Question 1

Can I use a business bank account?

Accepted Answer

Yes. Lenders apply an expense ratio to business deposits. Personal accounts typically get a higher qualifying income.

Question 2

Do I need 12 or 24 months of statements?

Accepted Answer

Most lenders offer both options. 24 months usually gets you a better rate. 12 months works if your income is strong and consistent.

Question 3

What credit score do I need?

Accepted Answer

Most bank statement programs start at 640. Higher scores unlock better rates. Rates vary by borrower profile and market conditions.

Question 4

Can cross-border business income qualify?

Accepted Answer

It depends on how deposits are documented in a US bank account. A US-based account showing consistent deposits is what lenders evaluate.

Question 5

How is my income calculated from bank statements?

Accepted Answer

Lenders average your monthly deposits over 12 or 24 months. Business accounts get an expense ratio deducted before averaging.

Question 6

Is a bank statement loan harder to get approved?

Accepted Answer

Approval standards differ from conventional loans, not necessarily harder. Consistent deposit history matters more than tax return income.

Bank Statement Loans in Calexico, CA