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Shafter sits in Kern County's agricultural and logistics corridor. Many residents run their own operations — farms, trucking, contracting — and don't show income the way a W-2 employee does.
Bank statement loans exist for exactly this borrower. Your deposits tell the story your tax returns can't.
12 or 24 months
Statement Period
Often 620+
Min Credit Score
Typically 10%
Min Down Payment
Bank deposits
Income Verified By
Non-QM
Loan Type
Bank Statement Loans in Shafter
Lenders use 12 or 24 months of personal or business bank statements. They average your monthly deposits to calculate qualifying income.
Business account users: lenders apply an expense ratio to your deposits. Personal account deposits often count at a higher percentage. Your statement type matters.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Shafter.
Shafter sits in Kern County's agricultural and logistics corridor. Many residents run their own operations — farms, trucking, contracting — and don't show income the way a W-2 employee does.
Bank statement loans exist for exactly this borrower. Your deposits tell the story your tax returns can't.
Lenders use 12 or 24 months of personal or business bank statements. They average your monthly deposits to calculate qualifying income.
Big banks don't offer bank statement loans. This is a non-QM product — meaning it lives outside standard lending guidelines. You need a broker with access to non-QM wholesale lenders.
SRK CAPITAL works with 200+ wholesale lenders, including specialty non-QM shops. We know which ones price well for Kern County borrowers and which ones don't.
Most self-employed borrowers I see get denied at a bank first. They write off too much on taxes. Their taxable income looks low — even when cash flow is strong.
Bank statement loans fix that. If your deposits show consistent income over 12 to 24 months, we have options. Rates vary by borrower profile and market conditions.
A 1099 loan uses your 1099 forms to verify income — cleaner if you receive them regularly. A P&L loan uses a CPA-prepared statement instead of bank statements.
If you have real estate income, a DSCR loan skips personal income entirely. We compare all these options before recommending one. The best fit depends on your income type.
Shafter's economy runs on agriculture, oil, and distribution. Owner-operators in those sectors often have variable monthly income. Bank statement lenders expect that — they average across the full period.
Kern County's home prices are lower than coastal California. That works in your favor. Smaller loan amounts mean less risk for non-QM lenders, which can improve your terms.
Most bank statement lenders require at least two years self-employed. Some allow one year with strong compensating factors.
Usually no — lenders want one account type. Business accounts require an expense ratio deduction. Personal accounts typically count at a higher rate.
Rates run higher than conventional loans. The tradeoff is qualifying without tax returns. Rates vary by borrower profile and market conditions.
Most non-QM lenders start at 10% down. Better credit and larger down payments can improve your rate and approval odds.
Yes, bank statement loans work for investment properties. Expect higher down payment requirements and stricter reserve guidelines.