Question 1

How many months of bank statements do I need?

Accepted Answer

Most lenders require 12 months minimum. Some programs allow 24 months to smooth out irregular income.

Question 2

Can I use business bank statements to qualify?

Accepted Answer

Yes, but lenders apply an expense factor — usually 50%. Personal statements typically produce higher qualifying income.

Question 3

Do I need two years of self-employment history?

Accepted Answer

Most non-QM lenders require it. Some allow 12 months with strong deposit history and compensating factors.

Question 4

Are bank statement loan rates higher than conventional rates?

Accepted Answer

Yes. Non-QM loans carry higher rates than conventional financing. Rates vary by borrower profile and market conditions.

Question 5

Can I buy in Fairfax with a bank statement loan?

Accepted Answer

Absolutely. There's no geographic restriction. The loan amount must match what your deposit income supports.

Question 6

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

Accepted Answer

Most lenders start at 680. Higher scores improve your rate and expand program options significantly.

Bank Statement Loans in Fairfax, CA