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Mendota's agricultural economy runs on self-employed operators and business owners who don't fit traditional W-2 lending boxes. Bank statement loans let you qualify based on actual deposits rather than tax returns.
The restaurant boom spreading through Fresno's dining scene is drawing younger professionals to the region. Bank statement lending opens doors for business owners, contractors, and gig workers who have strong cash flow but unconventional income documentation.
640+
Minimum FICO
20–30%
Down Payment
24 months bank statements
Documentation
45–60 days
Typical Close
0.5–1% above conventional
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Bank Statement Loans in Mendota
Bank statement loans typically require 24 months of personal or business bank statements showing consistent deposits. Most lenders want a 640+ FICO score and 20% down payment. The underwriting focuses on your actual cash flow, not your tax filings.
Down payment ranges from 20% to 30% depending on the lender and your deposit history. You'll need to show 2–3 months of reserves after closing. Self-employed income must be consistent across the 24-month lookback period.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Mendota.
Mendota's agricultural economy runs on self-employed operators and business owners who don't fit traditional W-2 lending boxes. Bank statement loans let you qualify based on actual deposits rather than tax returns.
The restaurant boom spreading through Fresno's dining scene is drawing younger professionals to the region. Bank statement lending opens doors for business owners, contractors, and gig workers who have strong cash flow but unconventional income documentation.
Bank statement loans typically require 24 months of personal or business bank statements showing consistent deposits. Most lenders want a 640+ FICO score and 20% down payment. The underwriting focuses on your actual cash flow, not your tax filings.
Bank statement lending is a niche product. Most major retail lenders don't offer it; you'll find it through brokers and portfolio lenders who specialize in self-employed borrowers.
Brokers have access to multiple bank statement lenders, which matters because each has different deposit-averaging methods and reserve requirements. Some average 24 months; others use the most recent 12. Some require business licenses; others don't.
Bank statement loans make sense in Mendota for self-employed buyers with strong deposits but messy tax returns. If you've been in business 2+ years and your bank account shows consistent income, this program opens the door when traditional lending won't.
They don't make sense if your deposits are sporadic or if you have recent tax returns that show strong income. Conventional loans will always be cheaper. Bank statement lending is the solution when conventional doesn't work — not a first choice.
Conventional loans are cheaper and faster if you have clean tax returns and W-2 income. Bank statement loans cost more in rate and take longer to close, but they don't require tax returns at all.
FHA loans also accept self-employed borrowers, but they require tax returns and 2 years of business history. FHA's mortgage insurance runs for the life of the loan if you put down less than 10%.
Fresno's restaurant boom is bringing new energy to the region. At least 17 new establishments are in development, which means more jobs and more foot traffic in surrounding areas like Mendota.
Fresno State's 52nd annual Vintage Days and the Tower District's Porchfest draw thousands of visitors annually. That kind of regional activity supports property values and rental income for investors.
No. Bank statement loans use 24 months of personal or business bank statements instead of tax returns. Your deposits prove your income. Some lenders ask for the most recent year's tax return for reference, but it's not required to qualify.
Most lenders require 24 months of history. Some portfolio lenders will work with 18–20 months if your deposits are strong and consistent. Call to ask — a few programs are flexible. Two years is the standard, but it's not absolute.
Bank statement loans typically require 20–30% down. The exact amount depends on your FICO score, deposit history, and the lender. 20% is the floor; some programs ask for 25% or 30% if your deposits are newer or less consistent.
No — not at 20% down or higher. Bank statement loans skip PMI entirely. That's one real advantage over FHA, which charges mortgage insurance for the life of the loan if you put down less than 10%.
Plan for 45–60 days. Bank statement loans require more detailed underwriting than conventional loans. The lender needs to review 24 months of statements and verify your deposits. Faster closings are possible but not typical.