Loading
Loading
Morgan Hill sits in Santa Clara County — one of California's most self-employed-heavy markets. Founders, contractors, and business owners are everywhere here.
Traditional W-2 income rarely tells the full story for these borrowers. Bank statement loans fill that gap without requiring tax returns.
680 (typical)
Min Credit Score
12–24 months
Statements Required
10–20% typical
Down Payment
Up to $3M
Max Loan Amount
Fixed & ARM options
Rate Type
Bank Statement Loans in Morgan Hill
You'll need 12 to 24 months of personal or business bank statements. Lenders use those deposits to calculate your qualifying income.
Most lenders want a 680+ credit score and 10-20% down. Debt-to-income limits vary, but your statements do the heavy lifting.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Morgan Hill.
Morgan Hill sits in Santa Clara County — one of California's most self-employed-heavy markets. Founders, contractors, and business owners are everywhere here.
Traditional W-2 income rarely tells the full story for these borrowers. Bank statement loans fill that gap without requiring tax returns.
You'll need 12 to 24 months of personal or business bank statements. Lenders use those deposits to calculate your qualifying income.
Bank statement loans are non-QM products. Not every lender offers them — you won't find these at most retail banks.
Wholesale lenders specialize in non-QM. As a broker, we access 200+ of them to find the program that fits your deposit history and down payment.
The biggest mistake self-employed borrowers make: mixing personal and business deposits. Keep accounts clean before you apply.
Lenders average your deposits over 12 or 24 months. A bad quarter two years ago can still drag your qualifying income down.
A 1099 loan works better if your income is mostly contract-based. A P&L loan fits borrowers with a clean profit-and-loss statement prepared by a CPA.
Bank statement loans win when your deposits are consistent but your tax returns show losses. That's the self-employed sweet spot.
Morgan Hill has a strong base of small business owners, agriculture operators, and tech consultants. Most carry write-offs that crush their taxable income.
Santa Clara County home prices demand high loan amounts. Bank statement loans go up to $3M with the right lender — enough to compete here.
Yes. Most lenders accept business statements but apply an expense factor — typically 50%. Your usable income is reduced to account for business costs.
Most lenders require at least two years of self-employment. Some allow one year with strong statements and a solid credit profile.
Yes, typically. Non-QM loans carry more lender risk. Rates vary by borrower profile and market conditions.
Lenders average all 12 or 24 months. Gaps and slow months pull your qualifying income down — that's the honest reality.
Yes. These loans work for purchases and refinances in Santa Clara County. Loan limits vary by lender program.