Loading
Loading
Coronado is one of the most expensive zip codes in San Diego County. Self-employed buyers here need a loan that works with real income — not just what shows on a tax return.
Bank statement loans use 12 to 24 months of deposits to calculate qualifying income. That changes everything for business owners, consultants, and high-earning freelancers.
680 (typical)
Min Credit Score
12–24 months
Bank Statements Needed
2 years required
Self-Employed History
10–20% typical
Down Payment
Up to 12 months
Reserves Required
Bank Statement Loans in Coronado
Lenders typically want a 680+ credit score for bank statement loans. Some programs go lower, but you'll pay for it in rate.
You'll need to show consistent monthly deposits over the statement period. Large unexplained gaps or irregular cash flow make approvals harder.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Coronado.
Coronado is one of the most expensive zip codes in San Diego County. Self-employed buyers here need a loan that works with real income — not just what shows on a tax return.
Bank statement loans use 12 to 24 months of deposits to calculate qualifying income. That changes everything for business owners, consultants, and high-earning freelancers.
Lenders typically want a 680+ credit score for bank statement loans. Some programs go lower, but you'll pay for it in rate.
Bank statement loans are Non-QM products. That means they don't follow Fannie Mae or Freddie Mac guidelines — and most retail banks won't offer them.
Wholesale Non-QM lenders compete aggressively on this product. Rate and program terms vary significantly across lenders. Rates vary by borrower profile and market conditions.
The biggest mistake I see: borrowers mixing personal and business deposits without a clean paper trail. Lenders will apply an expense factor to business accounts — often 50% or more.
Using personal bank statements instead can preserve more qualifying income. The right call depends on how you run your business finances.
A 1099 loan works if most of your income comes from contract work. A P&L loan uses a CPA-prepared statement instead of bank records.
If you hold investment properties in Coronado, a DSCR loan qualifies on rental income — no personal income docs at all. Each path fits a different borrower profile.
Coronado properties routinely carry price tags that push well past conforming loan limits. Most bank statement borrowers here are financing jumbo amounts.
Non-QM jumbo programs exist, but lender appetite for large Non-QM loans varies. Reserve requirements — often 12 months of payments in the bank — are stricter at higher loan amounts.
Most lenders want 12 or 24 months. Longer history strengthens your file if income fluctuates.
Yes, but lenders apply an expense factor — often 50% or more. That reduces your qualifying income significantly.
Most programs start at 680. Lower scores are possible but come with higher rates and tighter terms.
Yes. Non-QM jumbo programs exist, but reserve requirements are stricter and fewer lenders participate.
Conventional loans require tax returns and follow Fannie Mae guidelines. Bank statement loans bypass that for self-employed borrowers.
Typically yes. Non-QM programs carry more lender risk, which is reflected in the rate. Rates vary by borrower profile and market conditions.