Bank Statement Loans in California

California has one of the top economies in the world, making it attractive for entrepreneurs and startups, but traditional lending options make it difficult for them to qualify. This can limit home buying opportunities for business owners and those who are self-employed.

The BLS reported that California’s total employment in July 2025 was approximately 18,763,000, suggesting that 11.7% of the state’s workforce is self-employed.

With a bank statement loan, borrowers can make their dreams a reality. Bank statement loans in California are flexible and designed with self-employed individuals and business owners in mind. Learn more about this loan option to see if it’s the right fit for you.

What Is a Bank Statement Loan?

Known as a self-employed mortgage, bank statement loans are different from conventional loan options that require borrowers to provide proof of income based on tax returns and financial statements. As a type of no-income verification mortgage, bank statement loans allow borrowers to use their bank statements instead of pay stubs, W-2s, and tax information to show lenders they’re capable of paying back the loan.

Business owners and self-employed workers seek out low or no doc loans in California like bank statement loans because they allow them to provide proof of income while still claiming deductions for business expenses on their taxes. By providing lenders with a more accurate picture of their income, borrowers can typically qualify for higher loan amounts and more beneficial terms.

If you think a bank statement loan might be right for you, speak to one of our loan specialists today to learn more about this type of mortgage and other non-QM loan options.

Who Are Bank Statement Loans for?

California bank statement loans are ideal for self-employed professionals and business owners across various industries, including:

• Entrepreneurs
• Gig economy workers
• Realtors
• Retirees
• Consultants
• Content creators
• Social media influencers
• Independent contractors

For individuals who find that a bank statement home loan might not be the right option for them, our team can also help them find more suitable loan options:

• Asset-based loans: Asset-based loans allow borrowers to leverage the value of their assets to secure a loan instead of traditional qualification requirements.
• DSCR loans: DSCR loans are based on a property’s cash flow and are approved based on the debt service coverage ratio. Griffin Funding allows for DSCRs as low as .75.
• VA loans: Our team specializes in VA loans, which are mortgages for veterans and active-duty service members. These loans are backed by the federal government and are meant to make finding a home loan easier for veterans.
• FHA loans: These loans offer more flexible qualification requirements and lower down payment options (as little as 3.5% down). While they still require income verification, FHA loans often have more forgiving credit requirements.
• Home Equity loans: These loans allow you to tap the equity in your home without having to refinance your first mortgage. Home equity loans also allow you to use your bank statement deposits as proof of income.

Types of CA Bank Statement Loans

We offer the following types of bank statement home loans in California:

• Bank statement purchase loan: Purchase a primary residence, vacation home, or investment property using bank statements rather than tax returns.
• Bank statement refinance loan: Use bank statements to qualify for a refinance and lock in a better rate or leverage your home’s equity with a cash-out refinance.
• Bank statement home equity loan: Tap into your home’s equity and use bank statements as proof of income.

As far as qualifying income, you can use either personal or business bank statements to secure a bank statement loan:

• Personal Bank Statements: Qualify on 12 or 24 months’ worth of bank statements. We count 100% of deposits as income.
• Business Bank Statements: Qualify on 12 or 24 months’ worth of bank statements. We count 50% of the deposits as income.

Where Are Bank Statement Loans Available in CA?

We offer bank statement loans across the state of California. Some of the cities we serve include:

• Los Angeles
• San Diego
• San Francisco
• San Jose
• Palo Alto
• Newport Beach
• Santa Barbara
• Santa Monica
• Beverly Hills
• Santa Rosa
• Anaheim
• San Luis Obispo

We’re also proud to offer loans for borrowers in the following states:

Who Qualifies for a Bank Statement Loan?

In order to qualify for a bank statement loan in California, our team will need to verify information about you including:

• Whether you’ve been self-employed for at least two years
• Can provide 10% of a down payment or more (10% down with a 680 credit score or higher)
• Have a credit score of at least 620
• Are able to prove that you’re a business owner

To be eligible for a bank statement loan in California, you generally need to fall into one of the following categories:

• Self-employed
• Business owner
• Retiree / Investor

If you think you may qualify for a bank statement mortgage loan in California based on this criteria, get in touch to take the first step towards getting a mortgage.

Not sure if a bank statement home loan in California is right for you? Download the Griffin Gold app to compare your mortgage loan options and assess your unique financial needs.

What Is the Minimum Down Payment for a Bank Statement Loan in California?

You can get a bank statement mortgage loan in California with a down payment as low as 10%. However, the exact down payment requirement will depend on factors such as:

• Your credit score
• Your loan amount
• Your overall financial profile

To qualify for a 10% down payment, you’ll need a strong credit score (minimum 680+) and a loan amount below $2 million. The minimum down payment for a bank statement loan in California is higher if you have a lower credit score or if you’re requesting a large loan amount.

How to Get a Bank Statement Loan in California

Interested in applying for a bank statement mortgage loan in California? At Griffin Funding, we offer streamlined approval processes for home loans in California. Below are the basic steps you’ll take to secure a bank statement loan:

1. Initial Discovery Meeting: Start by connecting with Griffin Funding. During this meeting, our team will assess your eligibility and guide you through completing your application.
2. Lock in Your Rate: Based on your credit score, we’ll help you secure the best available rate for your loan.
3. Underwriting Process: Once your rate is locked, we’ll handle the underwriting process. During this time, ensure all necessary inspections are completed on your end.
4. Finalize and Sign: When your loan is ready, we’ll schedule a signing to finalize the process.
5. Receive Your Funds: After signing, your funds will be released, allowing you to move forward with purchasing your home.

This process can often be completed in as little as 30 days, provided all required documents are submitted promptly. Use our bank statement loan calculator to get a snapshot of what this loan might look like for you.

Find Out If You Qualify for a Bank Statement Mortgage in California

Griffin Funding is a direct lender as well as a broker. Unlike most banks that only offer a few products, we partner with over 40 different banks, lenders, private equity funds, and investors nationwide and offer a large range of products. We have the experience and flexibility to find the unique loan that fits your unique situation, all while providing five-star, white-glove customer service that makes the process as pleasant as possible.

To apply for a bank statement home loan in California with Griffin Funding, please get started online or call us at (855) 576-1043 and our team of experts will be happy to assist you.