somewhere else: the deposits that actually hit your account.

The lender averages your qualifying deposits across the statement period. Business and personal accounts can both be used depending on the program, and an expense factor is usually applied to business accounts to account for overhead (Pillar Mortgage Group, Bank Statement Loans). Here is the math in plain terms.

Worked example (hypothetical numbers)

• Statement period: 24 months of business bank statements.
• Total qualifying deposits: $720,000.
• Monthly deposit average: $720,000 divided by 24 = $30,000 a month.
• Expense factor: 50 percent. This is an example only. The real factor depends on the lender, the program and your type of business.
• Qualifying monthly income: $30,000 times 50 percent = $15,000 a month.

That $15,000 is the income the lender uses to measure what you can afford. Compare it with the net figure on your tax return and you will see why so many Scottsdale owners land here after a bank told them no.

Scottsdale by the numbers

Every figure below is cited with its source and date. The Freddie Mac rate is the national conventional benchmark, not a bank statement loan quote. Bank statement pricing is set by the lender and your file.

For scale only: at the 7.32% benchmark on a 30 year term, principal and interest on the $851,746 typical Scottsdale home works out to about $4,681 a month with 20% down ($681,397 loan) and about $5,266 with 10% down ($766,571 loan). That is our math on the cited figures, not a quote. Taxes, insurance and HOA dues come on top, and a bank statement rate will differ from the benchmark.

Who it fits in Scottsdale

• Business owners. Scottsdale posted $47,864 in retail sales per resident (Census QuickFacts, Economic Census 2022). Shop, studio and restaurant owners who write off heavily often show far less on paper than their deposits prove.
• 1099 earners and solo operators. Maricopa County has 420,481 nonemployer businesses, meaning businesses with no paid employees (Census QuickFacts, Nonemployer Statistics 2024). Consultants, contractors and freelancers sit squarely in this group.
• Realtors and commission earners. With a typical home value of $851,746 (Zillow, data through September 30, 2026), Scottsdale agents earn on big tickets but on an uneven schedule. A 12 or 24 month deposit average turns those swings into one number.
• Move up and second home buyers. Scottsdale has a 67.0% owner occupied rate (Census QuickFacts, ACS 2020 to 2024), so many self-employed buyers already own and are moving up. Bank statement loans work for a primary home or second home.
• Investors. Investment property is eligible too, though terms vary by occupancy.

What to prepare

Show up organized and the file moves faster. Here is what to have ready before you apply:

• 12 or 24 months of statements. Every page, personal or business, for the accounts you want counted.
• A clear picture of your business. What you do, how you get paid, and how long you have been doing it.
• Notes on unusual deposits. Transfers between your own accounts, loans or one time sales may need a short explanation so they are not mistaken for income.
• Your down payment funds. Plan on typically 10 to 20% down, and keep those funds easy to document.
• Your credit. Around 620+ is the common starting point, and better scores tend to earn better terms.
• The property type. Primary home, second home or investment property in Scottsdale. Terms vary by occupancy.

Still hunting for the right home? Browse current Scottsdale listings at Arizona Luxury Property Search, then send us the address and we will tell you what your deposits support on that exact property.

Want the full picture of every self-employed option, not just bank statements? Read our guide to self-employed mortgages in Arizona.

Scottsdale bank statement loan FAQ

Can I buy a home in Scottsdale without tax returns if I am self-employed?

Yes. Pillar Mortgage Group places bank statement loans that qualify you on 12 or 24 months of personal or business bank statements instead of tax returns. They are built for self-employed borrowers, including business owners, 1099 earners and commission earners.

How is income calculated on a bank statement loan?

The lender averages your qualifying deposits across the statement period and usually applies an expense factor to business accounts for overhead. For example only, $720,000 in deposits over 24 months is a $30,000 monthly average, and a 50 percent example expense factor leaves $15,000 a month of qualifying income. The real factor depends on the lender and program.

How much down payment do I need for a bank statement loan in Scottsdale?

Plan on typically 10 to 20 percent down, depending on credit and occupancy. A stronger credit score can move you toward the lower end.

Can I use a bank statement loan for a Scottsdale second home or rental?

Yes. Bank statement loans work for a primary home, second home or investment property, though terms vary by occupancy.

Is the Freddie Mac rate what I will pay on a bank statement loan?

No. The Freddie Mac 30 year fixed average of 7.32% for the week of October 22, 2026 is a conventional benchmark, not a bank statement loan quote. Bank statement pricing depends on the lender, your credit, your down payment and the property.

Talk to Pillar Mortgage Group

We are a few minutes from you at 9089 E Bahia Dr in Scottsdale. Tell us how you get paid and we will show you what your deposits qualify for across lenders. Start your Scottsdale bank statement scenario or meet Blake Hermann, Director of Lending.

Found a place you love on Arizona Luxury Property Search? Send it over and we will run the numbers before you write an offer.

Sources

1. Pillar Mortgage Group, Bank Statement Loans in Arizona (program facts, accessed October 22, 2026). https://pillarmortgagegroup.com/bank-statement-loans-arizona
2. Zillow, Scottsdale, AZ Home Values (typical home value and median list price, data through September 30, 2026). https://www.zillow.com/home-values/54346/scottsdale-az/
3. U.S. Census Bureau, QuickFacts, Scottsdale city, Arizona (ACS 2020 to 2024 and Economic Census 2022, accessed October 22, 2026). https://www.census.gov/quickfacts/fact/table/scottsdalecityarizona/PST045224
4. U.S. Census Bureau, QuickFacts, Maricopa County, Arizona (Nonemployer Statistics 2024, accessed October 22, 2026). https://www.census.gov/quickfacts/fact/table/maricopacountyarizona/PST045224
5. Freddie Mac, Primary Mortgage Market Survey (30 year fixed average 7.32% as of October 22, 2026). https://www.freddiemac.com/pmms
6. Pillar Mortgage Group, Self-Employed Mortgages in Arizona. https://pillarmortgagegroup.com/post/self-employed-mortgage-arizona