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Carmel-by-the-Sea attracts artists, entrepreneurs, and business owners. These buyers rarely show income the way a W-2 employee does.
Bank statement loans exist for exactly this borrower. Your deposits tell the real income story — not your tax return.
12–24 Months
Bank Statements Needed
640+
Min Credit Score
10–20%
Down Payment
Non-QM
Loan Type
2 Years Typical
Self-Employed History
Bank Statement Loans in Carmel-by-the-Sea
Lenders typically want 12 to 24 months of bank statements. They average your deposits and apply an expense factor to calculate qualifying income.
Most programs require a 640+ credit score and 10–20% down. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Carmel-by-the-Sea.
Carmel-by-the-Sea attracts artists, entrepreneurs, and business owners. These buyers rarely show income the way a W-2 employee does.
Bank statement loans exist for exactly this borrower. Your deposits tell the real income story — not your tax return.
Lenders typically want 12 to 24 months of bank statements. They average your deposits and apply an expense factor to calculate qualifying income.
Bank statement loans are non-QM products. Most retail banks don't offer them — you need a broker with access to wholesale non-QM lenders.
At SRK CAPITAL, we work with 200+ wholesale lenders. Several specialize in non-QM products built for high-income self-employed borrowers.
The biggest mistake self-employed buyers make: assuming their tax return income is what lenders see. It isn't — on a bank statement loan, deposits are what counts.
Keep business and personal accounts separate. Mixed deposits create underwriting headaches and can lower your qualifying income.
If you receive 1099 income, a 1099 loan might qualify you on gross earnings without the bank statement math. Worth comparing both options.
Strong asset reserves? An asset depletion loan converts your portfolio into qualifying income. For investment properties, a DSCR loan skips personal income entirely.
Carmel-by-the-Sea is one of California's most distinctive luxury markets. Properties here carry premium price tags that often push past conventional loan limits.
Many buyers in this market are business owners, gallery owners, or remote founders. Bank statement loans were designed for this exact profile.
They average 12–24 months of deposits, then apply an expense factor. Business accounts often use a 50% expense ratio; personal accounts use less.
Yes. Jumbo bank statement loans go well above conventional limits. Your deposit history needs to support the payment at your down payment level.
Yes — bank statement loans are designed for self-employed borrowers. W-2 employees have better options through conventional or FHA programs.
Most lenders require a 2-year self-employment history. A CPA letter or business license helps verify your status.
Yes, non-QM rates run higher than conventional. Rates vary by borrower profile and market conditions, but the trade-off is qualifying on actual cash flow.
Most bank statement programs want 10–20% down. Jumbo loan tiers often require more. Your credit score affects where you land.