If you are self-employed and buying a home in California, you already face a harder qualification path than W-2 borrowers. What most people do not know: you can layer a rate buydown on top of a bank statement loan — starting with a dramatically lower payment while your business continues to grow.
DiVita Home Finance is one of the only California mortgage brokers that can combine a bank statement loan with a 3-1 buydown. Here is how it works.
Bank Statement Loan + 3-1 Buydown: The Combination
A bank statement loan qualifies you using 12 to 24 months of personal or business bank deposits instead of tax returns. This is the standard path for self-employed borrowers whose taxable income after deductions does not reflect their actual cash flow.
A 3-1 buydown reduces your rate by 3% in Year 1, 2% in Year 2, and 1% in Year 3 — funded by a seller concession deposited into escrow at closing. Combining both means you qualify without tax returns AND start with a lower payment than the note rate. Most lenders cannot do this. DiVita can.
Example: Self-Employed Buyer in Marin County
A business owner buying a $1,800,000 home in Tiburon puts 20% down, taking a $1,440,000 jumbo bank statement loan at 7.75%:
| Year | Effective Rate | Monthly P&I | Savings vs. Full Rate |
|---|---|---|---|
| Year 1 | 4.75% | $7,510 | $2,700/mo saved |
| Year 2 | 5.75% | $8,395 | $1,815/mo saved |
| Year 3 | 6.75% | $9,334 | $876/mo saved |
| Year 4+ | 7.75% | $10,210 | — |
Total seller-funded buydown savings: approximately $64,692 over 3 years. This is money you keep while your business income and refinance eligibility grows.
Why This Matters for Self-Employed Buyers
Many self-employed borrowers are in a growth phase — income is rising, but the last two years of tax returns do not fully reflect where they are today. The bank statement loan solves the qualification problem. The buydown solves the cash flow problem in the early years. Together, they make homeownership work right now rather than waiting for circumstances to align.
How to Get a Seller to Fund the Buydown
In most purchase transactions, the buydown is negotiated as part of the offer. Your offer might be close to list price, with the seller conceding $30,000 to $65,000 in closing costs to fund the buydown. Many sellers prefer this to a price reduction because it does not affect the sales price on record. DiVita Home Finance will prepare exact buydown cost figures as part of your loan estimate so you know exactly what to request from the seller.
📞 Call (800) 239-1103 to structure a bank statement loan with a 3-1 buydown for your California purchase.
Learn more about buydown options at DiVita Home Finance
About DiVita Home Finance
DiVita Home Finance is a small, family-owned mortgage company based in Marin County, California. When you call, you speak directly with Michael DiVita — the owner — not a call center, not an out-of-state rep, not someone reading from a script. We’re here for a low-key, no-obligation conversation about your situation.
We take your privacy seriously. We will never sell your information to third-party lenders or lead generation companies — unlike many of the large mortgage platforms. Your inquiry stays with us, period.
📞 Call: (800) 239-1103 | 💬 Text Michael directly: (310) 849-9124
