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Placerville attracts a lot of self-employed buyers. Contractors, small business owners, and seasonal workers are common here.
Standard loans use tax returns to verify income. That kills deals for borrowers who write off heavily. Bank statement loans fix that.
12–24 Months
Statement History
640 Typical
Min Credit Score
No
Tax Returns Required
10–20%
Down Payment
Bank Statement Loans in Placerville
You'll need 12 to 24 months of personal or business bank statements. Lenders average your monthly deposits to calculate income.
Most lenders want a 640+ credit score and 10–20% down. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Placerville.
Placerville attracts a lot of self-employed buyers. Contractors, small business owners, and seasonal workers are common here.
Standard loans use tax returns to verify income. That kills deals for borrowers who write off heavily. Bank statement loans fix that.
You'll need 12 to 24 months of personal or business bank statements. Lenders average your monthly deposits to calculate income.
Most retail banks don't offer bank statement loans. You need a non-QM lender — and most borrowers can't find one on their own.
At SRK CAPITAL, we work with 200+ wholesale lenders. Several specialize in non-QM products for self-employed borrowers.
Business bank statements get scrutinized harder. Lenders apply an expense ratio — often 50% — to calculate usable income.
Personal statements are cleaner. If your business income flows to personal accounts, that's usually the stronger file to submit.
A 1099 loan works if most of your income is reported on 1099s. Bank statement loans work even without 1099s.
P&L loans use an accountant-prepared statement instead of bank records. Some lenders combine both for a stronger file.
El Dorado County has a strong small business and trade workforce. Many Placerville borrowers run cash-heavy operations.
Properties here include rural parcels and older homes. Some lenders add overlays for non-standard properties on non-QM loans.
Yes, but lenders apply an expense ratio to your deposits. Personal statements often qualify you for more.
Most lenders require 2 years. Some non-QM lenders accept 12 months with strong deposit history.
Yes, typically. Non-QM loans carry more lender risk. Rates vary by borrower profile and market conditions.
Often yes, but some lenders add restrictions on acreage or non-standard properties. We shop lenders who handle these files.
Lenders average 12–24 months of deposits. Wild swings lower your qualifying income and may require more documentation.