Alternative Financing for Lancaster’s Entrepreneurial Community
Lancaster, located in the Antelope Valley region of northern Los Angeles County, is an affordable and fast-growing city with a strong base of self-employed residents. With neighborhoods like West Lancaster, Quartz Hill, East Lancaster, and Desert View Highlands, the local housing market offers both residential and investment opportunities. But for independent professionals, gig workers, and business owners, qualifying for a conventional mortgage can be challenging due to reduced taxable income from write-offs. Lancaster Bank Statement Loans provide a flexible solution—helping borrowers qualify using bank deposits instead of W-2s or tax returns.
At Independent Home Finance Inc., we understand how to structure mortgage solutions for self-employed borrowers throughout Lancaster and the Antelope Valley.
What Are Lancaster Bank Statement Loans?
Bank Statement Loans are designed for self-employed individuals who earn strong income but show lower adjusted gross income due to deductions. Lenders assess 12 months of personal or business bank statements to verify income, allowing borrowers to qualify more easily than through traditional underwriting.
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 Lancaster Bank Statement Loans?
Borrowers must be self-employed for at least 2 years, or 20–24 months with related experience. A 12-month deposit history is required.
Common borrower types in Lancaster include:
- Contractors and tradespeople
- Gig economy workers and drivers
- Real estate investors and property managers
- Small business owners and consultants
- Freelancers and independent creatives
A credit score of 620+ is recommended. Borrowers must also be at least two years removed from bankruptcy or foreclosure.
How the Lancaster Bank Statement Loans Process Works
- Submit Bank Statements: Provide 12 months of personal or business deposits.
- Personal: 100% of deposits may be considered income.
- Business: 50–65% of deposits are used depending on expenses.
- Underwriting: A CPA letter may be needed but is often waived.
- Loan Use: Approved funds can be used for home purchases, refinancing, or cash-out options.
Common Bank Statement Loan Questions:
Why Choose Independent Home Finance Inc. for Lancaster Bank Statement Loans?
Whether you’re buying in West Lancaster, renovating in Quartz Hill, or investing in a duplex in East Lancaster, we’re here to help. At Independent Home Finance Inc., we offer fast approvals, custom loan programs, and expert guidance for self-employed borrowers.
Call (888) 315-7784 or Apply Online Now to learn more about Lancaster Bank Statement Loans.
How much do you qualify for?
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