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Chowchilla sits in Madera County's agricultural core. Self-employment is common here — farming, trucking, and trades dominate the local economy.
Tax returns rarely tell the full story for these borrowers. Bank statement loans fill that gap by using actual cash flow instead.
12–24 Months
Bank Statements Required
640 (typical)
Min Credit Score
10%
Min Down Payment
Non-QM
Loan Type
Bank Statement Loans in Chowchilla
You'll need 12 to 24 months of bank statements — personal, business, or both. Lenders average the deposits to calculate your qualifying income.
Most lenders want a 640+ credit score for standard pricing. Scores below that aren't automatic disqualifiers, but expect higher rates. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Chowchilla.
Chowchilla sits in Madera County's agricultural core. Self-employment is common here — farming, trucking, and trades dominate the local economy.
Tax returns rarely tell the full story for these borrowers. Bank statement loans fill that gap by using actual cash flow instead.
You'll need 12 to 24 months of bank statements — personal, business, or both. Lenders average the deposits to calculate your qualifying income.
Bank statement loans are non-QM products. Your local bank almost certainly won't offer them. You need a broker with wholesale non-QM access.
SRK CAPITAL works with 200+ wholesale lenders. We can compare non-QM programs side by side to find the terms that match your cash flow profile.
The biggest mistake self-employed borrowers make: applying with a retail lender first. They get denied, then assume they can't qualify anywhere.
Business bank accounts need an expense ratio. Lenders typically apply 50% for sole proprietors and less for LLCs with verified expenses. That math changes your qualifying income significantly.
Bank statement loans aren't your only non-QM option. If you receive 1099 income, a 1099 loan may qualify you at a better rate.
Own rental property? A DSCR loan qualifies on the property's rent income — no personal income docs at all. The right product depends on your full financial picture.
Madera County has a strong owner-operator culture. Dairy farmers, ag contractors, and small business owners often write off heavily — making conventional loans nearly impossible.
Bank statement loans were practically designed for this borrower profile. If your deposits are consistent, you likely have more buying power than your tax return suggests.
Most lenders require proof of self-employment — a business license, CPA letter, or business registration works. Two years of self-employment history is standard.
Yes, many lenders allow a blend of both. Business accounts require an expense factor applied to deposits, which reduces qualifying income.
Lenders average your monthly deposits over 12 or 24 months. Large one-time deposits are often excluded from the calculation.
Yes — non-QM products carry a rate premium over conventional loans. Rates vary by borrower profile and market conditions.
Most bank statement programs require at least 10% down. Putting down 20% or more typically improves your rate and removes mortgage insurance requirements.
Irregular deposits aren't a dealbreaker, but they reduce your average qualifying income. Seasonal businesses are common — lenders understand that pattern.