Question 1

Can I use both personal and business bank accounts?

Accepted Answer

Some lenders allow it, others require one account type. We match you to lenders whose policies fit your documentation.

Question 2

What if my deposits vary significantly month to month?

Accepted Answer

Lenders average deposits across 12 or 24 months. Longer periods smooth out seasonal fluctuations common in agriculture and oil services.

Question 3

Do large one-time deposits hurt my application?

Accepted Answer

Underwriters exclude non-recurring deposits like equipment sales or insurance payouts. Consistent operating income drives qualification.

Question 4

How much documentation do I need beyond bank statements?

Accepted Answer

Expect to provide business licenses, proof of self-employment history, and standard purchase documents. Tax returns aren't required.

Question 5

Can I refinance an existing mortgage with bank statements?

Accepted Answer

Yes. Rate and term refinances work the same as purchase transactions. Cash-out refinances may require larger equity positions.

Bank Statement Loans in Taft: Income Verification for Self-Employed Borrowers