Loading
Loading
Willits supports a strong self-employed community — contractors, cannabis consultants, shop owners. Traditional W-2 income docs don't capture how many locals earn. Bank statement loans solve that gap.
Non-QM lenders have expanded options significantly as of February 2026. More programs now accept 12-month statements instead of requiring 24 months. That shortens the timeline for newer businesses to qualify.
Bank Statement Loans in Willits
You need consistent deposits over 12 or 24 months. Lenders calculate your qualifying income by averaging monthly deposits and applying an expense ratio, typically 25-50%. Credit minimums usually start at 620.
Personal and business accounts both work. Most lenders accept either, though business accounts sometimes get better expense ratios. Down payments range from 10-20% depending on credit and loan amount.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Willits.
Willits supports a strong self-employed community — contractors, cannabis consultants, shop owners. Traditional W-2 income docs don't capture how many locals earn. Bank statement loans solve that gap.
Non-QM lenders have expanded options significantly as of February 2026. More programs now accept 12-month statements instead of requiring 24 months. That shortens the timeline for newer businesses to qualify.
You need consistent deposits over 12 or 24 months. Lenders calculate your qualifying income by averaging monthly deposits and applying an expense ratio, typically 25-50%. Credit minimums usually start at 620.
SRK CAPITAL accesses 200+ wholesale lenders offering bank statement programs. Each lender prices risk differently based on your deposit consistency, account type, and business structure. We shop all of them.
Some lenders specialize in specific industries — one might favor seasonal income patterns while another wants steady monthly deposits. That's why shopping multiple lenders matters more with non-QM than conventional loans.
The 12-month programs work best for established businesses with steady cash flow. If your income fluctuates seasonally or you're newer, expect lenders to require 24 months or apply higher expense ratios that reduce qualifying income.
Keep business and personal expenses separate in your statements. Mixed-use accounts trigger higher expense ratios. Also, large one-time deposits get excluded from income calculations, so don't expect that equipment sale to boost your qualifying number.
Profit & Loss Statement Loans skip the bank statements entirely if you have tax returns prepared by a CPA. 1099 Loans work when you receive contractor income but lack consistent bank deposits. Asset Depletion Loans qualify you based on liquid assets, not income.
DSCR Loans make sense for investment properties in Willits where rental income covers the mortgage. Bank statement loans remain the best fit when you're self-employed and buying your primary residence without clean tax returns.
Mendocino County's self-employed workforce includes cannabis industry workers who face additional lender scrutiny. Not all non-QM lenders accept cannabis-related income. We know which ones do and how to structure those applications.
Willits property values vary widely between in-town homes and rural parcels. Lenders apply different loan-to-value caps based on property type. Rural properties over five acres often face tighter restrictions or require larger down payments.
Yes, if you have strong credit and consistent deposits. Newer businesses or fluctuating income typically require 24 months for lender approval.
Yes. Most lenders accept personal accounts for self-employed income. Business accounts may get lower expense ratios, which increases your qualifying income.
Most programs start at 620, though rates improve significantly above 680. Scores below 640 require larger down payments and limit lender options.
They average monthly deposits over 12-24 months, then apply an expense ratio of 25-50%. The remaining amount becomes your qualifying income.
Some non-QM lenders accept cannabis income with proper documentation. We work with lenders experienced in Mendocino County's cannabis market and legal compliance.