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Bank Statement Loans in Beverly Hills
Beverly Hills attracts self-employed professionals who write off aggressively. Tax returns rarely show the income needed to qualify for million-dollar properties here.
Bank statement loans solve this gap by using deposits to prove income. In a market where conforming loan limits hit hard, this program keeps business owners competitive.
Most Beverly Hills buyers using bank statements are entrepreneurs, entertainment professionals, or consultants. Their actual earnings dwarf what their 1040s report.
We see these loans fund purchases from $1M to $5M+ in Beverly Hills. The key is showing consistent deposits that demonstrate real cash flow.
You need 12 to 24 months of personal or business bank statements. Lenders average deposits and apply a percentage to calculate qualifying income.
Credit requirements start around 660, though some lenders go lower. Down payment typically runs 10-20% depending on loan amount and credit profile.
Self-employment must be established for at least two years. You can't have been W-2 last year and suddenly claim business income this year.
Debt-to-income ratios run higher than conventional loans—up to 50% in many cases. Reserves of 6-12 months are standard for Beverly Hills purchase prices.
Bank statement programs vary wildly across lenders. Some average deposits at 100%, others at 50%—this directly changes how much you qualify for.
Rates run 1-2% above conventional loans. The exact spread depends on credit, down payment, and whether you use personal or business statements.
Beverly Hills loan amounts require lenders comfortable in the jumbo space. Not every non-QM shop handles $2M+ bank statement deals confidently.
We access 200+ wholesale lenders and shop programs aggressively. The difference between a weak bank statement lender and a strong one can be $500K in buying power.
Clean bank statements matter more than most borrowers realize. Large unexplained deposits raise flags. Frequent NSFs or overdrafts create problems.
Personal statements usually qualify you for more than business statements. Business accounts get heavier deductions for operating expenses.
Time your application carefully. If you're sitting on a big tax refund deposit or one-time settlement, wait until it ages past the statement window.
Beverly Hills deals often combine bank statements with asset depletion. If you have liquid assets but lumpy deposits, this hybrid approach works better.
1099 loans work for contractors with steady client relationships. Bank statements work better when income sources vary or you mix 1099 and business revenue.
Profit & loss statements require a CPA signature and more documentation. Bank statements are faster and simpler if your deposits tell a clean story.
DSCR loans make sense for investment properties where rental income covers the payment. Bank statements are for owner-occupied purchases in Beverly Hills.
Asset depletion loans work when you have significant liquid assets but irregular income. Bank statements require consistent deposit patterns instead.
Beverly Hills properties often exceed conforming limits significantly. Bank statement loans scale to these amounts better than trying to force income documentation.
The city attracts global entrepreneurs and entertainment industry self-employed. Traditional employment verification doesn't match how these borrowers earn.
HOA fees in Beverly Hills condos can exceed $2,000 monthly. This affects DTI calculations even with flexible bank statement underwriting.
Property taxes here run high. Make sure your lender calculates qualifying ratios using actual Beverly Hills tax rates, not generic California assumptions.
Yes, but personal statements typically qualify you for more. Business accounts get expense deductions that reduce qualifying income by 30-50%.
Most lenders require 660 minimum. Some programs go to 620, but rates increase and down payment requirements jump to 20-25%.
Faster than you'd expect—often 3-4 weeks to close. The main delay is gathering statements and clearing large deposit explanations.
No. Transfers between your own accounts don't count. One-time deposits get excluded unless you can document them as recurring income.
Absolutely. We see these frequently for cash-out refinances where self-employed borrowers tap equity but can't document income traditionally.
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.