Bank statement loans in Montebello
When you're paid on 1099s or run your own shop, your tax return rarely tells the full story of what you earn. In Montebello, a bank statement loan qualifies you on the deposits hitting your account instead. Miguel A. Vazquez, NMLS #401212, sets the whole thing up in English or Spanish.
Whittier Boulevard's owners and 1099 earners
Montebello has a deep bench of self-employed residents — the businesses along Whittier Boulevard, the trades, the independent professionals who get a 1099 instead of a W-2. Their returns are trimmed by legitimate write-offs, which quietly shrinks the income a bank will count. A bank statement loan uses the deposits, so hard-working owners get credit for what they actually bring home.
Deposits over tax returns
We average 12 to 24 months of statements to set your income — write-offs don't drag the number down.
For 1099s and owners
Independent professionals and Montebello business owners whose W-2 income doesn't exist or doesn't tell the whole story.
Terms compared for you
We line up the lenders who offer bank statement loans and bring you the rate and structure that fits best.
Common questions
I'm paid on 1099s in Montebello. Can I still buy a home?
Yes. A bank statement loan is built for 1099 earners and business owners — we qualify you on the deposits in your account over 12 to 24 months rather than your tax returns, which is where write-offs make your income look smaller.
How is my income calculated on this loan?
We add up the qualifying deposits across your statements and average them into a monthly income figure. Lenders discount some of the gross to account for business expenses, and we'll walk you through exactly how your number comes out.
What credit score do I need in Montebello?
There's no single cutoff, but bank statement lenders generally want reasonably solid credit — often the mid-600s and up. Tell me your score early and I'll point you to the lenders whose guidelines match your file.
Is a bank statement loan or an ITIN loan right for me?
They solve different problems. A bank statement loan is about how you prove income; an ITIN loan is about not having a Social Security number. If both apply to you, tell me and we'll find the lender and program that cover your whole situation.