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Bank Statement Loans in Rio Vista
Rio Vista's waterfront properties and rural spreads attract self-employed buyers who write off everything. Traditional lenders reject them despite healthy bank accounts.
Bank statement loans skip tax returns entirely. Lenders review 12-24 months of deposits to calculate qualifying income.
This works for contractors, consultants, and business owners with substantial tax deductions. Your deposits tell the real story.
Most lenders want 12-24 months of business or personal bank statements. They average your deposits and apply a percentage (typically 50-75%) as qualifying income.
Credit minimums run 620-680 depending on loan size. Down payments start at 10-15% for primary homes, 20-25% for investment properties.
You need to be self-employed for at least two years. Lenders verify this through business licenses or 1099s showing ongoing work.
Only non-QM lenders offer bank statement programs. Your local credit union won't touch these—they're stuck in conventional guidelines.
We access 30+ non-QM lenders who compete on deposit calculation methods. Some use 100% of deposits, others average after expenses.
Rate spreads between lenders hit 1-2% on identical scenarios. Shopping matters because one underwriter's calculation doubles your buying power.
Clean up your bank statements before we pull them. Lenders scrutinize NSFs, gambling deposits, and cash transactions that look like unreported income.
Business accounts qualify you faster than personal accounts. If you mix personal and business funds, expect longer underwriting and possible denial.
Seasonal businesses need 24 months of statements to smooth income fluctuations. Twelve months doesn't work for Rio Vista fishing guides or harvest-dependent trades.
Rates run 1-3% above conventional loans. Expect 8-10% in current markets versus 7% conventional. Rates vary by borrower profile and market conditions.
1099 loans work if you have clean profit and loss statements. Bank statement loans sidestep P&L preparation entirely—your deposits are your documentation.
DSCR loans make sense for Rio Vista rental properties when you want to avoid personal income review altogether. Bank statement loans still require your income proof.
Asset depletion divides your liquid assets by 360 months to create qualifying income. Only works with substantial investment accounts—think $2M+ to buy a $500K home.
Rio Vista's Delta location means flood zone properties get extra scrutiny. Bank statement lenders already charge higher rates—add flood insurance and some walk away.
Waterfront lots and acreage parcels appraise inconsistently here. Lenders cap loan amounts at $2-3M for bank statement programs, which covers most Rio Vista inventory.
Solano County processes permits slower than urban counties. New construction and major rehabs trigger completion timelines that complicate non-QM closings.
Yes, if deposits clearly show business income. Lenders want to see consistent business-related transactions, not just salary transfers or random deposits.
Underwriters exclude non-recurring deposits from income calculations. Document windfalls with letters explaining they're not regular income to avoid confusion.
No. Lenders subtract transfers between your own accounts, refunds, and non-income deposits. Only true business revenue counts toward qualification.
Expect 21-30 days from application to clear-to-close. Rural appraisals and non-QM underwriting both add time compared to conventional loans.
Absolutely. Many self-employed borrowers buy with W-2 co-borrowers, then refinance solo using bank statements once they need the co-borrower off title.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.