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Gardena sits in the South Bay, where self-employment runs deep — from trucking and logistics to small retail and service businesses.
Bank statement loans exist for one reason: your tax returns don't tell the whole story. If you write off aggressively, your reported income tanks. This loan fixes that.
640 (typical)
Min Credit Score
12–24 mo. statements
Income Docs
10% minimum
Down Payment
2 years required
Self-Employment
Non-QM
Loan Type
Bank Statement Loans in Gardena
You'll need 12 to 24 months of personal or business bank statements. Lenders calculate your income from average monthly deposits — not your Schedule C.
Most lenders want a 640+ credit score for bank statement loans. Down payments typically start at 10%, though lower scores push that higher.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Gardena.
Gardena sits in the South Bay, where self-employment runs deep — from trucking and logistics to small retail and service businesses.
Bank statement loans exist for one reason: your tax returns don't tell the whole story. If you write off aggressively, your reported income tanks. This loan fixes that.
You'll need 12 to 24 months of personal or business bank statements. Lenders calculate your income from average monthly deposits — not your Schedule C.
Bank statement loans are Non-QM products. Most banks don't offer them. You need wholesale lenders who specialize in non-traditional income documentation.
SRK CAPITAL works with 200+ wholesale lenders. We find the ones pricing bank statement loans competitively — not just the one your bank happens to offer.
The biggest mistake self-employed borrowers make: applying at a retail bank first. They get denied, then wait months before finding the right lender.
Expense ratios matter a lot here. Lenders apply a standard expense factor to business statements — usually 50%. Personal statements often get counted at 100%.
A 1099 loan uses your 1099 forms to calculate income. Better if you have clean 1099 income but still don't file a traditional return.
P&L loans go even lighter on docs — just a CPA-prepared profit and loss statement. Bank statement loans land in the middle: more documentation, often better rates.
Gardena has a dense small-business community. Many residents own trucking operations, beauty supply shops, or food service businesses — all heavy cash-flow earners who write off everything.
Los Angeles County prices are high enough that qualifying loan amounts matter. Bank statement loans can go jumbo, which matters if you're buying above conventional limits.
Yes. Most lenders apply a 50% expense factor to business deposits. Personal statements typically count at full value.
Most lenders start at 640. A higher score gets you better rates. Rates vary by borrower profile and market conditions.
Yes. Lenders require at least 24 months of self-employment. A CPA letter confirming your business is common.
Yes. Many Non-QM lenders offer bank statement loans above conventional limits. LA County prices often push borrowers there.
Lenders average your monthly deposits over 12 or 24 months. Business statements are usually discounted for estimated expenses.
Yes, typically. Non-QM pricing runs higher than agency loans. Rates vary by borrower profile and market conditions.