Simi Valley, tucked in southeastern Ventura County, is a popular destination for families, entrepreneurs, and professionals looking for space, safety, and value. With established neighborhoods like Wood Ranch, Texas Tract, Bridle Path, and Big Sky, the city offers something for every type of homebuyer. But for self-employed residents, qualifying for a conventional loan can be difficult due to tax deductions and variable income. Simi Valley Bank Statement Loans provide a smart alternative—qualifying borrowers based on bank deposits instead of W-2s or tax returns.
At Independent Home Finance Inc., we help self-employed individuals in Simi Valley access mortgage solutions that reflect real income—not just what’s reported on paper.
What Are Simi Valley Bank Statement Loans?
Bank Statement Loans allow borrowers to use 12 months of personal or business bank statements to demonstrate income and qualify for a home loan. These are especially useful for entrepreneurs, freelancers, and others who have solid cash flow but reduced taxable 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 Simi Valley Bank Statement Loans?
Borrowers must be self-employed for at least 2 years, or 20–24 months in business with applicable experience. A 12-month deposit history is required.
Typical borrower profiles in Simi Valley include:
- Contractors and independent tradespeople
- Real estate agents and property managers
- Freelancers, consultants, and creative professionals
- Small business and service industry owners
- Retirees with alternative income sources
A credit score of 620+ is typically required. Borrowers should be two years removed from major credit events such as foreclosure or bankruptcy.
How the Simi Valley Bank Statement Loans Process Works
- Submit 12 Months of Bank Statements:
- Personal Accounts: 100% of deposits used.
- Business Accounts: 50–65% of deposits used depending on expense ratios.
- Underwriting: CPA letters may be required but are often waived.
- Loan Use: Approved funds can be used for a home purchase, refinance, or cash-out loan.
Common Bank Statement Loan Questions:
Why Choose Independent Home Finance Inc. for Simi Valley Bank Statement Loans?
Whether you're purchasing in Wood Ranch, refinancing in Big Sky, or investing near Royal Avenue, we tailor mortgage solutions for the self-employed. Independent Home Finance Inc. offers quick approvals, real-world underwriting, and personalized guidance every step of the way.
Call (888) 315-7784 or Apply Online Now to start your journey with a Simi Valley Bank Statement Loan today.
How much do you qualify for?
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