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Bank Statement Loans in San Juan Bautista
San Juan Bautista's historic charm attracts self-employed buyers, from artisans to vineyard managers. Traditional W-2 income docs don't work for this crowd.
Bank statement loans skip tax returns entirely. Lenders review 12 to 24 months of deposits to calculate qualifying income. That's it.
Expect minimum 620 credit scores, though 680+ gets better pricing. Most lenders want 10% to 20% down for primary residences.
Business and personal accounts both work. Lenders average deposits over the statement period, then apply 50% to 100% as qualifying income based on your business structure.
Not every lender touches bank statement programs. We work with 200+ wholesale partners, but only about 30 price these loans competitively.
Each lender calculates income differently. One might use 75% of deposits, another 100%. That variance changes your buying power by tens of thousands.
Clean up your bank statements before applying. Large irregular deposits trigger underwriter questions. Business expenses like materials and inventory reduce qualifying income.
Most self-employed borrowers have write-offs that tank their tax return income. Bank statement loans solve that — but rates run 1% to 2% higher than conventional.
1099 loans work if you have clean tax records. Profit and loss statement loans need a CPA letter. Bank statements require neither.
DSCR loans work for investment properties only. If you're buying a primary home in San Juan Bautista as a self-employed borrower, bank statement loans are usually the cleanest path.
San Juan Bautista sits in San Benito County, where agricultural and small business income dominates. That means lots of buyers who can't use traditional financing.
Historic property restrictions and smaller lot sizes sometimes complicate appraisals. Work with a broker who knows which lenders underwrite San Benito properties without hassle.
Yes, but personal statements often show cleaner deposit patterns. Most borrowers submit both to maximize qualifying income.
Lenders combine statements from all accounts. Just expect extra scrutiny on transfers between accounts to avoid double-counting income.
Bank statement loans add 5 to 10 days versus conventional. Underwriters manually review every deposit, which takes time.
No. Lenders exclude transfers, returns, and one-time windfalls. Only recurring business revenue counts toward qualifying income.
Absolutely. Rate-and-term refis work the same as purchases. Cash-out refis require 20% to 30% equity depending on the lender.
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.