Today's Bank Statement Mortgage Rates

Bank Statement Mortgage Loans in California

Are you self employed in California or have a different source of income that isn’t always consistent? Do you have trouble getting banks to give you the time of day when it comes to getting approved for a home loan?

You’re not alone. Many self-employed borrowers or those who work on commission or other types of structures have issues getting banks to pay attention to them simply because they don’t fit the profile of a typical borrower. Banks are so risk-averse that they ‘ll shuffle their feet on pre-approval, and in a hot, ultra-competitive real estate market like California, that can mean the difference between getting the home of your dreams, and getting left behind.

Fortunately, a California bank statement loan can help.

What is a California Bank Statement Loan?

A California bank statement mortgage loan allows you to get qualified for a home loan with 12 months of bank statements and without the need for tax returns. These types of loans have amounts up to $3 million and can be used for your primary residence, as well as for purchasing a second home or an investment property.

The way a 12 month bank statement loan works is that the underwriter will calculate your qualified income by adding up the total of your bank statements across 12 months, and then dividing that number by 12 to get an approximate amount for your monthly income. That figure can then be used to determine how much you may qualify for in a home loan.

Plus, like traditional loans, you can choose between 15 or 30 year fixed rates, or 5/1, 71, or 10/1 ARMs. This is a great alternative to a conventional home loan or FHA loan.

Loan Features

  • No tax returns required
  • Qualified based on Personal or business statements for the most recent 12 months
  • Loan amount up to $3 million
  • 10% Down payment with no mortgage insurance
  • Owner occupied, 2nd home, Investment Property
  • Interest Only Loan Options
  • 30-year fixed option available
  • Non-Perfect Credit OK
  • Gift Funds for Down Payment
  • W2 co-borrower ok, income and employment traditionally verified
  • Retirement income is usable with verification (1099, award letter, etc)


  • 2 years of self-employment verified through CPA or business license
  • Low number of NSF or O/Ds
  • 12 month of mortgage or rental history
  • 3 month reserves

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Client Reviews

LBC Team went above and beyond to help us buy our new home! They were available for all of our questions, were prompt in their replies to us, and guided us...
Julia T.
Julia T.
08:40 22 Aug 21
Excellent team of great professionals! Superb customer service! They have successfully handled our purchase and refinance in a very short period of time,...
Elina L.
Elina L.
11:12 30 Jun 21
It is hard to describe how scary we were when decided to buy a house. We had no knowledge of the processing, prices, policies, calculations… When our agent referred us to Alex Shekhtam, from the first phone consultation we felt to be just in right hands. We are so blessed to have LBC Mortgage team! Our first house was purchased just because of these hardworking, reliable, efficient, responsive professionals! Recently we were able to refinance our house on good conditions, again, just because of them! Easy processing paperwork, knowledgeable advisors, pleasant communication make you feel special. We are so grateful to all and everyone from LBC Mortgage for making our dreams true!!!!
Lora Kochetkova
Lora Kochetkova
03:44 29 Jun 21
LBC Team is now our Number One Team! Their service was impeccable! We really appreciated the detailed explanations and daily reminders throughout the whole...
Galina S.
Galina S.
13:34 29 Mar 21
We were able to close on our first home even with a strict budget, and I credit it all to Alex and the staff at LBC Mortgage. We couldn’t have done it without you. Thank you so much!
Roger Billon
Roger Billon
06:07 25 Mar 21
Alex and his team were very attentive to our needs. We had some very specific criteria when looking for a home, and most mortgage companies, especially banks, were not even willing to listen to us -- but the team at LBC Mortgage was. They kept everything moving and were happy to answer our questions. We never felt like a burden to them, and that’s how customer service should be.
Kaylani paliotta
Kaylani paliotta
05:51 25 Mar 21
This was one of the last steps I needed to do in order to close on a home, and I had been putting it off because I had assumed it was a complicated and cumbersome process. I could not have been more wrong. Alex and everyone at LBC Mortgage made the process really simple and straightforward. Excellent company with people that really care about you.
Charles W
Charles W
06:52 23 Mar 21
If you are shopping online for mortgage or refinance, look no further. Seamless process and good communication. I am pleased with their fast response. They kept me updated with each phase of a process. Thank you LBC Mortgage.
Christiane BABINOT
Christiane BABINOT
07:40 03 Mar 21
People often ask me who I use for my own mortgages and refinances. Every time I recommend LBC Mortgage. They’re always working hard to stay one step ahead of the competition. To me, they’re more like family than my mortgage company. I’ve just closed my third deal with them and I can’t wait to see what the future holds.
Ahndray Hamilton
Ahndray Hamilton
09:06 18 Feb 21

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How Can LBC Mortgage Help?

At LBC Mortgage, we have years of experience helping qualified borrowers get a great deal on their home loan. We work with a vast network of lenders who understand the unique needs of non-traditional borrowers such as the self-employed or those who have issues with their income documentation. To that end, we’re prepared to do the research and legwork needed to help you get the best possible deal on your bank statement loan in California.

That means taking the time to understand your goals for homeownership as well as your budget and other unique circumstances. It also means answering all of your questions to the best of our abilities. Even if you’ve been turned down for traditional mortgages by banks or other lending institutions, we invite you to contact us — we may be able to help you secure affordable financing where others could not.

Plus, 12 month bank statement loans are just one of the many types of loans we can help with. We also work with VOE loans, asset depletion loans and many other types of non-traditional loans that welcome those with alternative financing when a traditional mortgage might not fit your needs. So contact us today to learn more and learn how we can help you get approved and get financed.

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