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Bank Statement Loans in Corte Madera
Corte Madera's proximity to San Francisco means we see plenty of tech consultants, creative professionals, and business owners who can't document income the traditional way.
Bank statement loans let you qualify using 12 or 24 months of deposits instead of tax returns. This works when your write-offs reduce taxable income but cash flow is strong.
You need 12 to 24 months of business or personal bank statements showing consistent deposits. Lenders calculate income by averaging monthly deposits and applying an expense factor.
Credit minimums start at 660, though some lenders go lower. Expect 10-20% down for primary residences, more for investment properties.
We typically see loan amounts up to $3 million in Marin County. DTI limits run higher than conventional loans since income calculation methods differ.
Not every lender underwrites bank statement loans the same way. Some average all deposits, others exclude transfers and one-time windfalls.
Rate pricing varies significantly based on how lenders calculate your income. A lender using 24-month averaging might offer better terms than one using 12 months if your recent income dropped.
We access 15+ bank statement lenders with different overlays. Shopping this properly means matching your deposit pattern to the right underwriting approach.
The biggest mistake is sending statements that show irregular deposits or frequent NSFs. Clean up your banking before applying or use business accounts only.
If you pay yourself a salary from an S-corp, some lenders treat those deposits better than 1099 income. Others don't care about the distinction but want consistency.
Corte Madera buyers often have multiple income streams. We see real estate agents with commissions plus rental income, or consultants with retainers plus project fees. Bank statement loans handle complexity better than W-2 programs.
1099 loans require year-end statements from clients. Those work when you have a few big customers. Bank statements work better when income sources are fragmented.
Profit and loss loans need CPA preparation and sometimes a review or audit. Bank statements skip that requirement and cost. You're trading documentation complexity for rate.
DSCR loans ignore your income entirely and qualify based on rental cash flow. That makes sense for investment properties but not primary residences in Corte Madera.
Marin County properties often exceed conforming loan limits. Bank statement lenders handle jumbo amounts without the income documentation traditional jumbo loans demand.
We work with self-employed buyers relocating from San Francisco who structured businesses for maximum tax efficiency. That planning kills conventional loan approval but bank statements solve it.
Corte Madera's mix of condos and single-family homes means appraisals usually come in clean. Non-QM lenders care about property type and condition more than conventional programs do.
Yes, if business income flows through personal accounts. Business accounts usually work better because they show cleaner deposit patterns without personal expenses mixed in.
Use 24-month averaging instead of 12 months. That smooths recent dips and typically improves your qualifying income number.
Yes, but expect 20-25% down minimum. DSCR loans often price better for pure investment purchases since they ignore your personal income entirely.
They average monthly deposits over 12 or 24 months, then apply an expense factor (usually 25-50%). The result becomes your qualifying income.
Provide all accounts where income deposits occur. Lenders combine them to calculate total qualifying income from your self-employment.
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.