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Jamestown's real estate market moves at its own pace in Tuolumne County. Self-employed buyers and business owners often find conventional underwriting too rigid for their income profile.
The county's median household income of $72,259 supports homes in the $400,000 to $550,000 range for most buyers. Bank Statement Loans work well for contractors, consultants, and small business owners whose income doesn't fit a W-2 mold.
600 (640+ preferred)
Minimum FICO
10–20%
Down Payment Range
45–60 days
Underwriting Timeline
12–24 months bank statements
Documentation
2–3% of loan amount
Closing Costs
Bank Statement Loans in Jamestown
Bank Statement Loans require a minimum 600 FICO score, though 640+ is standard. Down payments typically range from 10% to 20%. The lender reviews 12–24 months of bank statements to calculate qualifying income.
In Jamestown, the county's median household income of $72,259 means a typical buyer can support a loan around $450,000 to $500,000 with 15% down. Self-employed income must show consistency across the statement period.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Jamestown.
Jamestown's real estate market moves at its own pace in Tuolumne County. Self-employed buyers and business owners often find conventional underwriting too rigid for their income profile.
The county's median household income of $72,259 supports homes in the $400,000 to $550,000 range for most buyers. Bank Statement Loans work well for contractors, consultants, and small business owners whose income doesn't fit a W-2 mold.
Bank Statement Loans require a minimum 600 FICO score, though 640+ is standard. Down payments typically range from 10% to 20%. The lender reviews 12–24 months of bank statements to calculate qualifying income.
Bank Statement Loans are a niche product. Only a handful of lenders offer them, and most require a broker to originate. Retail banks rarely carry this program.
California brokers access Bank Statement Loans through portfolio lenders and specialty finance companies. These lenders price the program 0.5% to 1.0% above conventional rates to offset the documentation risk. Closing costs run 2% to 3% of the loan amount.
Bank Statement Loans make sense for Jamestown buyers who have strong deposits but weak tax returns. A contractor with $80,000 in annual deposits but only $40,000 in reported income qualifies here. Conventional lenders would deny that file immediately.
The tradeoff is rate and cost. You'll pay more in interest and closing fees than a W-2 borrower would. That's the real price of flexibility. If your tax returns show your true income, conventional is cheaper.
Conventional loans require full tax returns and documented income history. Bank Statement Loans skip the tax return entirely and use deposits instead.
FHA loans also require tax returns and are slower to close. Bank Statement Loans are faster and more flexible on income documentation. The rate is higher, but approval odds are much better for business owners.
Jamestown sits in the Sierra foothills with a small, tight-knit community. Many residents are self-employed — contractors, shop owners, and service providers.
The county's population of 54,873 means limited inventory and a slower-moving market. Self-employed buyers often have cash reserves from seasonal work.
No. Bank Statement Loans use 12–24 months of bank deposits instead of tax returns. The lender reviews your actual deposits to calculate qualifying income. No profit-and-loss statements or business licenses required.
Minimum 600 FICO, though 640+ is standard. The lender focuses more on deposit history and reserves than credit score. A 620 FICO with strong deposits may work; a 700 FICO with weak deposits may not.
Typically 10% to 20%. The exact amount depends on your deposit history, reserves, and the property value. Stronger deposits and larger reserves can support lower down payments.
45 to 60 days is normal. The lender manually reviews your bank statements to verify income. That takes longer than conventional underwriting, but it's faster than stated-income loans.
Yes. Rates run 0.5% to 1.0% higher, and closing costs are 2% to 3% of the loan. The extra cost reflects the documentation risk. If conventional denied you, the higher cost is worth the approval.