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San Diego County completed its biggest year of low-income housing construction. National City sits at the heart of this activity, with steady home purchases across the region.
The county's median household income of $102,285 supports real purchasing power here. Bank Statement Loans let self-employed borrowers qualify using bank deposits instead of tax returns.
640
Minimum FICO
24 months bank statements
Documentation
10% to 25%
Down payment range
30–40 days
Underwriting timeline
Bank Statement Loans in National City
Bank Statement Loans typically require 24 months of bank statements showing consistent deposits. Most lenders ask for a 640+ FICO score, though some accept 620+ with compensating factors.
Down payments range from 10% to 25% depending on the lender and loan amount. The county's median household income of $102,285 translates to real purchasing power in National City.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in National City.
San Diego County completed its biggest year of low-income housing construction. National City sits at the heart of this activity, with steady home purchases across the region.
The county's median household income of $102,285 supports real purchasing power here. Bank Statement Loans let self-employed borrowers qualify using bank deposits instead of tax returns.
Bank Statement Loans typically require 24 months of bank statements showing consistent deposits. Most lenders ask for a 640+ FICO score, though some accept 620+ with compensating factors.
Bank Statement Loans are offered by a smaller subset of California lenders. Brokers access portfolio lenders and credit unions that specialize in self-employed borrowers.
Underwriting takes 5–7 business days longer than conventional loans. Lenders verify deposits and confirm consistent income patterns manually.
Bank Statement Loans work best for National City borrowers with strong deposit history. A contractor with $8,000 monthly deposits over two years qualifies easily, even if Schedule C shows losses.
They don't work well for borrowers with inconsistent deposits or those seeking the absolute lowest rate. If your bank statements show flat or declining deposits, call to discuss alternatives.
Bank Statement Loans use actual deposits, while stated-income relies on your word. Bank Statement rates typically run 0.125% to 0.25% lower because documentation is stronger.
FHA requires two years of tax returns and allows 3.5% down. Bank Statement skips tax returns but typically asks for 10%+ down instead.
The team behind popular Chula Vista cafe Galū is opening a sister location in City Heights this fall. That kind of neighborhood investment signals growing foot traffic and commercial activity.
San Diego County is pursuing exemptions to state transit-oriented housing rules. For homebuyers, that means predictable neighborhood character and fewer surprise high-rise projects.
No. Bank Statement Loans use 24 months of bank deposits to prove income instead. This is the core advantage for self-employed borrowers.
Most lenders require 640+ FICO, though some accept 620+ with strong compensating factors. Call to discuss your specific credit profile.
Bank Statement Loans typically require 10% to 25% down. Some portfolio lenders go lower with strong deposit history and reserves.
Expect 5–7 business days longer than conventional loans. Total timeline is usually 30–40 days from application to clear-to-close.
Yes. The 2026 conforming limit is $1,104,000. Bank Statement Loans are available up to that amount if you meet requirements.