Question 1

Can I use personal bank statements instead of business ones?

Accepted Answer

Yes. Personal statements skip the expense ratio reduction. Your full deposits count toward qualifying income.

Question 2

Do bank statement loans work for primary residences in Bishop?

Accepted Answer

Yes. This program covers primary homes, second homes, and investment properties. It's not limited to rentals.

Question 3

What credit score do I need for a bank statement loan?

Accepted Answer

Most lenders start at 620. Better scores get better rates — and more lender options. Rates vary by borrower profile and market conditions.

Question 4

Will my seasonal income hurt my approval?

Accepted Answer

Not necessarily. Lenders average deposits over 12 to 24 months. Consistent seasonal patterns can still qualify.

Question 5

Why are bank statement loan rates higher?

Accepted Answer

Lenders take on more risk without tax return verification. That risk premium shows up in the rate.

Bank Statement Loans in Bishop, CA for the Self-Employed