Riverside, known for its historic charm and growing economy, is a hotspot for small business owners, gig workers, and entrepreneurs. With popular communities like Orangecrest, Canyon Crest, Mission Grove, and the Wood Streets attracting both families and investors, the real estate market remains competitive. However, many self-employed buyers find traditional loans hard to access due to write-offs that lower taxable income. Riverside Bank Statement Loans offer a solution—allowing you to qualify for a mortgage using your actual bank deposits, not W-2s or tax returns.
At Independent Home Finance Inc., we help Riverside homebuyers and real estate investors leverage their true earning power to purchase or refinance with confidence. Whether you’re investing in a duplex downtown, buying a family home in Orangecrest, or tapping into equity in La Sierra, our Riverside Bank Statement Loans provide a better way to qualify.
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 home prices in Irvine remaining strong and inventory competitive, self-employed borrowers can take advantage of these benefits to secure their ideal property without the roadblocks of traditional lending.
What Are Riverside Bank Statement Loans?
Bank Statement Loans are designed for self-employed individuals who earn steady income but can’t show it on paper due to tax deductions. Instead of tax returns, lenders assess 12 months of bank statements—either personal or business—to verify income.
This program is ideal for those working in Riverside’s robust healthcare, logistics, education, construction, and service industries.
Who Qualifies for Riverside Bank Statement Loans?
These loans are available to self-employed borrowers who have been in business for at least two years. Those with 20+ months of experience may also be considered with prior industry background and strong financials. You’ll need 12 months of statements showing regular income deposits.
Ideal Riverside borrowers include:
- Contractors, consultants, and business owners
- Realtors and commission-based professionals
- Gig economy and delivery drivers
- Healthcare practitioners and educators
- Retirees or individuals with alternative income sources
For better rates, a credit score of 620 or higher is recommended. Applicants must be at least two years removed from bankruptcies, foreclosures, or other major credit events.
Common Bank Statement Loan Questions:
How the Riverside Bank Statement Loans Process Works
- Submit Bank Statements: Provide 12 months of personal or business bank statements.
- Personal: 100% of deposits can be used as income.
- Business: Typically, 50–65% of deposits are considered.
- Underwriting Review: A CPA letter may be needed, though strong deposit history can often waive it.
- Loan Funding: Use funds to purchase, refinance, or take cash out.
Why Choose Independent Home Finance Inc. for Riverside Bank Statement Loans?
We know Riverside’s real estate landscape and the unique challenges self-employed buyers face. Independent Home Finance Inc. is dedicated to offering fast approvals, tailored loan solutions, and local insights for investors and business owners.
Whether you're targeting a craftsman near Downtown Riverside, a custom build in Alessandro Heights, or an investment property in Arlington, we’re ready to help.
Call (888) 315-7784 or Apply Online Now to get started on your Riverside mortgage today.
How much do you qualify for?
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