Alternative Home Financing for Long Beach’s Self-Employed Professionals
Long Beach is home to a diverse workforce, from entrepreneurs and small business owners to independent professionals and gig workers. While these individuals often have strong cash flow, tax write-offs can lower their reported income, making it difficult to qualify for traditional mortgages. Long Beach Bank Statement Loans provide a flexible financing alternative, allowing borrowers to qualify using personal or business bank deposits instead of W-2s or tax returns.
At Independent Home Finance Inc., we specialize in helping self-employed Long Beach residents secure home financing that suits their unique financial situation. Whether you’re purchasing a home near the waterfront, refinancing in Belmont Shore, or investing in real estate, Long Beach Bank Statement Loans provide 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 Long Beach’s growing real estate market and coastal appeal, Long Beach Bank Statement Loans provide a great solution for self-employed individuals looking to buy or refinance their homes.
What Are Long Beach Bank Statement Loans?
A Bank Statement Loan is designed for self-employed borrowers who lack traditional W-2 income documentation. Instead of relying on tax returns, lenders assess income based on 12 months of personal or business bank statements. This program is particularly beneficial in Long Beach, where entrepreneurs, creatives, and independent contractors often have non-traditional income sources.
Who Qualifies for Long Beach Bank Statement Loans?
This program is ideal for self-employed individuals who have been in business for at least two years. Those with 20+ months of experience and strong financials may also qualify. Borrowers must provide 12 months of bank statements to demonstrate a consistent income.
Eligible candidates include:
- Entrepreneurs and small business owners in retail, hospitality, and creative industries.
- Independent contractors, freelancers, and gig workers.
- Real estate agents, consultants, and commission-based sales professionals.
- Retirees with alternative income sources.
- Borrowers with significant tax deductions that reduce taxable income.
For the best loan terms, a credit score of 620+ is recommended. Borrowers should also be two years removed from major credit events such as foreclosure or bankruptcy.
Common Bank Statement Loan Questions:
How the Long Beach Bank Statement Loans Process Works
- Income Verification: Submit 12 months of personal or business bank statements.
- Personal bank statements: 100% of deposits count toward income qualification.
- Business bank statements: 50-65% of deposits are considered, depending on expenses.
- Approval & Underwriting: A CPA letter may be required, but steady deposit history may waive this requirement.
- Funding: Once approved, funds can be used for home purchases, refinancing, or cash-out loans.
Why Choose Independent Home Finance Inc. for Long Beach Bank Statement Loans?
Long Beach’s real estate market requires mortgage solutions that work for self-employed borrowers. Independent Home Finance Inc. offers fast approvals, expert guidance, and flexible financing options designed for entrepreneurs, freelancers, and business owners.
Looking for financing in Long Beach? Call (888) 315-7784 or Apply Online Now to get started today.
How much do you qualify for?
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