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San Diego County has a dense population of self-employed borrowers. Contractors, consultants, and business owners often can't qualify through traditional income verification.
Bank statement loans exist for exactly this situation. Your deposits tell the story your tax returns don't.
12–24 Months
Bank Statements Needed
660 Typical
Min Credit Score
10–20%
Min Down Payment
2 Years Preferred
Self-Employment Required
Bank Statement Loans in La Mesa
Lenders typically want 12 to 24 months of personal or business bank statements. They calculate your income from average monthly deposits, not what your Schedule C shows.
Credit requirements are stricter than conventional loans. Most lenders want a 660+ score, and down payments typically start at 10% to 20%.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in La Mesa.
San Diego County has a dense population of self-employed borrowers. Contractors, consultants, and business owners often can't qualify through traditional income verification.
Bank statement loans exist for exactly this situation. Your deposits tell the story your tax returns don't.
Lenders typically want 12 to 24 months of personal or business bank statements. They calculate your income from average monthly deposits, not what your Schedule C shows.
Bank statement loans are non-QM products. That means only specialty lenders and wholesale channels offer them — not your standard retail bank.
Rates vary by lender, deposit history, and loan size. Shopping across multiple wholesale lenders is the only way to find a competitive rate. Rates vary by borrower profile and market conditions.
The most common mistake: mixing personal and business deposits without a clear paper trail. Lenders will scrutinize large transfers between accounts.
If you run a business with high revenue but heavy expenses, a profit and loss statement loan might show stronger qualifying income than bank statements alone.
Bank statement loans aren't your only non-QM option. 1099 loans work well for gig workers and freelancers. Asset depletion loans work when you have significant savings but low income.
DSCR loans are better if you're buying an investment property in La Mesa. They skip income verification entirely and qualify based on rental income.
La Mesa sits in the heart of San Diego's inland market. Home prices here are lower than coastal San Diego, but still well above national averages.
Self-employment is common across San Diego County's tech, construction, and healthcare sectors. Bank statement loans fill a real gap for these borrowers in La Mesa.
Yes. Most lenders accept either. Business statements often require an expense factor — typically 50% — applied to deposits to calculate qualifying income.
Most lenders want at least two years of self-employment history. Some will approve with 12 months if your income is strong and consistent.
Yes. Non-QM loans carry higher rates than conventional loans. Rates vary by borrower profile and market conditions.
Most lenders start at 660. Higher scores get better pricing. Some programs go down to 620 with larger down payments.
Yes, but a DSCR loan is usually a better fit. It qualifies on rental income instead of your personal deposit history.
Lenders average your deposits over 12 to 24 months. Volatile income still qualifies — the average just needs to support the payment.