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Bank Statement Loans in Firebaugh
Firebaugh's agricultural economy produces self-employed income that traditional lenders can't process. Farm operators, contractors, and small business owners here need financing that looks at cash flow, not tax returns.
Bank statement loans solve the documentation gap. Twelve to 24 months of deposits replace W-2s and prove income the way it actually flows through your business.
You need 12 months of business or personal bank statements showing consistent deposits. Lenders calculate income using average monthly deposits, typically applying a 50% expense ratio unless you're in a lower-cost industry.
Credit scores start at 620, but expect better rates above 680. Down payments run 10-20% depending on your credit profile and property type. Investment properties require 20-25% down.
SRK CAPITAL shops 200+ wholesale lenders specializing in non-QM programs. Each lender calculates income differently—some accept personal statements, others require business accounts only.
Rate spreads between lenders hit 75-100 basis points on the same file. We run your statements through multiple underwriting engines to find which lender treats your deposit pattern best.
Clean up your statements before applying. Lenders flag transfers between accounts, ATM withdrawals over $500, and irregular large deposits. Non-sufficient fund marks kill deals.
Seasonal businesses struggle with 12-month averages. Ag-related borrowers in Firebaugh should use 24-month statements to smooth harvest cycles and show sustainable income patterns across full production years.
1099 loans work better if you have contract income and can show consistent client relationships. Profit and loss loans require a CPA letter but allow higher qualifying ratios than bank statements.
DSCR loans beat bank statement programs for rental properties. They skip personal income entirely and qualify you on rent versus mortgage payment. Asset depletion makes sense if you hold significant liquid reserves but show low monthly deposits.
Firebaugh properties under $400,000 qualify for standard pricing. Higher loan amounts sometimes trigger additional reserve requirements or reduced LTV caps depending on the lender's comfort with rural Central Valley markets.
Appraisals take longer here than metro Fresno. Plan 3-4 weeks for valuation and build that timeline into your purchase contract. Sellers need to understand non-QM files close slower than conventional deals.
Yes, most lenders accept personal statements if your business income flows through them. They'll deduct personal deposits like gifts or transfers that aren't business revenue.
Lenders average your deposits over 12-24 months. Using 24 months smooths seasonal swings common in Firebaugh's agricultural economy and typically produces better qualifying income.
Most lenders default to 50% expense ratio, but some allow lower percentages for specific industries. Trucking, consulting, and certain ag operations qualify for 25-40% expense assumptions.
Expect 1.5-2.5% above conventional rates. Exact pricing depends on credit score, down payment, and property type. Rates vary by borrower profile and market conditions.
Yes, cash-out and rate-term refinances both work with bank statements. You'll need the same 12-24 months of statements and meet the same credit and equity requirements as purchase loans.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.