CASE STUDIES
Actual stories of successful mortgage loans
Proudly Serving all of California
Call Anytime:
Mobile: (949) 600-0944
Up to 97% conventional financing. We also offer USDA & VA loans with up to 100% financing and FHA loans with only 3% down.
Why Jackie Barikhan
Summit Lending?
Jackie is a California-based, award-winning mortgage professional with over 100 5-star ratings. Committed to excellent strategies and out-of-the-box thinking. Mortgage lending is all I do, all day, every day! I’m here to help you in every way!
Call today for a FREE consultation – (949) 600-0944 or book a time to chat HERE
California Self-Employed Mortgage Calculator
Estimate Your Home Buying Power Using Bank Statement Income
Self-employed borrowers often struggle to estimate how much home they can afford because traditional mortgage calculators rely on W-2 income. Programs like bank statement loans and alternative documentation mortgages evaluate income differently.
This calculator helps entrepreneurs, business owners, and independent professionals estimate how much home they may qualify for using bank statement income rather than tax returns.
Many borrowers working with Jackie Barikhan of Summit Lending use these programs to qualify for homes throughout California.
Call us today at (949) 600-0944 for a free quote and consultation.
Step 1: Estimate Your Monthly Qualifying Income
With a bank statement loan, lenders typically review 12 or 24 months of deposits.
To estimate income:
- Add total deposits from your bank statements.
- Divide by the number of months.
- Apply the lender’s expense factor (often 50% for many businesses unless a CPA letter is provided).
Example
Total deposits over 24 months: $1,200,000
Monthly average deposits:
$1,200,000 ÷ 24 = $50,000 per month
Estimated qualifying income using 50% expense factor:
$50,000 × 50% = $25,000 qualifying monthly income
Step 2: Estimate Your Mortgage Approval Range
Lenders typically allow debt-to-income ratios around 43–50% depending on the program.
Example:
Monthly qualifying income: $25,000
Maximum housing payment (45% ratio):
$25,000 × 45% = $11,250 per month
That payment could potentially support a mortgage roughly between $1.8M – $2.5M depending on interest rates and down payment.
Step 3: Estimate Your Purchase Price
Your home purchase price depends on your down payment.
Example scenarios:
|
Down Payment |
Estimated Purchase Price |
|
10% down |
~$2.0M purchase |
|
20% down |
~$2.5M purchase |
|
30% down |
~$3.2M purchase |
These ranges are common with jumbo bank statement mortgage programs.
About Jackie
Mortgage Broker with Summit Lending
Cell: (949) 600-0944 Office: (949) 855-0760 NMLS: 914312 BRE: 01962240
Mortgage financing can be complicated. My expert team will make sure everything is transparent and painless as possible, so you can move into your new home, or get the cash out you need with minimal stress. I LOVE what I do! There is no greater privilege than to help families secure their future home or help make a dramatic impact on a family’s budget by helping them save on their mortgage payment.
Serving the entire State of California.
Nationally Licensed Mortgage Advisor:
NMLS# 914312
BRE# 01962240
I am thoroughly impressed and grateful to have worked with Jackie and her team at Right Choice Mortgage! I really admire the can-do, positive attitude that Jackie had throughout this year-long process of us searching for a house, and when we finally found it, the very long escrow process. She answered all of our questions, helped us stayed on top of our finances and documents, and send us helpful reports so that we can make the right choice in choosing our home. Jackie has a wealth of knowledge (and patience!) that was invaluable in analyzing properties and loan products that best fit our needs. We went through so many scenarios of different properties and financing options and qualifying criteria, etc., our file was probably the largest anyone has ever seen but Jackie was able to sort through it all and finally get us to close on our loan. Daniel and I are eternally grateful to Jackie for helping us start our real estate investing careers! It is truly a dream come true 🙂