Ontario is one of Southern California’s fastest-growing cities, with a strong base of entrepreneurs, logistics professionals, and small business owners. From the vibrant retail around Ontario Mills to family neighborhoods in Creekside, Edenglen, and New Haven, Ontario offers a wide range of opportunities for homeowners and investors. But for many self-employed residents, qualifying for a traditional mortgage can be a challenge due to income-reducing tax write-offs. Ontario Bank Statement Loans offer a better way to get approved—using actual bank deposits instead of W-2s or tax returns.
At Independent Home Finance Inc., we specialize in helping Ontario’s self-employed workforce secure home loans with flexible guidelines and a streamlined process.
What Are Ontario Bank Statement Loans?
These loans are designed for borrowers who have consistent cash flow but may not show sufficient taxable income. Instead of using tax returns, lenders assess income based on 12 months of personal or business bank statements.
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 Ontario Bank Statement Loans?
Borrowers must be self-employed for at least two years, or 20+ months with relevant industry experience. A 12-month deposit history is required to qualify.
Typical borrower profiles include:
- Trucking and transportation professionals
- Business owners in retail, food service, or logistics
- Independent contractors and freelancers
- Real estate investors and gig workers
- Retirees with rental or portfolio income
A credit score of 620 or higher is recommended. Borrowers should also be two years removed from major credit events.
How the Ontario Bank Statement Loans Process Works
- Submit Bank Statements: Provide 12 months of personal or business statements.
- Personal: 100% of deposits considered income.
- Business: 50–65% of deposits used depending on industry expenses.
- Underwriting: CPA letters may be requested, though strong deposit history may eliminate the need.
- Loan Use: Use funds to purchase, refinance, or cash out on a property.
Common Bank Statement Loan Questions:
Why Choose Independent Home Finance Inc. for Ontario Bank Statement Loans?
Whether you’re buying a home near Ontario Ranch, refinancing in Creekside, or investing near the Convention Center, we provide personalized service and fast approvals. Independent Home Finance Inc. understands the challenges self-employed borrowers face and is committed to offering mortgage solutions that reflect real income—not just what’s reported to the IRS.
Call (888) 315-7784 or Apply Online Now to begin your journey with an Ontario Bank Statement Loan today
How much do you qualify for?
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