Question 1

Can I use business bank statements instead of personal?

Accepted Answer

Yes, but personal statements typically qualify you for more. Business accounts get expense deductions that reduce qualifying income by 30-50%.

Question 2

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

Accepted Answer

Most lenders require 660 minimum. Some programs go to 620, but rates increase and down payment requirements jump to 20-25%.

Question 3

How long does bank statement loan approval take?

Accepted Answer

Faster than you'd expect—often 3-4 weeks to close. The main delay is gathering statements and clearing large deposit explanations.

Question 4

Do all deposits count as income?

Accepted Answer

No. Transfers between your own accounts don't count. One-time deposits get excluded unless you can document them as recurring income.

Question 5

Can I refinance with a bank statement loan?

Accepted Answer

Absolutely. We see these frequently for cash-out refinances where self-employed borrowers tap equity but can't document income traditionally.

Bank Statement Loans in Beverly Hills: Income Proof for Business Owners & Entrepreneurs