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Artesia has a dense concentration of small business owners. Many run retail shops, restaurants, or service businesses — and none of them show clean W-2 income.
Bank statement loans exist for exactly this borrower. Your tax returns don't tell the whole story. Your deposits do.
12–24 Months
Bank Statement Period
640+
Min Credit Score
10–20%
Min Down Payment
Non-QM
Loan Type
Bank Statement Loans in Artesia
You need 12 to 24 months of bank statements — personal, business, or both. Lenders calculate your income from average monthly deposits, not what you wrote off.
Most lenders want a 640+ credit score and 10-20% down. Rates are higher than conventional loans. That's the tradeoff for skipping traditional income docs.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Artesia.
Artesia has a dense concentration of small business owners. Many run retail shops, restaurants, or service businesses — and none of them show clean W-2 income.
Bank statement loans exist for exactly this borrower. Your tax returns don't tell the whole story. Your deposits do.
You need 12 to 24 months of bank statements — personal, business, or both. Lenders calculate your income from average monthly deposits, not what you wrote off.
Bank statement loans are non-QM products. Most big banks don't offer them. You need a broker with access to specialty wholesale lenders who write these regularly.
Not all non-QM lenders price the same. One lender might use 50% of deposits as income. Another uses 100% of net deposits. That difference changes your qualifying amount significantly.
The biggest mistake I see: borrowers mixing personal and business deposits without separation. Lenders flag that fast. Keep accounts clean for at least 12 months before applying.
Large irregular deposits are another problem. A $40,000 transfer mid-year needs a paper trail. Lenders will ask. Get ahead of it before underwriting does.
A 1099 loan works if most of your income is contract-based. A P&L loan lets a CPA verify income on one page. Bank statement loans work best when your deposits tell a consistent story.
Asset depletion loans are an option if you have significant savings but low deposit activity. DSCR loans are better if you're buying a rental — income comes from the property, not you.
Artesia sits in southeast LA County, with a tight housing market and buyers who often run their own businesses. Bank statement loans come up constantly in this zip code.
Los Angeles County property values mean loan amounts can run high. Make sure your deposit history supports the purchase price you're targeting — lenders won't stretch the math.
Yes. Many lenders accept personal statements. Some require both if you're a sole proprietor mixing income sources.
They average your monthly deposits over 12 or 24 months. Some lenders apply an expense factor, reducing the usable income amount.
Yes. Non-QM loans carry higher rates than conventional loans. Rates vary by borrower profile and market conditions.
Most lenders require at least two years of self-employment. Some allow one year with strong deposit history and compensating factors.
Some non-QM lenders allow 10% down. Expect higher rates and stricter credit requirements at lower down payment amounts.
Inconsistent deposits hurt your qualifying income. Lenders average the full period, so low months pull your number down.