Alternative Home Financing for San Francisco’s Self-Employed Professionals
San Francisco’s booming tech industry, innovative startups, and creative professionals make it a hub for self-employed individuals. However, tax write-offs and fluctuating income often make it difficult for entrepreneurs and freelancers to qualify for traditional mortgages. San Francisco Bank Statement Loans offer a flexible alternative, allowing borrowers to use personal or business bank deposits instead of W-2s or tax returns to verify income.
At Independent Home Finance Inc., we specialize in securing financing for self-employed San Francisco residents. Whether you’re buying a high-rise condo in SoMa, a Victorian in the Mission District, or refinancing an existing mortgage, San Francisco Bank Statement Loans provide the financial 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.
San Francisco’s competitive real estate market demands flexible financing options. San Francisco Bank Statement Loans make it easier for self-employed buyers to qualify without the constraints of conventional lending.
What Are San Francisco Bank Statement Loans?
A Bank Statement Loan is designed for self-employed individuals who don’t have traditional W-2 income documentation. Instead of relying on tax returns, lenders verify income based on 12 months of personal or business bank statements. This program is particularly beneficial for self-employed professionals in San Francisco, where high property values often require alternative lending solutions.
Who Qualifies for San Francisco Bank Statement Loans?
This program is designed for self-employed individuals who have been in business for at least two years. Those with 20+ months of experience and a strong financial background may also qualify. Borrowers must submit 12 months of bank statements to demonstrate stable income.
Eligible candidates include:
- Entrepreneurs and small business owners in tech, finance, and creative industries.
- Real estate professionals, consultants, and commission-based salespeople.
- Independent contractors, gig workers, and freelancers.
- 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 San Francisco 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 strong 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 San Francisco Bank Statement Loans?
Navigating San Francisco’s expensive and fast-moving real estate market requires a mortgage solution that works for self-employed borrowers. Independent Home Finance Inc. offers quick approvals, expert guidance, and flexible financing solutions tailored to entrepreneurs, freelancers, and business owners.
Looking for financing in San Francisco? Call (888) 315-7784 or Apply Online Now to get started today.
How much do you qualify for?
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