Question 1

Can I use personal bank statements if I run my business through that account?

Accepted Answer

Yes, most lenders accept personal statements if business income flows through them. They'll filter out non-income deposits like transfers and reimbursements during underwriting.

Question 2

What if I've only been self-employed for 18 months?

Accepted Answer

You need at least 12-24 months of statements depending on the lender. Some allow a mix of W-2 history plus newer self-employment with 12 months of statements.

Question 3

How do lenders calculate my income from deposits?

Accepted Answer

They average your monthly deposits over 12 or 24 months, then subtract 25-50% for estimated business expenses. The remaining amount becomes your qualifying income.

Question 4

Do bank statement loans work for Ione properties with acreage?

Accepted Answer

Yes, but rural parcels often require 20-25% down and larger cash reserves. Lenders price higher for properties outside standard subdivisions or city limits.

Question 5

What's the rate difference between 12 and 24 month statement programs?

Accepted Answer

24-month programs typically price 0.25-0.50% lower because lenders see more income history. Use 12-month if your recent deposits are stronger than your older pattern.

Bank Statement Loans in Ione: Financing for Self-Employed Borrowers Without Tax Returns