Flexible Financing for Pasadena’s Independent Professionals
Pasadena is one of Southern California’s most iconic cities, known for its historic charm, cultural landmarks, and thriving small business scene. From the elegant streets of Bungalow Heaven and Madison Heights to trendy districts like South Lake and Old Pasadena, the housing market here is vibrant and in demand. But for self-employed professionals, qualifying for a traditional mortgage can be difficult. Pasadena Bank Statement Loans offer an alternative—allowing borrowers to qualify based on bank deposits rather than tax returns or W-2s.
At Independent Home Finance Inc., we specialize in helping Pasadena’s business owners, freelancers, and gig workers access mortgage solutions that reflect their true income.
What Are Pasadena Bank Statement Loans?
Bank Statement Loans are designed for borrowers whose tax returns understate their income due to deductions or non-traditional earnings. Instead of tax documentation, lenders review 12 months of personal or business bank statements to assess income.
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 Pasadena Bank Statement Loans?
Borrowers must be self-employed for at least two years, or 20–24 months in business with relevant industry experience. A 12-month deposit history is required.
Common borrower profiles in Pasadena include:
- Realtors and creative professionals
- Contractors and consultants
- Boutique business and wellness owners
- Designers, freelancers, and digital marketers
- Retirees with alternative income streams
A 620+ credit score is typically required. Borrowers should be two years removed from major credit events such as bankruptcy or foreclosure.
How the Pasadena Bank Statement Loans Process Works
- Submit Bank Statements: Provide 12 months of personal or business statements.
- Personal: 100% of deposits may be counted.
- Business: 50–65% of deposits may be used, depending on expenses.
- Underwriting: A CPA letter may be requested but is often waived with strong deposits.
- Loan Use: Apply funds to home purchase, refinance, or cash-out needs.
Common Bank Statement Loan Questions:
Why Choose Independent Home Finance Inc. for Pasadena Bank Statement Loans?
Whether you’re purchasing a home in Linda Vista, refinancing in Bungalow Heaven, or investing near South Lake Avenue, our team delivers personalized service, fast approvals, and tailored loan options. Independent Home Finance Inc. is your trusted partner for self-employed financing.
Call (888) 315-7784 or Apply Online Now to explore your Pasadena Bank Statement Loan options today.
How much do you qualify for?
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