Yes. Landscapers and lawn care companies can qualify for a mortgage with 12 or 24 months of bank statements instead of tax returns. The lender adds up your business deposits, takes out an expense factor for your costs, and uses what is left as your income. Most lenders want about two years in the same line of work.
How the money comes in
Lawn care brings steady monthly route income from residential and commercial accounts. Installs and cleanups add larger, uneven checks. Florida growing seasons make some months busier than others.
What the lender looks for in your statements
Averaging 12 or 24 months smooths out the seasonal swings. Lenders count customer payments and remove equipment financing proceeds and transfers between accounts.
Transfers between your own accounts, loan proceeds and other one time money are usually left out. The guide on deposit problems covers how lenders handle large or unusual deposits.
Your costs and the expense factor
Equipment, fuel, trailers, labor and insurance are real costs. A small owner run route may still run well under half of revenue, which is where a CPA letter helps. A company with several crews may be close to the 50% default.
Most lenders start with a 50% expense factor. A letter from your CPA or enrolled agent, or a profit and loss statement prepared by a tax professional, can show lower costs. See how expense factors work.
Proof that the business is real
Your Sunbiz company filing, local business tax receipt, and any pesticide or fertilizer license if you apply chemicals. Lenders also accept a CPA or tax preparer letter confirming how long you have been in business.
Common snags, and how to avoid them
- Equipment loans in your personal name that count as debt.
- Cash customers whose payments never reach the bank, so the lender cannot count them.
- Big one time install checks that the lender asks you to explain.
What to gather
- 12 or 24 months of business or personal bank statements, every page.
- Proof of your business or license.
- A CPA or enrolled agent letter if your costs are below half of revenue.
- Recent statements for savings or retirement accounts you will use for the down payment or reserves.
Other loans to compare
See also 12 vs 24 month statements to choose the period that shows you best. Bank statement loans usually cost more than a conventional loan and ask for a larger down payment, so I check whether a standard loan can count your income first.
More jobs: bank statement loans by job · Back to no tax return loans · bank statement loan requirements
Common questions
Can landscapers and lawn care companies get a mortgage without tax returns?
Yes. A bank statement loan uses 12 or 24 months of deposits instead of tax returns. Most lenders want about two years in the same line of work.
What expense factor will the lender use?
Most lenders start at 50% of deposits. A CPA or enrolled agent letter, or a third party profit and loss statement, can support a lower number if your real costs are lower.
Do bank statement loans cost more?
Usually, yes. Expect a higher rate and a larger down payment than a conventional loan. The exact cost depends on your credit, down payment and documents.