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Self-employed income calculator

On a bank statement loan, a lender counts your average monthly deposits minus an expense factor for business costs. A P&L loan uses your net profit, and a 1099 loan uses your 1099 earnings. Put in your own numbers and see the monthly figure, one step at a time.

What will the lender look at?
How many months of statements?
Eligible deposits for each monthWhich deposits count is the lender’s call: take out transfers between your own accounts, loan proceeds and any large one-off deposit the lender won’t use.

Oldest month first

0 of 12 months entered
The share of your income that goes to business costs. It depends on your business and the lender, so there’s no default: your CPA can confirm your own share, or ask the lender which factor it uses.

Your next step

Want a loan officer to look at your real numbers instead of an estimate? Start with the self-employed loan programs page.

See self-employed loan options

How the math works

Bank statements. Add up the eligible deposits for 12 or 24 months and divide by the number of months. That average, times what’s left after your expense factor, is the monthly income: average monthly deposits × (100% − expense factor).

Profit and loss. Gross revenue minus business expenses is the business’s net income. If you own part of the business, only your share counts. Divide by 12 for a month.

1099 earnings. Add up your 1099s for the year. If you enter two years, they’re averaged. Take off your expense factor, then divide by 12 for a monthly figure.

Figures are rounded to the cent at each step, and the table under your result shows every line.

Questions about this calculator

Which deposits should I put in?

The money your work brought in. Transfers between your own accounts, loan proceeds and big one-off deposits are the lender’s call, so take them out unless your lender tells you they count.

Why doesn’t the expense factor come pre-filled?

Because it depends on your business and on the lender, and a guess could flatter your numbers or sell them short. Your CPA can confirm your real cost share, or ask the lender which factor it uses.

Is this what I’ll qualify on?

Not necessarily. It works only from the figures you type in, so it’s only as close as those figures are to what the lender sees. Use it to plan, then let a loan officer run the real file.