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Pacifica's coastal real estate draws self-employed buyers who need flexible income documentation. Bank statement loans let you qualify using 12 to 24 months of deposits instead of tax returns.
Self-employed borrowers often write off significant income, making W-2 qualification nearly impossible. This loan type evaluates actual cash flow, not taxable income.
Bank Statement Loans in Pacifica
You need 12 or 24 months of business or personal bank statements showing consistent deposits. Lenders calculate income by averaging total deposits, then applying a 25-50% expense factor.
Credit requirements start around 640, though rates improve significantly at 680+. Down payments typically range from 10% to 20% depending on property type and credit profile.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Pacifica.
Pacifica's coastal real estate draws self-employed buyers who need flexible income documentation. Bank statement loans let you qualify using 12 to 24 months of deposits instead of tax returns.
Self-employed borrowers often write off significant income, making W-2 qualification nearly impossible. This loan type evaluates actual cash flow, not taxable income.
You need 12 or 24 months of business or personal bank statements showing consistent deposits. Lenders calculate income by averaging total deposits, then applying a 25-50% expense factor.
Not all non-QM lenders price bank statement loans the same. Some use 12-month statements with higher expense ratios, others prefer 24 months for lower pricing.
We compare underwriting overlays across 200+ wholesale lenders to find which one accepts your deposit patterns. A lender that works for a contractor may reject a real estate agent's statements.
Clean up your bank statements before applying. Large one-time deposits require explanation letters that slow approval. Consistent monthly patterns close faster than erratic cash flow.
Some lenders now accept cryptocurrency asset holdings as reserves following new non-QM product launches as of February 2026. If you hold verified crypto, it may strengthen your application beyond traditional reserves.
1099 loans work if you have consistent contracts, but bank statement loans handle irregular freelance income better. Profit & loss programs require a CPA, adding cost and time.
If you're buying investment property in Pacifica, DSCR loans ignore your income entirely and qualify on rental cash flow. That often beats bank statement approval for rental purchases.
Pacifica's coastal location attracts self-employed tech consultants, creatives, and remote business owners. Many show strong bank deposits but minimal taxable income after deductions.
Properties near Sharp Park or Rockaway Beach carry higher price points than Linda Mar. Your deposit history needs to support these purchase ranges even with 20% down.
Most lenders accept either, but mixing accounts complicates underwriting. Using one account type typically processes faster and prices better.
Lenders average deposits over 12 or 24 months. Larger swings may require explanation letters, but seasonal businesses qualify regularly using this program.
They total deposits, divide by months reviewed, then reduce by 25-50% for estimated expenses. The resulting figure becomes your qualifying income.
Yes. Rates run 1-2% higher because lenders accept more risk with alternative documentation. Rates vary by borrower profile and market conditions.
Absolutely. Cash-out and rate-term refinances both work. You need the same 12-24 months of statements showing adequate income to support the new loan.