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La Palma sits in northwest Orange County — a tight, established market where self-employed buyers compete hard for limited inventory.
Bank statement loans exist for one reason: tax returns don't tell the whole story for business owners. This program uses 12 to 24 months of deposits instead.
640+
Min Credit Score
12–24 Months
Statements Required
10–20%
Min Down Payment
Deposit Averaging
Income Method
Bank Statement Loans in La Palma
You'll need 12 months of personal or 24 months of business bank statements. Lenders average your monthly deposits to calculate qualifying income.
Most lenders want a 640+ credit score and 10–20% down. Expense ratios apply to business accounts — typically 50% of deposits count as income.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in La Palma.
La Palma sits in northwest Orange County — a tight, established market where self-employed buyers compete hard for limited inventory.
Bank statement loans exist for one reason: tax returns don't tell the whole story for business owners. This program uses 12 to 24 months of deposits instead.
You'll need 12 months of personal or 24 months of business bank statements. Lenders average your monthly deposits 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 — including dedicated non-QM shops that specialize in self-employed borrower profiles.
The biggest mistake self-employed borrowers make: assuming their write-offs won't hurt them here. Heavy deductions lower your bank statement income too — lenders apply an expense factor.
Personal bank statements are cleaner. If your business and personal finances are mixed, separate them before you apply. It changes your qualifying income significantly.
A 1099 loan works better if most of your income comes from contract work with clear 1099s. P&L loans suit borrowers with a CPA who can certify earnings.
Bank statement loans give you the most flexibility when income is complex or irregular. DSCR loans are the alternative if you're buying an investment property — income comes from the rent, not you.
La Palma is a small city — around 15,000 residents, low turnover, and homes that rarely sit long. Self-employed buyers need to be pre-approved and move fast.
Orange County's cost of living means many self-employed borrowers here are owners of established businesses with strong cash flow that tax returns understate. This loan was built for that profile.
Yes, but lenders apply an expense ratio — often 50%. Personal statements typically yield higher qualifying income.
Most non-QM lenders want 640 or higher. Better scores get better rates — rates vary by borrower profile and market conditions.
Minimum 12 months. Some programs require 24. Lenders average your monthly deposits over that period.
Yes. Non-QM loans carry higher rates due to reduced documentation. Rates vary by borrower profile and market conditions.
They can. Lenders flag unusual deposits. Consistent monthly deposits tell a cleaner income story.
Some lenders allow it with strong credit. More down typically means better terms and fewer lender overlays.