Loan guide, San Diego
Self-Employed
Qualify with 12 or 24 months of bank statements instead of tax returns. Rates run higher; flexibility is the point.
Down payment from
10%
Credit score from
640
Terms
30 years, fixed or ARM
Tax returns rarely show what a business owner actually earns, because good write-offs lower taxable income. A bank statement loan looks at deposits instead.
The lender averages 12 or 24 months of personal or business deposits and applies an expense factor to estimate your income. These are non-QM loans, so each lender sets its own pricing and limits.
12 or 24 months of personal or business bank statements
At least two years of self-employment history
A CPA letter or business license to confirm the business
Why people choose it
Income is based on real cash flow, not taxable income
Works for 1099 contractors, gig workers and small business owners
Loan amounts can reach jumbo size
Watch out for
Rates and fees are higher than conventional loans
Larger down payments and cash reserves are usually required
Some loans carry a prepayment penalty, we will point it out before you sign
Is this the right loan for you?
A 20-minute call tells you whether it fits, roughly what it costs and what to gather. No hard credit pull to start.
Guidelines vary by lender and change often. Sample figures only, not a commitment to lend. NMLS # 000000 (demo).
Other loans worth a look.
10 to 30 years, fixed or ARM
Conventional
The most common home loan in the country. Put as little as 3% down, and drop mortgage insurance once you reach 20% equity.
Read the guide
15 or 30 years, fixed
FHA
Government-insured loans with 3.5% down and flexible credit guidelines. Mortgage insurance is part of the package.
Read the guide
15 or 30 years, fixed or ARM
VA
Zero down, no monthly mortgage insurance and competitive rates for the people who served.
Read the guide