Loading
Loading
Wasco sits in Kern County's agricultural core. A lot of business owners and contractors here don't show clean W-2 income.
Bank statement loans exist for exactly that situation. Your deposits tell the story your tax returns can't.
12 or 24 Months
Statement Period
620+
Min Credit Score
10-20%
Min Down Payment
Non-QM
Loan Type
Bank Statement Loans in Wasco
You'll need 12 to 24 months of personal or business bank statements. Lenders average your monthly deposits to calculate income.
Most lenders want a 620+ credit score and 10-20% down. Stronger credit gets you better pricing.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Wasco.
Wasco sits in Kern County's agricultural core. A lot of business owners and contractors here don't show clean W-2 income.
Bank statement loans exist for exactly that situation. Your deposits tell the story your tax returns can't.
You'll need 12 to 24 months of personal or business bank statements. Lenders average your monthly deposits to calculate income.
Bank statement loans are non-QM products. Not every lender offers them — you won't find these at most retail banks.
We work with 200+ wholesale lenders. Several specialize in non-QM programs built for borrowers like you.
Business owners often write off everything. That kills qualifying income on a conventional loan.
With a bank statement loan, we use your actual cash flow. Heavy write-offs work in your favor here.
A 1099 loan uses your contractor income forms instead of statements. P&L loans use a CPA-prepared profit and loss report.
If your deposits are strong and consistent, bank statements usually produce the highest qualifying income of the three.
Kern County has a large base of ag businesses, trucking operators, and independent contractors.
Many of these borrowers earn well but file low taxable income. Bank statement loans are one of the few programs that work here.
Yes. Most lenders accept business statements. They'll apply an expense ratio — typically 50% — to calculate net income.
Most lenders require at least two years of self-employment. Some non-QM lenders allow 12 months with strong compensating factors.
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.
Yes, but a DSCR loan often makes more sense for rentals. Bank statement loans work best for primary residences and second homes.
Lenders average all 12 or 24 months. One or two low months won't kill the deal — consistent overall deposit volume matters most.