Bakersfield is a city on the rise, offering affordable real estate, growing job sectors, and a strong community of self-employed individuals. With its booming energy sector, agricultural businesses, and small business expansion, many local residents work independently or run their own companies. Yet qualifying for a traditional mortgage can be difficult when tax write-offs reduce reported income. Bakersfield Bank Statement Loans allow self-employed borrowers to qualify based on actual bank deposits—no W-2s or tax returns required.
At Independent Home Finance Inc., we help Bakersfield buyers and investors secure mortgage financing that aligns with how they earn. Whether you're purchasing in Seven Oaks, Laurelglen, The Oaks, or expanding your investment portfolio in Downtown Bakersfield, Bakersfield Bank Statement Loans offer the flexibility you need.
Key Benefits of a Bank Statement Loan
No Tax Returns Required
You don’t need W-2s or tax returns to qualify.
Higher
Loan Limits
Borrow more than with traditional mortgage options.
Flexible Income Verification
Approval is based on bank statements, not reported income.
Multiple Property Types Allowed
Finance primary homes, second homes, or investments.
With a Bank Statement Loan, self-employed borrowers can qualify using their actual cash flow, making homeownership more accessible.
What Are Bakersfield Bank Statement Loans?
A Bank Statement Loan is a mortgage option designed specifically for self-employed individuals. Instead of using tax returns, lenders assess income based on 12 months of personal or business bank statements. This approach is ideal for entrepreneurs, contractors, and small business owners who may have strong revenue but show limited taxable income.
Key Benefits of Bakersfield Bank Statement Loans:
- No tax returns required – Qualify using 12 months of bank statements.
- Higher loan amounts – Secure financing suitable for Bakersfield’s expanding real estate market.
- Flexible income documentation – Approval is based on real cash flow.
- Multiple property types allowed – Purchase or refinance primary homes, vacation homes, or investment properties.
From neighborhoods like Stockdale Estates to the emerging East Hills area, self-employed buyers can access the financing they need to capitalize on Bakersfield’s growing housing demand.
Who Qualifies for Bakersfield Bank Statement Loans?
This loan is ideal for self-employed professionals who have been in business for at least two years. Applicants with 20+ months of experience may qualify if they have industry history and solid financials. A 12-month record of consistent deposits is required.
Common Bakersfield borrower types include:
- Contractors and agricultural service providers
- Medical and wellness professionals
- Real estate agents and commission-based workers
- Gig workers and small business owners
- Retirees with alternative income sources
A credit score of 620 or higher is recommended for the best rates. Major credit events must be at least two years old to qualify.
Common Bank Statement Loan Questions:
How the Bakersfield Bank Statement Loans Process Works
- Submit Bank Statements: Provide 12 months of personal or business statements.
- Personal: 100% of deposits count as income.
- Business: 50–65% of deposits are used based on expenses and industry.
- Review & Underwriting: Some borrowers may need a CPA letter, but consistent income history often eliminates this step.
- Loan Use: Purchase, refinance, or cash-out refinance options available.
Why Choose Independent Home Finance Inc. for Bakersfield Bank Statement Loans?
At Independent Home Finance Inc., we understand the local market and the challenges self-employed borrowers face. Whether you're eyeing properties in Haggin Oaks, Brimhall Estates, or suburban growth areas like Rosedale, we offer flexible loan options, quick approvals, and personalized service.
Explore your options today—call (888) 315-7784 or Apply Online Now to begin your Bakersfield mortgage journey.
How much do you qualify for?
For Regular Information Follow Us On Social Media!
