For self-employed & freelancers

Know before

you apply.

See what a lender will flag — before they do.

Upload your bank statements and get a full lender-readiness report in 30 seconds — income score, red flags, DTI estimate, and exactly what to fix before you walk into a bank.

Free report on launch · No credit card needed

Your lender readiness
Chase Bank · 6 months · Self-employed
Score: 74
Likely to qualify — one fix needed
Avg monthly deposits$8,240
Qualifying income est.~$7,600 / mo
Max loan estimate~$380,000
Debt-to-income ratio41% — borderline
Overdraft eventsNone ✓
Flags found
Large deposit $4,200 on Oct 18 — prepare explanation letter
DTI borderline — pay down one debt before applying
No gambling transactions — clear
The problem

Self-employed applicants get rejected
for things they didn't know.

"I had no idea that one large client payment would get flagged as suspicious."
— Freelance designer, rejected first application
"My income was good but inconsistent month to month. The lender didn't see what I saw."
— Independent contractor, 3rd attempt
"Nobody told me my DTI was too high. I found out after a hard credit pull."
— Consultant, delayed home purchase 8 months
Sample report

This is what you get —
in 30 seconds.

This is a real example of what Bank2Sheet generates from 6 months of bank statements for a self-employed designer. Click the tabs to explore each section of the report.

Alex Johnson — Self-employed
Chase Bank · Jul–Dec 2024 · 6 months analyzed
74
score
Likely to qualify — one flag needs attention before applying
Income
Red flags
What to fix
Month breakdown
Avg monthly deposits
$8,240
Consistent across 6 months
Qualifying income est.
$7,600/mo
After lender adjustments
Estimated max loan
~$380,000
Based on 43% DTI ceiling
Debt-to-income ratio
41%
Borderline — 43% is the limit
Income stability
Consistent
No months below 80% of avg
Overdraft events
0
Clean account history
!
Large unexplained deposit — $4,200 on Oct 18
Any deposit over 50% of your average monthly income triggers a "large deposit" condition. Lenders will put your application on hold until you provide a Letter of Explanation (LOE) documenting the source. This is fixable — prepare the letter before you apply so there's no delay.
~
DTI ratio at 41% — borderline territory
Most conventional lenders cap DTI at 43%. You're close. If rates rise slightly or the lender uses a stricter calculation, you could be pushed over. Paying down one recurring debt — even a small one — before applying would give you more buffer.
✓
No overdraft or NSF events detected
A clean overdraft history is a strong positive signal. Lenders view even one NSF event as a risk indicator. Your account shows disciplined cash management across all 6 months.
✓
No gambling transactions detected
Gambling activity (DraftKings, FanDuel, casino transfers) is an automatic red flag at most lenders and can trigger immediate denial at stricter institutions. You're clear across all 6 months.
✓
No income gaps detected
Lenders look for months with significantly lower income than your average. No month dropped below 80% of your average — showing stable self-employment income, which is one of the hardest things for freelancers to demonstrate.
01
Write a Letter of Explanation for the $4,200 deposit
This is the most important action before you apply. A Letter of Explanation (LOE) is a simple one-paragraph letter that documents the source of the deposit — a client payment, asset sale, gift from family, or other source. Most lenders provide a template. Without this letter ready, your application will stall during underwriting and you'll lose weeks waiting.
Do this first
02
Pay down one recurring debt to lower your DTI
Your DTI is 41% — 2 points away from the conventional limit. Eliminating even a small recurring payment (a car loan, personal loan, or high credit card minimum) before applying could move you to 38–39%, giving you meaningful buffer. Focus on the debt with the highest monthly payment relative to its balance — that gives you the fastest DTI improvement.
Do before applying
03
Consider running a second check in 2 months
Your income trend is upward — December was your highest month at $9,200. Two more months of strong statements would raise your qualifying income estimate and further strengthen your application. If you're not in a rush, waiting until February and re-running this report could meaningfully improve your score and maximum loan amount.
Optional but helpful
Monthly deposits vs expenses
Deposits
Expenses
July 2024$7,100 in · $4,200 out
August 2024$7,800 in · $4,400 out
September 2024$8,200 in · $4,100 out
October 2024 ⚠$12,400 in · $4,300 out
November 2024$8,600 in · $4,500 out
December 2024 ↑$9,200 in · $4,200 out
What you get

Everything a lender checks —
before they check it.

01

Approval likelihood score

A single score from 0–100 that tells you where you stand before you apply. Green means go. Yellow means fix first. Red means wait — and here's exactly why.

Instant clarity
02

Red flag detection

Every transaction a lender will question — large unexplained deposits, overdrafts, gambling, irregular income — flagged with plain-English explanation and exactly what to do about it.

No surprises
03

Qualifying income estimate

Lenders calculate self-employed income differently than you expect. We show you the number they'll actually use — so you know what loan amount to realistically expect.

Know your number
04

Actionable fix list

Not just "here's a problem" — exactly what to do. Write this letter. Pay down this debt. Wait two more months. Specific steps that move your score before you apply.

Step-by-step
Built for

Anyone whose income
doesn't fit a W-2.

💻
Freelancers
Variable monthly income, multiple clients — lenders are unfamiliar with your profile.
🔧
Contractors
Project-based income with gaps between contracts looks unstable to automated underwriting.
🏪
Business owners
Business and personal finances mixed together create a messy picture that needs context.
🎨
Creatives & gig workers
Seasonal income and platform payments need explanation a lender won't wait to hear.
Simple pricing

Pay once. Know
exactly where you stand.

No subscription needed. Buy credits and use them when you need.

One-time check
$9
1 full report — ideal if you want to check once before applying.
  • 1 complete report
  • Full red flag analysis
  • Income + DTI estimate
  • Fix recommendations
  • PDF download
Most popular
Monthly credits
$19
5 credits / month — check as your finances change while you prepare.
  • 5 reports per month
  • Track score over time
  • Full red flag analysis
  • Income + DTI estimate
  • PDF + Excel download
Questions

Things people
usually ask.

Is my bank statement data safe?
Your PDF is processed and immediately deleted. We never store your financial data. Everything is encrypted in transit.
Which banks do you support?
All major US banks — Chase, Wells Fargo, Bank of America, Citi, US Bank, and 600+ more. Both digital and scanned PDFs work.
How accurate is the approval score?
The score reflects what lenders typically look for in bank statement review. It's not a guarantee — but it gives you a strong indication of what to fix before applying.
How many months of statements do I need?
Most lenders want 3–6 months for conventional loans, 12–24 for bank statement loans. Upload what you have — we work with as little as 1 month.
Does this affect my credit score?
No. We only analyze your bank statements — no credit pull involved. Check as many times as you want with zero impact on your credit.
When does early access launch?
We're onboarding early users now. Sign up and get a free report on launch day plus first access before we open publicly.

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