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San Buenaventura attracts a lot of self-employed buyers. Contractors, consultants, and small business owners are common here.
Traditional loans reject many of them. Bank statement loans exist specifically to fill that gap.
12–24 Months
Bank Statements Needed
620+
Min Credit Score
10%
Min Down Payment
No
Tax Returns Required
Bank Statement Loans in San Buenaventura
Lenders want 12 to 24 months of personal or business bank statements. They use deposits to calculate your income.
Expect a minimum credit score around 620 to 660. Down payment requirements typically start at 10 percent.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in San Buenaventura.
San Buenaventura attracts a lot of self-employed buyers. Contractors, consultants, and small business owners are common here.
Traditional loans reject many of them. Bank statement loans exist specifically to fill that gap.
Lenders want 12 to 24 months of personal or business bank statements. They use deposits to calculate your income.
Bank statement loans are non-QM products. Most retail banks don't offer them — you need a wholesale or non-QM lender.
We work with 200+ wholesale lenders. That means real options, not one bank's take-it-or-leave-it program.
The biggest mistake I see: borrowers mix personal and business deposits without a clean paper trail. That kills approvals fast.
Lenders apply an expense ratio to business accounts — often 50 percent. Personal accounts get full credit. Know which to submit.
Bank statement loans carry higher rates than conventional loans. That's the trade-off for skipping tax returns.
If you have 1099s, a 1099 loan might qualify you at better terms. Investors should look at DSCR loans instead.
Ventura's coastal economy runs on tourism, agriculture, and small business. Self-employment is the norm for a lot of buyers here.
That makes bank statement loans a practical tool in this market. W-2 income isn't the only story lenders should be hearing.
Yes. Lenders apply an expense ratio — often 50% — to business deposits. Personal statements may yield higher qualifying income.
Most lenders want at least two years of self-employment. Some will accept one year with strong documentation.
They average your monthly deposits over 12 or 24 months. Large one-time transfers can be excluded from the calculation.
Yes. Rates are higher than conventional loans. Rates vary by borrower profile and market conditions.
Yes, but a DSCR loan often works better for investment properties. It qualifies based on rental income instead.
Most lenders require at least 620. Stronger scores get better rates and lower down payment requirements.