Guides / Income
Fannie Mae Form 1084 vs a Bank Statement Income Worksheet
Nov 4, 2026 · Varaxon Technologies LLC d/b/a StatementReady
This is educational, not underwriting, legal or tax advice. Lenders set their own guidelines; confirm with the lender. Not legal or tax advice.
Form 1084 and a bank statement income worksheet both end in a monthly income figure for a self-employed borrower. They start from different documents. If the borrower's tax returns don't show the income the business earns, knowing which path the file is on saves a round trip with the lender.
What Form 1084 is
Form 1084 is Fannie Mae's Cash Flow Analysis worksheet. The form itself says: "This worksheet may be used to prepare a written evaluation of the analysis of income related to self-employment. The purpose of this written analysis is to determine the amount of stable and continuous income that will be available to the borrower for loan qualifying purposes." [1]
It starts from tax-return lines. Its first section is "IRS Form 1040 – Individual Income Tax Return", with rows such as "Schedule C – Profit or Loss from Business: Sole Proprietorship", "Net Profit or (Loss)", "Depreciation" and "Business Use of Home". [1] Later sections cover partnership and S corporation income, where the form says a borrower's share "can only be considered if the lender obtains documentation, such as Schedule K-1, verifying that the income was actually distributed to the borrower, or the business has adequate liquidity to support the withdrawal of earnings." [1]
Where Fannie Mae's guide uses it
Fannie Mae's Selling Guide, B3-3.5-01, says "the lender must complete Fannie Mae's Cash Flow Analysis (Form 1084) or any other type of cash flow analysis form that applies the same principles. A copy of the written analysis must be included in the permanent loan file." [2] On documents, it says the lender may obtain "signed federal income tax returns … that were filed with the IRS for the past two years," or IRS-issued transcripts. [2]
That's the conventional, tax-return path for loans sold to Fannie Mae.
What a bank statement worksheet starts from
A bank statement worksheet starts from deposits on 12 or 24 months of statements, as non-QM programs such as Arch's describe ("Bank Statement: 12 or 24 months' personal or business bank statements"). [3] The program then applies its own expense method and the borrower's ownership share. See cash flow analysis vs expense factor.
Side by side
| Form 1084 | Bank statement worksheet | |
|---|---|---|
| Starts from | Tax-return lines (Schedule C, K-1s, business returns) [1] | Deposits on bank statements [3] |
| Add-backs | Items like depreciation, depletion, business use of home [1] | Per program; transfers and refunds are excluded from deposits |
| Expenses | Already in the tax return | Expense factor, CPA/preparer statement or P&L, per program |
| Where it's named | Fannie Mae Selling Guide B3-3.5-01 [2] | The non-QM lender's own matrix |
How a broker uses this on a new file
- Ask whether the borrower files Schedule C, owns part of a partnership or S corp, or both. That tells you which 1084 sections a tax-return file would touch.
- Compare the net figure on the returns with the deposits. If they are far apart, note it and ask the lender which documentation path fits.
- If the file goes the bank statement route, gather the full window and check whether each statement's transactions add up to its printed balances.
- Keep both figures in your notes for the lender conversation, labeled by source.
FAQ
Is Form 1084 required?
Fannie Mae's guide says the lender must complete Form 1084 "or any other type of cash flow analysis form that applies the same principles." [2] That's for Fannie Mae loans. Non-QM programs set their own rules.
Can Form 1084 be done from bank statements?
The form's rows are tax-return lines, such as Schedule C net profit and depreciation. [1] A bank statement worksheet is a different method.
What is Form 1084 used for?
The form says its purpose is "to determine the amount of stable and continuous income that will be available to the borrower for loan qualifying purposes." [1]
Does StatementReady do a Form 1084 cash flow analysis?
No. StatementReady works from bank statements, not tax returns.
Sources (checked 2026-11-04)
Product statements are quoted from the live StatementReady FAQ on the date checked. These documents may change; confirm the current version with the lender.
- Fannie Mae, Cash Flow Analysis (Form 1084), June 2019 (PDF, fetched Nov 4, 2026), pp. 1–2: "This worksheet may be used to prepare a written evaluation of the analysis of income related to self-employment. The purpose of this written analysis is to determine the amount of stable and continuous income that will be available to the borrower for loan qualifying purposes." https://singlefamily.fanniemae.com/media/7746/display
- Fannie Mae Selling Guide, B3-3.5-01, Underwriting Factors and Documentation for a Self-Employed Borrower (12/13/2023; fetched Nov 4, 2026): "the lender must complete Fannie Mae's Cash Flow Analysis (Form 1084) or any other type of cash flow analysis form that applies the same principles. A copy of the written analysis must be included in the permanent loan file." https://selling-guide.fanniemae.com/sel/b3-3.5-01/underwriting-factors-and-documentation-self-employed-borrower
- Arch Mortgage Funding, Inc., Non-QM Quick Reference (PDF, © 2026; fetched Nov 4, 2026): "Bank Statement: 12 or 24 months' personal or business bank statements (minimum self-employed business ownership of 25%)". https://mortgage.archgroup.com/wp-content/uploads/sites/4/MCUS-B1531AMF-26A-Non-QM-Program-QR.pdf
- StatementReady FAQ: https://statementready.net/faq
Related guides
- Cash flow analysis vs expense factor
- Fannie Mae large deposit calculator
- Self-employment history on bank statement loans
For shorter answers, see the StatementReady FAQ.
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