Home Loans for Self Employed in California

California has an incredibly dynamic and diverse work force and is the world's fifth largest economy. Major industries include Hollywood's film industry, technology hubs of Silicon Valley and Irvine, healthcare, manufacturing, business services, and agriculture.

Being self-employed allows you to use your skills and determination to pursue your passions and earn money on your own terms. Whether it be in the film industry, technology, healthcare, or hospitality. According to the government statistics, California has 3.9 million small businesses ^[1].

The largest concentration of self-employed workers in California are in San Francisco, Los Angeles, Oxnard-Ventura, San Diego, and San Jose. They range from 12-15 percent of the workforce and are steadily growing even with the passage of AB5^[2] to convert certain independent contractors to salaried employees. Many have claimed that their success and financial stability is attributed from their self-employment. In May 2017, 10.6 million people were employed as independent contractors, up from 10.3 million in February 2005 ^[3].

Global consulting firm McKinsey & Company found that there are roughly 68 million freelancers in the U.S. which greatly contrasts with the Bureau of Labor Statistics (BLS) count of only 16 million Americans being self-employed as of July 2019^[4]

Non-QM Mortgage Lenders California

There are roughly 100 lenders whom we work with. Approximately one-third of them offer a bank statement mortgage loan without tax returns. We know who the best bank statement lenders are that occasionally have monthy specials, lower interest rates than competitors, and easier approval conditions to get your loan closed hassle-free.

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Tip: Please make sure that your California business can be found online at SOS.CA.gov. Your company should be active and valid for the underwriter to approve your self-employment. If you have an expired business name your loan request may not be approved. If you still have more questions check out our answers to FAQs about bank statement loans or simply click "apply" above and we'll contact you. Most California's sole proprietors have filed their fictitious business names at their local County Recorder's office.

We serve the following California areas:

Los Angeles County
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Agoura Hills • Alhambra • Baldwin Hills • Bel Air • Beverly Hills • Brentwood • Burbank • Calabasas • Culver City • Downtown L.A. • Echo Park • Encino • Gardena / Compton • Glendale • Granada Hills • Hancock Park • Hermosa Beach • Hollywood • Inglewood • La Canada - Flintridge • Los Feliz • Malibu • Manhattan Beach • Marina Del Rey • Northridge • Pacific Palisades • Pasadena • Redondo Beach • Santa Clarita • Santa Monica • Sherman Oaks • Silver Lake • Studio City • Tarzana • Torrance • Venice • View Park • Windsor Hills • West Hollywood • West L.A. • West Covina

San Diego, Santa Barbara, San Luis Obispo.

Sources

1. SBA.gov California Small Business Profiles
2. EDD.ca.govCalifornia Assembly Bill 5
3. L.A. Times Independent Contractors, June 2018
4. Pew Research Facts about American Workers 8/29/2019

William possesses an active license from the NMLS and California Dept. of Real Estate. William has extensive knowledge about various mortgage products, real estate investing and personal finance. He has been writing and blogging about real estate and related topics for more than 15 years. His work has been featured on various real estate sites and industry platforms. More about William