Bank Statement Loans for Self-Employed Individuals

Bank Statement Loans for Self-Employed Individuals

Bank Statement loans are a great loan program for self employed individuals who don’t show much income within their income tax returns but, deposit plenty of cash into either their business or personal bank accounts. We all know how challenging and frustrating it can be to qualify being self employed but we now offer this great option. There are either 12 month or 24 month bank statement loans where we average out the deposits over the determined period of time(minus expenses of usually 35%) and then, use the average as a monthly income. The bank statement loan option can be used for both purchases and refinances.

Bank Statement loans do not require any tax returns, tax transcripts, or pay stubs at time of submission but do require the following:

**Proof of minimum 2 years self-employment

**Profit and loss statement which coincides with the average deposits on bank statements or CPA Letter confirming self employment and 100% ownership(when using business bank statements)

**Satisfactory appraisal 

**Minimum 10% down required to purchase

**Max 85% Loan To Value for refinances

**Minimum required Fico is in the mid 600’s 

**Loans up to $3 Million

**2 years out of foreclosure or bankruptcy

Overall a great alternative for self employed borrowers. We are here to help if you’re interested in learning more about this loan product.

Getting started is easy. We offer very competitive rates, have great service, and always close on time.

Best Mortgage companies in Chula Vista

Best Mortgage companies in Chula Vista


Andre Enriques
License # NMLS 220937
DRE # 01713544

Contact Us

Andre Enriques Mortgage Banker - VA Loan Expert, a dba of Anchor Funding Inc

Chula Vista Office
Phone: (619) 323-2066
Cell (619) 208-6499
891 Kuhn Drive, Suite #204
Chula Vista, CA 91914

San Diego Office
Phone: (619) 208-6499
6336 Greenwich Dr, Suite A
San Diego, CA 92122

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Equal Housing Lender

NOT ALL APPLICANTS QUALIFY. First Priority Home Loans is a DBA of Anchor Funding, Inc. is licensed by The
California Bureau of Real Estate #01276087. FHA Non-supervised lender #00257-0000-5
NMLS #1626581 & #236419
NMLS Consumer Access
Loans made or arranged pursuant to the California Department of Financial Protection and Innovation
California Finance Lenders Law license number 603 L293