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Clovis has a strong base of small business owners, contractors, and independent professionals. Many earn solid incomes that never show up cleanly on a tax return.
Bank statement loans exist for exactly that borrower. Lenders use 12 to 24 months of deposits to calculate qualifying income — no W-2s, no tax transcripts.
620 typical
Min Credit Score
12–24 months
Statements Required
10–20%
Down Payment
Non-QM
Loan Type
Bank Statement Loans in Clovis
Most lenders want 12 months of bank statements minimum. Some require 24. Personal and business accounts are both usable, but business accounts apply an expense ratio.
Credit requirements vary by lender. Expect a 620 minimum at most shops, though better pricing starts around 680. Down payment typically runs 10 to 20 percent.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Clovis.
Clovis has a strong base of small business owners, contractors, and independent professionals. Many earn solid incomes that never show up cleanly on a tax return.
Bank statement loans exist for exactly that borrower. Lenders use 12 to 24 months of deposits to calculate qualifying income — no W-2s, no tax transcripts.
Most lenders want 12 months of bank statements minimum. Some require 24. Personal and business accounts are both usable, but business accounts apply an expense ratio.
Bank statement loans are non-QM products. Most retail banks don't offer them. You need a broker with access to wholesale non-QM lenders to find competitive pricing.
Rates on non-QM loans run higher than conventional. That spread depends on your credit, down payment, and how clean your deposit history looks. Rates vary by borrower profile and market conditions.
The biggest mistake I see: borrowers mix personal and business deposits in one account. Lenders discount business account deposits by 40 to 50 percent for expenses. Keep accounts clean.
Consistent monthly deposits matter more than peak months. A lender will average 24 months of deposits. Three big months surrounded by slow months hurts your qualifying income.
If you have 1099 income, a 1099 loan might qualify you at a lower rate. If your Schedule C shows enough income after write-offs, conventional could be cheaper.
P&L loans are faster to document but stricter on underwriting. Asset depletion loans work if you have reserves but low monthly income. The right program depends on your full financial picture.
Fresno County has a large agricultural and small business economy. Many Clovis borrowers run LLCs, sole proprietorships, or seasonal businesses — all common fits for bank statement loans.
Home prices in the Clovis area are more accessible than coastal California markets. That helps, since larger down payments on non-QM loans are easier to hit at lower price points.
Yes. Business accounts get an expense ratio applied — usually 40 to 50 percent. Personal accounts are credited at full deposit value.
Most lenders start at 620. Better rates kick in around 680. Higher scores mean more lender options and lower pricing.
Lenders average your monthly deposits over 12 or 24 months. They subtract an expense factor on business accounts to estimate net income.
Yes. Non-QM rates run higher than conventional. The gap depends on your credit score, down payment, and deposit history. Rates vary by borrower profile and market conditions.
Expect 10 percent minimum, and 20 percent for better pricing. Some lenders require more depending on credit and loan size.
Lenders average all months equally. Gaps or slow months pull your qualifying income down. Consistent deposits are the single biggest factor.