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Hemet sits in the San Jacinto Valley — affordable by Riverside County standards. That matters for self-employed buyers who get priced out elsewhere.
Bank statement loans use 12 to 24 months of deposits to verify income. No W-2s. No tax returns showing write-offs that kill your qualifying income.
660+
Min Credit Score
12–24 Months
Statements Required
10%
Min Down Payment
Non-QM
Loan Type
Bank Statement Loans in Hemet
Lenders typically want 12 months of personal or business bank statements. Some require 24. Either way, consistent deposits matter more than your tax returns.
Credit requirements run higher than FHA — most lenders want a 660 or better. Down payments usually start at 10%, though 20% gets you better pricing.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Hemet.
Hemet sits in the San Jacinto Valley — affordable by Riverside County standards. That matters for self-employed buyers who get priced out elsewhere.
Bank statement loans use 12 to 24 months of deposits to verify income. No W-2s. No tax returns showing write-offs that kill your qualifying income.
Lenders typically want 12 months of personal or business bank statements. Some require 24. Either way, consistent deposits matter more than your tax returns.
Bank statement loans are non-QM products. Your local bank almost certainly doesn't offer them. You need a broker with access to wholesale non-QM lenders.
We work with 200+ wholesale lenders, including several with strong non-QM programs. That means real options — not just whoever happens to offer this product.
The biggest mistake self-employed borrowers make: assuming their deposits won't qualify. Run the 12-month average before you assume the answer is no.
Business bank statements require an expense factor — lenders discount deposits by 30–50% for business accounts. Personal accounts get a smaller haircut. Structure matters.
A 1099 loan works if most of your income shows on 1099 forms. A P&L loan uses an accountant-prepared statement instead of statements. Bank statement loans need neither.
DSCR loans skip income verification entirely — but those are for investment properties only. If you're buying a primary home in Hemet, bank statement is your best non-QM path.
Hemet has a mix of self-employed contractors, small business owners, and tradespeople. Many have strong cash flow that doesn't show on a tax return.
As of April 2026, Riverside County remains more affordable than LA or San Diego. That gives bank statement borrowers a real shot at buying without stretching loan amounts into jumbo territory.
Yes, but lenders apply an expense factor — usually 30–50% off deposits. Personal statements often produce higher qualifying income.
Yes. Non-QM loans carry a rate premium over conventional. Rates vary by borrower profile and market conditions.
Most lenders require a 660 minimum. Higher scores get better rates and lower down payment requirements.
Yes. Bank statement loans cover primary residences, second homes, and investment properties.
Most lenders require 12 months. Some non-QM programs require 24. We'll match you to programs that fit your documentation.
No. You still prove income — just through deposits, not tax returns. Full no-doc loans largely no longer exist.