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El Centro sits in Imperial County, a region with a strong base of small business owners, farmers, and independent contractors.
Traditional loans reject these borrowers constantly. Bank statement loans exist to fix that problem.
620+
Min Credit Score
12 or 24 Months
Statement Period
10-20%
Down Payment
2 Years
Self-Employment Min
Bank Statement Loans in El Centro
Lenders use 12 to 24 months of personal or business bank statements to calculate your qualifying income.
Most lenders want a 620+ credit score and 10-20% down. Stronger credit gets better terms.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in El Centro.
El Centro sits in Imperial County, a region with a strong base of small business owners, farmers, and independent contractors.
Traditional loans reject these borrowers constantly. Bank statement loans exist to fix that problem.
Lenders use 12 to 24 months of personal or business bank statements to calculate your qualifying income.
Big retail banks don't offer bank statement loans. This product lives in the non-QM wholesale market.
At SRK CAPITAL, we access 200+ wholesale lenders who specialize in these programs. That matters when your file is non-standard.
Business owners often write off everything. That kills their taxable income — and kills a conventional approval.
Bank statement loans look at actual cash flow instead. What hits your account is what counts.
1099 loans work if your clients issue 1099s. P&L loans use an accountant letter instead of statements.
Bank statement loans fit best when your deposits are consistent and well-documented over 12-24 months.
Imperial County has a large agricultural economy. Farm owners, labor contractors, and produce distributors are common applicants here.
Cross-border business activity near Calexico is also common. Lenders want domestic bank accounts — keep that in mind.
Yes, but lenders apply an expense ratio — typically 50%. Personal accounts are often counted at a higher rate.
Most lenders want at least two years. Some allow one year with strong compensating factors like high credit or large reserves.
Rates are higher on non-QM products. Rates vary by borrower profile and market conditions — get quotes from multiple lenders.
Yes. Bank statement loans cover primary residences, second homes, and investment properties.
Lenders average 12 or 24 months of deposits. Seasonal income works — 24-month averaging smooths out slow months.
It takes longer to underwrite. Have clean, organized statements ready. Missing pages or transfers cause delays.