Question 1

Can I use business bank statements in Ukiah?

Accepted Answer

Yes, but lenders typically apply a 50% expense factor to business deposits. Personal statements usually produce a higher qualifying income.

Question 2

Do cannabis business owners qualify?

Accepted Answer

It depends on the lender — some won't touch cannabis income. We know which non-QM lenders will work with it in Mendocino County.

Question 3

How many months of statements do I need?

Accepted Answer

Most lenders require 12 months minimum. Some programs use 24 months for a more complete picture of your income history.

Question 4

Are rates higher than conventional loans?

Accepted Answer

Yes. Non-QM loans carry more risk for lenders, so rates run higher. Rates vary by borrower profile and market conditions.

Question 5

Can I use this loan for a rural property with acreage?

Accepted Answer

Some non-QM lenders will. Lender approval depends on the property type and acreage — not all programs allow rural collateral in Mendocino County.

Bank Statement Loans for Self-Employed Buyers in Ukiah