Loading
Loading
Commerce is a working-class hub in Los Angeles County with strong industrial and commercial activity. Self-employed buyers and business owners make up a significant portion of the market here, and traditional income documentation can be a real barrier.
Bank Statement Loans let you qualify using your actual bank deposits instead of tax returns. This matters in Commerce, where many entrepreneurs and contractors operate outside the W-2 system.
620+
Minimum FICO
24 months bank statements
Documentation
20-25%
Down payment
45-60 days
Approval timeline
Bank Statement Loans in Commerce
Bank Statement Loans typically require a 620+ FICO score and 20% to 25% down. Lenders look at 24 months of bank statements to average your income, so consistent deposits matter more than a single large deposit.
Los Angeles County's median household income is $87,760. That income level supports homes in the mid-range here, though many Commerce buyers operate well above that as business owners or self-employed professionals.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Commerce.
Commerce is a working-class hub in Los Angeles County with strong industrial and commercial activity. Self-employed buyers and business owners make up a significant portion of the market here, and traditional income documentation can be a real barrier.
Bank Statement Loans let you qualify using your actual bank deposits instead of tax returns. This matters in Commerce, where many entrepreneurs and contractors operate outside the W-2 system.
Bank Statement Loans typically require a 620+ FICO score and 20% to 25% down. Lenders look at 24 months of bank statements to average your income, so consistent deposits matter more than a single large deposit.
Bank Statement Loans are a niche product. Fewer lenders offer them than conventional or FHA programs, and those who do often have stricter overlays on credit and reserves than mainstream programs.
Approval timelines run 45 to 60 days because underwriters must manually review statements and verify deposits. Retail banks rarely offer this product; mortgage brokers and portfolio lenders are your main sources.
Bank Statement Loans make sense in Commerce for self-employed buyers with solid deposit history but weak tax returns. If your business is profitable and your bank account shows it, this program opens doors that conventional underwriting would close.
They don't work if your deposits are inconsistent or if you've had recent business disruption. Lenders want to see stable, predictable cash flow — not sporadic large deposits.
Conventional loans require full tax returns and W-2 documentation, which self-employed buyers often can't provide cleanly. Bank Statement Loans skip that entirely and rely on what's actually in your account.
FHA loans also require tax returns and typically demand a lower FICO score. Bank Statement Loans at 20% down avoid mortgage insurance entirely, while FHA carries it for life if down payment is under 10%.
Commerce has limited local amenities in the traditional sense, but it's a hub for small business and manufacturing. If you own a business in the area or operate one nearby, Bank Statement Loans let you stay local without fighting documentation battles.
The city's industrial character means many residents are entrepreneurs and contractors. Bank Statement Loans align with how Commerce actually works — cash-based, independent, and results-driven.
No. Most lenders require 620+ FICO for Bank Statement Loans. A lower score typically means looking at FHA or waiting to build credit.
No. Bank Statement Loans use 24 months of bank deposits to prove income instead. Your statements replace tax returns entirely in the approval process.
Typically 20% to 25%. Some lenders go as low as 15% with strong reserves. The larger your down payment, the easier approval becomes.
Plan on 45 to 60 days. Manual underwriting takes longer than automated conventional processing. Brokers can sometimes move faster than retail banks.
Bank Statement Loans work best with consistent deposits. If your income swings wildly month to month, lenders may average over 24 months or ask for additional reserves.