Self-Employed – No Tax Returns2018-11-30T16:42:42+00:00

Self-Employed – California Bank Statement Loan

No Tax Returns Needed to Qualify

The California Bank Statement Loan may be a good option for you if you have been self-employed for 2 years, maximize your tax deductions to minimize your tax liability, but have excellent cash flow. With this loan program, it is possible to document your income by adding up the deposits on your 12 most recent bank statements. The total deposit will replace the income reporting on your tax returns for qualifying.

California Bank Statement Loan

Program Features

  • Personal or business statements allowed
  • A self-employed borrower may supplement bank statement income with additional income derived from an asset amortization formula.
  • Credit depth has been reduced
  • Retirement and other income allowed
  • One borrower must be self-employed and may have a W-2 co-borrower
  • Jumbo loan amounts up to $3 million
  • Minimum loan amount $250,000
  • DTI up to 50%
  • Cash out up to $2,000,000
  • Minimum FICO 620

*A borrower with a 25% or greater ownership interest in a business is considered self- employed

Loan Terms

5/1 ARM – Interest only available

7/1 ARM

10/1 ARM

15 & 30 year fixed