Question 1

How many months of bank statements do I need?

Accepted Answer

Most lenders require 12 months minimum. Some programs offer better terms with 24 months of statements.

Question 2

Can I use business bank statements?

Accepted Answer

Yes. Many lenders accept business statements. They typically apply an expense factor — often 50% — to calculate net income.

Question 3

Do bank statement loans have higher rates?

Accepted Answer

Yes, typically higher than conventional loans. Rates vary by borrower profile and market conditions.

Question 4

What credit score do I need in Imperial?

Accepted Answer

Most non-QM lenders start at 620 to 660. A higher score improves your rate and lender options.

Question 5

Can I buy a primary home or only investment property?

Accepted Answer

Bank statement loans work for primary homes, second homes, and investment properties. Program terms differ by property type.

Bank Statement Loans in Imperial, CA