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Bank Statement Loans · California

Bank Statement Loans for California's Self-Employed

Qualify on 12 or 24 months of bank deposits instead of tax returns. The mortgage program built for business owners, 1099 earners, and anyone whose Schedule C deductions tell a story their bank deposits don't.

  • 12 or 24 month programs
  • Personal or business accounts
  • Loans to $3M
  • Up to 90% LTV
  • 620+ FICO
  • No tax returns ever
  • Primary, 2nd home, investment
  • 21–28 day closings
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The Program Explained

What Is a Bank Statement Loan?

A bank statement loan is a non-QM mortgage program designed for self-employed borrowers. Instead of qualifying you on your tax returns (which often understate income due to legitimate business deductions), the lender averages 12 or 24 months of your bank deposits to calculate qualifying income.

It is the single most popular self-employed mortgage program in California, because most self-employed buyers face the same problem: their tax returns make them look much poorer than they actually are.

The classic self-employed paradox

You deposit $400K a year. After equipment write-offs, mileage, home office, software subscriptions, contracted help, and continuing education, your Schedule C shows $140K net. Conventional mortgages qualify you on the $140K. Bank statement loans qualify you on the $400K (or a percentage of it). That's the difference between a $500K loan approval and a $1.4M loan approval on the same income.

How qualifying income is calculated

The math is straightforward. We pull 12 or 24 months of bank statements (your choice — usually the 12-month program shows higher income, but the 24-month is a stricter test that prices better):

Personal account example (12-month program):

$36,000/month avg deposits × 100% expense ratio = $36,000/month qualifying income
→ $432K annual qualifying income

Business account example (12-month program):

$50,000/month avg deposits × 60% expense ratio = $30,000/month qualifying income
→ $360K annual qualifying income

The expense ratio on business accounts (typically 50–60%) acts as an assumption about business expenses being paid out of those deposits. If your business has unusually low expenses, your loan officer can sometimes negotiate a higher ratio with the wholesale lender.

What counts as a qualifying deposit

Legitimate income deposits count. Excluded items: transfers between your own accounts, loan proceeds, refunds, large one-off windfalls (unless they're recurring business income), and anything that can't be sourced to ongoing earned income.

Who It's For

Who Qualifies for a California Bank Statement Loan

If you receive 1099s, file a Schedule C, or own a business, a bank statement loan likely fits your situation better than any other mortgage product.

💻

Content Creators

Including OnlyFans creators, YouTube earners, TikTok creators, Substack writers, podcasters, and Twitch streamers.

🛠️

Business Owners

LLC, S-Corp, sole prop, partnerships. Any business structure works — personal or business deposits both qualify.

⚖️

Independent Professionals

Consultants, freelance attorneys, fractional CFOs, real estate agents, brokers, contractors, and 1099 healthcare professionals.

🚗

Gig Economy Workers

Full-time Uber/Lyft drivers, DoorDash, Instacart, full-time delivery, and platform-based independent contractors.

💼

High-Deduction Earners

Anyone whose CPA does an excellent job at tax minimization — making your Schedule C net look low compared to actual deposits.

🏢

Real Estate Investors

Active flippers, wholesalers, and rental operators using bank statement programs for owner-occupied or 2nd home purchases.

Common Questions

California Bank Statement Loan FAQ

What is a bank statement loan? +
A bank statement loan is a mortgage program that qualifies self-employed borrowers using 12 or 24 months of personal or business bank deposits instead of tax returns or W-2s. The lender averages your deposits to calculate qualifying income.
What's the difference between the 12-month and 24-month program? +
The 12-month program is more flexible — useful if your most recent year is significantly higher than the prior year. The 24-month program is more conservative but typically prices about 0.25–0.50% better. Most California buyers choose the 12-month for the higher qualifying income.
Can I use personal AND business accounts together? +
Yes, in many cases. We can combine deposits from both account types — though the personal account portion gets credited at the personal ratio (~100%) and the business portion gets the business ratio (~50–60%). Your loan officer will model whether combining helps your specific file.
What if my deposits include large one-off items? +
Underwriters separate recurring earned income from one-off items (asset sales, gifts, transfers, refunds). One-time deposits are excluded from the qualifying calculation. If you have unusual deposit patterns, it's worth a call before applying so we can build the file the right way from day one.
How much down payment do I need in California? +
As low as 10% down on a primary residence (90% LTV) with 700+ FICO and 6+ months of reserves. Most California files land at 15–20% down. Second homes typically 15%+. Investment properties 20–25%.
Will my rate be higher than a conventional loan? +
Yes — typically 1–2% higher than a conventional Fannie Mae rate. This is the cost of qualifying without tax returns. For self-employed buyers whose tax returns wouldn't qualify them for the conventional rate in the first place, the trade is usually well worth it (better to close at 8% than not close at 6%).
Are bank statement loans only for self-employed buyers? +
Yes — they're designed for self-employed income. W-2 employees should use conventional loans, which qualify them on pay stubs and price 1–2% lower. If you have a mix of W-2 and self-employment, talk to us about combining programs.
What if I've only been self-employed for one year? +
See our 1-year self-employed mortgage program — it pairs with the bank statement loan and skips the standard 2-year self-employment requirement.
Related Programs

Other Self-Employed Loan Options

Self-Employed Mortgages (No Tax Returns)

A complete overview of every no-tax-return program we offer.

1-Year Self-Employed Mortgage

Skip the standard 2-year requirement. Pairs with bank statement loans.

Home Loans for OnlyFans Creators

How we underwrite Fenix International deposits. Privacy specifics.

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