Modesto is a Central Valley city rich in agriculture, logistics, healthcare, and small business entrepreneurship. With popular areas like Sylvan, Village One, La Loma, and Downtown Modesto, the region offers solid opportunities for homeownership and real estate investment. But if you’re self-employed or operate a small business, qualifying for a traditional mortgage can be difficult due to income deductions on your tax return. That’s where Modesto Bank Statement Loans can help—using your actual bank deposits as proof of income instead of W-2s or tax filings.
At Independent Home Finance Inc., we help self-employed professionals, contractors, and freelancers throughout Modesto secure home financing that fits the way they earn. Whether you’re buying a starter home in College Area or refinancing an investment in East Modesto, our Modesto Bank Statement Loans offer the flexibility and accessibility 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 Modesto Bank Statement Loans?
These loans are tailor-made for borrowers who don’t fit the mold of traditional income documentation. Instead of relying on tax returns or W-2s, we assess 12 months of bank statements—either personal or business—to determine your qualifying income.
This is ideal for Modesto’s diverse workforce, including independent professionals in agriculture, real estate, healthcare, trades, and gig economy roles.
Who Qualifies for Modesto Bank Statement Loans?
Borrowers should be self-employed for at least two years, or have 20–24 months in business with relevant experience. A 12-month history of consistent deposits is required.
Common borrower profiles in Modesto include:
- Agricultural business owners and independent workers
- Real estate agents, brokers, and developers
- Construction and home improvement contractors
- Trucking, logistics, and delivery service operators
- Freelancers and side-business entrepreneurs
A 620+ credit score is ideal, and borrowers should be at least two years removed from major credit events like bankruptcy or foreclosure.
Common Bank Statement Loan Questions:
How the Modesto Bank Statement Loans Process Works
- Submit Bank Statements: Provide 12 months of personal or business account statements.
- Personal: 100% of deposits are considered income.
- Business: 50–65% of deposits are used depending on business type.
- Underwriting Review: A CPA letter may be required in some cases but can often be waived.
- Loan Funding: Use proceeds for purchases, refinances, or cash-out scenarios.
Why Choose Independent Home Finance Inc. for Modesto Bank Statement Loans?
From historic neighborhoods like College Area to newer developments in Village One, Modesto offers prime opportunities for self-employed buyers. Independent Home Finance Inc. understands the needs of non-traditional earners and provides fast, flexible loan approvals to help you make your next move.
Call (888) 315-7784 or Apply Online Now to get started with your Modesto mortgage.
How much do you qualify for?
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