California Bank Statement Mortgage Loans

Are you self employed in California or have a different source of income that isn’t always consistent? Do you have trouble getting banks to give you the time of day when it comes to getting approved for a home loan?

You’re not alone. Many self-employed borrowers or those who work on commission or other types of structures have issues getting banks to pay attention to them simply because they don’t fit the profile of a typical borrower. Banks are so risk-averse that they ‘ll shuffle their feet on pre-approval, and in a hot, ultra-competitive real estate market like California, that can mean the difference between getting the home of your dreams, and getting left behind.

Fortunately, a California bank statement loan can help.

What is a California Bank Statement Loan?

California bank statement mortgage loan allows you to get qualified for a home loan with 12 months of bank statements and without the need for tax returns. These types of loans have amounts up to $3 million and can be used for your primary residence, as well as for purchasing a second home or an investment property.

The way a 12 month bank statement loan works is that the underwriter will calculate your qualified income by adding up the total of your bank statements across 12 months, and then dividing that number by 12 to get an approximate amount for your monthly income. That figure can then be used to determine how much you may qualify for in a home loan.

Plus, like traditional loans, you can choose between 15 or 30 year fixed rates, or 5/1, 71, or 10/1 ARMs. This is a great alternative to a conventional home loan or FHA loan.

Loan Features

  • No tax returns required
  • Qualified based on Personal or business statements for the most recent 12 months
  • Loan amount up to $3 million
  • 10% Down payment with no mortgage insurance
  • Owner occupied, 2nd home, Investment Property
  • Interest Only Loan Options
  • 30-year fixed option available
  • Non-Perfect Credit OK
  • Gift Funds for Down Payment
  • W2 co-borrower ok, income and employment traditionally verified
  • Retirement income is usable with verification (1099, award letter, etc)


  • 2 years of self-employment verified through CPA or business license
  • Low number of NSF or O/Ds
  • 12 month of mortgage or rental history
  • 3 month reserves

How Can LBC Mortgage Help?

At LBC Mortgage, we have years of experience helping qualified borrowers get a great deal on their home loan. We work with a vast network of lenders who understand the unique needs of non-traditional borrowers such as the self-employed or those who have issues with their income documentation. To that end, we’re prepared to do the research and legwork needed to help you get the best possible deal on your bank statement loan in California.

That means taking the time to understand your goals for homeownership as well as your budget and other unique circumstances. It also means answering all of your questions to the best of our abilities. Even if you’ve been turned down for traditional mortgages by banks or other lending institutions, we invite you to contact us — we may be able to help you secure affordable financing where others could not.

Plus, 12 month bank statement loans are just one of the many types of loans we can help with. We also work with VOE loansasset depletion loans and many other types of non-traditional loans that welcome those with alternative financing when a traditional mortgage might not fit your needs. So contact us today to learn more and learn how we can help you get approved and get financed.