Question 1

Do I need both personal and business bank statements?

Accepted Answer

Usually one or the other. We determine which account best supports your qualifying income before you submit anything.

Question 2

How does the expense factor affect my loan?

Accepted Answer

Business statements get reduced by an expense ratio, often 50%. That cuts your qualifying income in half compared to personal deposits.

Question 3

Can I get a jumbo amount on a bank statement loan?

Accepted Answer

Yes. Several wholesale lenders offer bank statement programs well into jumbo territory. Pleasanton prices often require it.

Question 4

Are bank statement loan rates higher than conventional?

Accepted Answer

Yes, typically. Non-QM loans carry a rate premium. Rates vary by borrower profile and market conditions.

Question 5

What if my deposits are inconsistent month to month?

Accepted Answer

Lenders average 12 to 24 months of deposits. One slow month won't kill the file. Extreme swings can be a problem.

Question 6

How long does it take to close a bank statement loan in Pleasanton?

Accepted Answer

Plan for 30 to 45 days. Non-QM underwriting takes longer than conventional. Starting your file early helps.

Bank Statement Loans for Pleasanton's Self-Employed