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Bank Statement Loans in Kingsburg
Kingsburg's small business economy runs on W-2 alternatives. Underwriters who demand paystubs miss the raisin farmers, vineyard operators, and construction contractors who actually drive this market.
Bank statement loans use 12 to 24 months of deposits to document income. This matches how self-employed borrowers in Fresno County actually earn—through seasonal harvests, project-based billing, and cash flow patterns traditional lenders can't assess.
You'll need 12 to 24 months of consecutive bank statements from business or personal accounts. Lenders calculate qualifying income by averaging monthly deposits, then applying a percentage factor based on account type.
Credit scores start at 640 for most programs, with 700+ opening better rate tiers. Expect 10-20% down for primary residences. Investment properties typically require 20-25% down.
Most retail banks won't touch bank statement programs. This loan type lives in the non-QM wholesale channel, where underwriters actually understand how business income works.
SRK CAPITAL accesses 200+ wholesale lenders with different bank statement overlays. Some accept business-only accounts. Others blend personal and business deposits. Rate spreads between lenders hit 75-100 basis points on identical profiles.
Underwriters scrutinize large irregular deposits. If you deposited proceeds from equipment sales or one-time windfalls, flag them upfront. Otherwise they inflate your qualifying income, then get backed out during final review.
Timing matters in Kingsburg's ag economy. Apply after harvest season when bank statements show strong deposit patterns. Spring applications from farmers often hit income documentation walls before crops sell.
If you have clean tax returns showing adequate income, a Profit & Loss Statement Loan might price better. That program uses P&L and CPA letters instead of bank deposits, often with lower rates.
For pure rental property purchases, DSCR Loans ignore your personal income entirely. The property's rent covers the mortgage. That works better if your bank statements show write-offs that crush qualifying income.
Kingsburg properties rarely appraise high enough to cause jumbo loan thresholds, but bank statement programs don't follow conforming limits anyway. Your loan amount depends more on documented income than Fresno County loan caps.
Properties tied to working farms sometimes complicate title and appraisal. If the home sits on ag-zoned land with water rights or commercial use, flag that before opening escrow. Some bank statement lenders won't touch mixed-use rural properties.
Yes. Most lenders accept business accounts, though some apply higher expense ratios when calculating qualifying income. Business-only statements often work better for S-corps and LLCs.
Underwriters average deposits over 12-24 months, which smooths seasonal spikes. Provide context for harvest cycles. Strong winter months help offset slower planting seasons.
Not for income verification. Some lenders request returns to verify self-employment history or assess debt, but they don't calculate qualifying income from them.
They back them out. Moving money from savings to checking inflates deposit totals. Clean statements with minimal internal transfers underwrite faster and cleaner.
Bank statement rates typically run 75-150 basis points above conforming programs. Rates vary by borrower profile and market conditions. Strong credit and larger down payments tighten that spread.
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.