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Bank Statement Loans in Coalinga
Coalinga's economy runs on ag business, oil services, and small operators who show income in bank deposits, not W-2s. Bank statement loans let you qualify using 12 to 24 months of business or personal account activity.
Most self-employed borrowers in Fresno County write off 40-60% of their gross income. That kills conventional approval despite strong cash flow. Bank statement underwriting fixes that problem.
You need 12 months in business, credit above 620, and two years of consecutive bank statements. Lenders calculate income from average monthly deposits after backing out transfers and one-time windfalls.
Most programs allow 90% LTV on purchases and 80% on cash-out refinances. Expect debt-to-income limits around 50%, higher than conventional but still real underwriting.
Bank statement programs vary wildly between lenders. Some accept business accounts only, others want personal. Some average 100% of deposits, others use 50% to account for expenses.
Rates run 1.5 to 3 points above conventional depending on credit, down payment, and expense ratio assumptions. Shopping across wholesale lenders matters more here than on any conforming product.
I run multiple income calculations before submitting. If one lender uses 50% expense ratios and another uses actual business percentages, that's the difference between approval and denial.
Coalinga borrowers often mix ag income with side businesses. Clean separation between accounts helps. Messy commingling requires more documentation and sometimes kills deals that should work.
1099 loans work better if you have steady commission income from one source. Profit and loss loans make sense above $1M purchase price where you want to show higher income through CPA statements.
DSCR loans beat bank statements on investment properties where rental income covers the mortgage. Asset depletion works if you have retirement accounts but limited operating income.
Coalinga property values stay below $500K for most SFRs. That keeps loan amounts manageable and compensates for higher bank statement rates through lower absolute dollar costs.
Seasonal ag businesses create lumpy deposit patterns. Lenders who understand crop cycles and drilling contracts price better than generic non-QM shops. We match borrowers to lenders who know this market.
Yes. Bank statement loans ignore tax returns entirely. Lenders calculate income from actual deposits regardless of what you filed with IRS.
Depends on the lender. Some require both to track fund flow. Others accept business only if income deposits are clear and consistent.
They average 12 or 24 months of deposits. Longer averaging periods smooth out ag cycles and contract work variability.
Most lenders want 24 months of statements but only 12 months in business. You can use personal accounts to fill early gaps.
Expect 1.5-3% premium depending on profile. Lower loan amounts in Coalinga make the dollar difference smaller than in expensive markets.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.