Question 1

Can I use business bank statements instead of personal?

Accepted Answer

Yes. Most lenders accept business statements. They apply an expense factor — often 40-50% — to estimate your net income.

Question 2

Do I need to be self-employed for this loan?

Accepted Answer

Yes. Bank statement loans are designed for self-employed borrowers who can't document income through W-2s or tax returns.

Question 3

How many months of statements do I need?

Accepted Answer

Most programs require 12 or 24 months. Using 24 months smooths out seasonal income swings common in wine country businesses.

Question 4

Are bank statement loan rates higher than conventional?

Accepted Answer

Yes, typically. Non-QM loans carry more lender risk. Rates vary by borrower profile and market conditions.

Question 5

Can I buy rural or agricultural property with this loan?

Accepted Answer

Sometimes. Lenders review the property type individually. Acreage and agricultural use can limit your lender options.

Bank Statement Loans for Self-Employed Buyers in Plymouth, CA