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Bank Statement Loans in Larkspur
Larkspur's business community—from Magnolia Avenue boutique owners to Bay Area consultants—faces a recurring mortgage problem. Traditional lenders reject them despite strong income.
Bank statement loans solve this by using 12-24 months of deposits instead of tax returns. Your actual cash flow matters more than what you wrote off.
You need 12 months minimum of business or personal bank statements showing consistent deposits. Lenders calculate income using 50-100% of average monthly deposits depending on the underwriter.
Credit scores start at 620 for most programs, though 680+ gets better pricing. Expect 10-20% down for single-family homes in Marin County.
Bank statement programs live in the non-QM space where pricing and underwriting rules vary wildly between lenders. One might use 50% of deposits while another uses 75%.
We access 200+ wholesale lenders with different bank statement programs. That flexibility matters when a 10% swing in calculated income determines whether you qualify.
Most self-employed borrowers get rejected because they applied to the wrong lender first. Some programs want business statements only, others accept personal accounts, some allow both mixed together.
Clean statements perform better. Large irregular deposits trigger questions. Frequent NSFs kill deals. If your statements look chaotic, wait three months and clean them up before applying.
Bank statement loans cost more than conventional mortgages—typically 1-2% higher rates. But they close deals that tax returns can't support.
If you filed a 1099-MISC instead of running everything through a business account, 1099 loans might price better. Investment property buyers should compare against DSCR loans which ignore personal income entirely.
Larkspur properties carry Marin County price tags even for smaller homes. Bank statement loans cap around $3M depending on the lender, which covers most local inventory but not waterfront estates.
Many Larkspur buyers run small agencies or consulting practices with lumpy income. A broker who understands seasonal business patterns can structure your statement review to capture high-earning months properly.
Some lenders allow it, others don't. Mixing accounts works best when you can show clear business income flowing to personal accounts for living expenses.
Most use 50-75% of average monthly deposits depending on business type and expense assumptions. Higher percentages apply to service businesses with low overhead.
You need 12 months minimum for most programs. Some portfolio lenders accept less with larger down payments, but expect tighter terms.
Not automatically, but underwriters will ask for documentation. Loans, transfers between your own accounts, or asset sales usually get excluded from income calculations.
No—that's the entire point. Bank statement loans ignore tax returns completely and focus on actual cash flow through your accounts.
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.