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Mission Viejo attracts a lot of self-employed borrowers. Entrepreneurs, consultants, and business owners live here — and most can't document income the way W-2 earners can.
Bank statement loans fill that gap. Instead of tax returns, lenders use 12 to 24 months of deposits to calculate your qualifying income.
12–24 Months
Bank Statements Required
620–660 Typical
Min Credit Score
10%
Min Down Payment
Non-QM
Loan Type
No
Tax Returns Required
Bank Statement Loans in Mission Viejo
Most lenders want to see consistent deposits over 12 to 24 months. They apply an expense factor — typically 50% for personal accounts — to estimate net income.
Credit score requirements vary by lender. Expect a minimum around 620 to 660. Down payments typically start at 10%, but better terms come with 20% or more down.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Mission Viejo.
Mission Viejo attracts a lot of self-employed borrowers. Entrepreneurs, consultants, and business owners live here — and most can't document income the way W-2 earners can.
Bank statement loans fill that gap. Instead of tax returns, lenders use 12 to 24 months of deposits to calculate your qualifying income.
Most lenders want to see consistent deposits over 12 to 24 months. They apply an expense factor — typically 50% for personal accounts — to estimate net income.
Bank statement loans are non-QM products. That means they don't follow Fannie Mae or Freddie Mac rules. Not every lender offers them.
We work with 200+ wholesale lenders, and a solid chunk specialize in non-QM. That gives us real options — not just one or two programs to squeeze you into.
The biggest mistake I see is borrowers using personal accounts when they have a dedicated business account. Personal accounts get hit with a higher expense ratio.
Business bank statements often qualify you for more income. If you have both, we can run the numbers on each and pick the stronger option.
If you get 1099s instead of W-2s, a 1099 loan might document income more cleanly. If you have strong assets but low income, asset depletion could work better.
Bank statement loans are the most common fit for business owners with high deposits. But the right call depends on your specific financial picture.
Mission Viejo is an affluent, established community in South Orange County. Home prices here push many buyers past conventional loan limits.
Bank statement loans can go well above conforming limits — making them practical for higher-priced purchases in this market. Rates vary by borrower profile and market conditions.
Yes, but lenders treat them differently. Business accounts typically get a lower expense ratio, which means more qualifying income.
Yes. Rates run higher than conventional loans because lenders take on more risk. Rates vary by borrower profile and market conditions.
Most lenders require at least two years of self-employment. Some non-QM lenders will accept 12 months with strong deposits.
Bank statement loans are non-QM, so they're not capped by conforming limits. Lender maximums vary — many go to $3M or higher.
Lenders average deposits over the statement period. Large swings can raise flags — consistency across 12 to 24 months matters most.