Question 1

Can I use business bank statements instead of personal?

Accepted Answer

Yes. Most lenders accept business statements. They'll apply an expense ratio — typically 50% — to calculate net income.

Question 2

Do I need to be self-employed for two years?

Accepted Answer

Most lenders require at least two years of self-employment. Some non-QM lenders allow 12 months with strong compensating factors.

Question 3

How does my credit score affect my rate?

Accepted Answer

Non-QM pricing is highly score-sensitive. A 700+ score can meaningfully lower your rate versus a 620. Rates vary by borrower profile and market conditions.

Question 4

Are bank statement loans available for investment properties in Wasco?

Accepted Answer

Yes, but a DSCR loan often makes more sense for rentals. Bank statement loans work best for primary residences and second homes.

Question 5

What if my deposits are inconsistent month to month?

Accepted Answer

Lenders average all 12 or 24 months. One or two low months won't kill the deal — consistent overall deposit volume matters most.

Bank Statement Loans for Wasco's Self-Employed Buyers