Garden Grove, located in the heart of Orange County, is known for its strong small business community, cultural diversity, and desirable neighborhoods like West Garden Grove, Garden Park, Brookhurst, and Downtown Main Street. For the city’s self-employed residents, however, traditional mortgage qualifications can be difficult due to tax write-offs and fluctuating income. That’s where Garden Grove Bank Statement Loans come in—offering an alternative way to qualify using your bank deposits instead of tax returns or W-2s.
At Independent Home Finance Inc., we specialize in helping entrepreneurs, freelancers, and contractors throughout Garden Grove qualify for home financing that reflects how they really earn.
What Are Garden Grove Bank Statement Loans?
Bank Statement Loans are designed for self-employed borrowers who want to qualify based on cash flow shown in their bank statements. Lenders review 12 months of personal or business deposits to determine income, making this a great fit for those whose tax returns understate their earnings.
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.
Who Qualifies for Garden Grove Bank Statement Loans?
Borrowers should be self-employed for at least 2 years, or 20–24 months with prior experience in the same field. A consistent 12-month deposit history is required.
Common borrower profiles in Garden Grove include:
- Independent contractors and consultants
- Small business owners and food service operators
- Gig workers and delivery drivers
- Realtors, designers, and digital entrepreneurs
- Retirees with rental or portfolio income
A 620+ credit score is typically needed, and borrowers should be at least two years clear of major credit events like foreclosure or bankruptcy.
How the Garden Grove Bank Statement Loans Process Works
- Submit Bank Statements: Provide 12 months of personal or business statements.
- Personal: 100% of deposits count.
- Business: 50–65% of deposits are counted depending on expenses.
- Underwriting Review: A CPA letter may be requested but is often waived with consistent deposits.
- Funding: Use funds to purchase, refinance, or cash out on a property.
Common Bank Statement Loan Questions:
Why Choose Independent Home Finance Inc. for Garden Grove Bank Statement Loans?
From residential properties in Garden Park to mixed-use investment opportunities near Brookhurst, Garden Grove has something for every type of buyer. At Independent Home Finance Inc., we provide fast approvals, flexible loan options, and deep understanding of the challenges faced by self-employed borrowers.
Call (888) 315-7784 or Apply Online Now to explore your Garden Grove Bank Statement Loan options today
How much do you qualify for?
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